Report
Chris Kallos
EUR 100.00 For Business Accounts Only

More Pain Before Gain, as Monash Operating Leverage Reduces and Margins Contract; Lowering FVE

No-moat Monash IVF's full-year fiscal 2018 results were mixed and highlighted the negative impact of lower volumes on EBITDA margins given lower operating leverage.  After adjusting for one-off costs of AUD 1.2 million, largely related to legal fees and recruitment of key personnel, reported net profit after tax, or NPAT, of AUD 21.4 million, down 27.9% year on year, was slightly below our forecast of AUD 23.2 million. Although average revenue per blended fresh IVF cycle was albeit 5% higher tha...
Underlying
Monash IVF Group

Healthbridge Enterprises is engaged in the provision of medical services in the area of human reproduction and human pathology.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Chris Kallos

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