Ramsey Health Care announces profit

Ramsay Health Care has announced a core net profit after tax (NPAT) of $579.3 million for the year ended June 30, 2018, a 6.8 per cent increase on the previous corresponding period.

Core NPAT delivered core earnings per share (EPS) of 279.8 cents for the year, an increase of seven per cent on the 261.4 cents recorded in the previous corresponding period – and in line with the revised guidance provided in June 2018.

Directors have announced a fully franked final dividend of 86.5 cents, up 6.1 per cent on the previous corresponding period, taking the full-year dividend to 144 cents fully franked – up 7.1 per cent on the prior year. The dividend record date is September 6, 2018, with payment on September 28, 2018. The dividend reinvestment plan will remain suspended.

The company’s statutory reported NPAT, and after net non-core items of $388.3 million, was down 20.6 per cent on the prior year. Net non-core items of $191 million (net of minorities and net of tax) were recognised in the period.

The non-core items were principally due to Ramsay UK recognising an onerous lease provision and asset write-downs related to certain UK sites of $122 million (net of tax) and Ramsay Générale de Santé (RGdS) recognising restructuring costs of $29.9 million (net of minorities and net of tax).

Financial highlights

  • Core NPAT up 6.8 per cent to $579.3 million.
  • Core EPS up seven per cent to 279.8 cents.
  • Group:
    • Revenue up 5.4 per cent to $9.2 billion.
    • EBITDA up 6.2 per cent to $1.4 billion.
  • Australia/Asia:
    • Australia revenue up 5.5 per cent to $4.9 billion.
    • Australia EBITDA up 12.1 per cent to $896 million.
    • Equity accounted share of Asian joint venture net profits of $16.8 million, up seven per cent.
  • France:
    • Revenue up 0.3 per cent to €2.2 billion.
    • EBITDAR down 0.6 per cent to €445.7 million.
  • UK:
    • Revenue down 5.2 per cent to £424.2 million.
    • EBITDAR down 9.8 per cent to £102.7 million.
  • Final dividend 86.5 cents fully franked, up 6.1 per cent on the previous corresponding period, bringing the full-year dividends to 144 cents fully franked, up one per cent.

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