NIB’s Impressive FY17 Profit in Line. Long-Term Outlook Remains Positive. FVE Lifted 6% to AUD 5.20
Narrow-moat private health insurer, NIB Holdings impressed again with a strong fiscal 2017 NPAT, up 31% to AUD 120 million, broadly in line with our AUD 117 million forecast. Despite the impressive performance outlook, guidance was softer than expected with fiscal 2018 likely to be a consolidation year after two consecutive strong years of growth. EPS growth of 24.4% and 27.5% in fiscal 2016 and 2017, respectively, will likely slow to minus 3% in fiscal 2018 if our forecasts are achieved. Despit...NIB Holdings operates in five segments: Australian Residents Health Insurance, which consists of Co.'s main product offering within the Australian private health insurance industry; New Zealand Residents Health Insurance, which consists of Co.'s main product offering within the New Zealand private health insurance Industry; International (Inbound) Health Insurance, which consists of Co.'s offering of health insurance products for international students and workers; World Nomads Group, which consists of Co.'s distribution of travel insurance products; and NIB Options, which consists of Co.'s facilitation of access to cosmetic and dental treatment both overseas and in Australia.
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