S&P/ASX 200 Index (ASX: XJO) healthcare stock Healius Ltd (ASX: HLS) is off to the races today.
Shares in the pathology and imaging provider closed yesterday trading for $1.47. At the time of writing, shares are swapping hands for $1.60 apiece, up 8.8%.
For some context, the ASX 200 is down 0.5% at this same time.
The Healius share price is outperforming following the release of the company's full-year results for the financial year ended 30 June (FY 2024).
Read on for the highlights.
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ASX 200 healthcare stock soars on results
- Business as usual (BAU) revenue of $1.74 billion, up 6.1% from FY 2023
- Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of $346.6 million, down 7.9% year on year
- Underlying earnings before interest and tax (EBIT) of $65.4 million, down 34% from FY 2023
- Reported net loss of $645.8 million, compared to a net loss of $367.8 the prior year
What else happened with Healius during FY 2024?
The ASX 200 healthcare share is grabbing investor attention today, with both underlying EBITDA and EBIT coming in at the top end of the company's guidance range.
The biggest headwind facing Healius over the financial year was the big, but expected slide in the company's Covid revenues, which dropped from $63.5 million in FY 2023 to just $2.5 million in FY 2024. That equates to a year on year EBIT reduction of $30.4 million.
Pathology segment BAU revenues improved in the second half, driving year on year growth of 4.7% to $1.27 billion.
Gross revenue from Healius Lumus Imaging grew 5.7% to $519.0 million, while EBIT increased 10.8% to $41.9 million.
And the company reported that Agilex Biolabs revenue grew by 20.8% to $39.5 million while EBITDA doubled to $8.9 million.
Healius last paid a dividend in September 2022. The board opted not to pay a final dividend for FY 2024.
The ASX 200 healthcare stock had net debt of $360.7 million at 30 June.
What's next for the ASX 200 healthcare stock?
Looking at what could impact the Healius share price in the year ahead, the company noted that year on year volume growth of 4% in pathology continued during July and August.
Healius said both Imaging and Agilex have had a strong start to FY 2025, with management expecting growth to continue throughout the year.
The ASX 200 healthcare stock noted:
Healius management will continue to focus on growth initiatives and efficiency opportunities, through new ways of working, increased automation, digitisation and the use of AI and other technology enablers.
Healius expects its gearing to remain within bank covenants during FY 2025 and is intent on resuming dividends as soon as practicable.
Healius share price snapshot
With today's Healius share price gains factored in, the ASX 200 healthcare stock remains down 39% over 12 months.
