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Healthcare – SHL

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Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

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Question asked 24/08/2024

Healthcare – SHL

Hi MM Team You reviewed 4 healthcare stocks this morning before SHL released its result How do you see SHL moving forward now since it reports that it is realigning to suit the scaling down of COVID. Is the stock now in your buying radar? Thanks Boom

Answer

Hi Boon,

The diagnostic business reported FY24 results this week, as expected they weren’t great but the normalisation of COVID was the primary driver.

Revenue increased by 9.8% to $8.97 billion despite normalising COVID-19-related revenue, down 87% to $62.4 million
Base business revenue, excluding the abnormal COVID-19 impact, was up 15.9% to $8.9 billion, led by organic growth and key acquisitions
EBITDA fell 6% to $1.6 billion, excluding the gain related to the sale of West Division USA
NPAT fell 25% to $511 million
SHL declared a final dividend of 63 cents per share, bringing the total FY24 dividend to $1.06 per share.

Overall, a solid result and one that keeps us cautiously bullish but not enough yet to elevate SHL onto our Hitlist. Further progress on their cost base will be important for SHL.

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Sonic Healthcare Ltd (SHL)

LAST UPDATED 23/08/2024 12:40

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