• Solid revenue growth of 7.8% on a standalone basis
• Operating EBITDA growth of 8.2% and strong Operating NPAT growth of 31.9%
• Financial leverage (net debt to pre-AASB 16 EBITDA) at 2.8x, or 2.6x on a pro forma basis including projected synergies

Integral Diagnostics Limited (ASX: IDX) announced its results for the half year ended 31 December 2024 (1H FY25). On a standalone basis, the Group achieved solid revenue growth of 7.8%, Operating EBITDA growth of 8.2% and strong Operating NPAT growth of 31.9%. Including Capitol Health Limited (Capitol), which was under IDX control from 20 to 31 December 2024 following the merger completion on 20 December 2024, financial leverage (net debt to pre-AASB 16 EBITDA) was 2.8x at 31 December 2024, or 2.6x on a pro forma basis including projected synergies of $10m. The company reported a statutory loss after tax of $0.4m, including transaction and integration costs, remeasurement of contingent consideration liabilities, restructuring costs, amortisation of customer contracts and share-based payments to doctors, as well as a $1.3m statutory loss after tax from Capitol due to seasonally lower revenue and fixed costs for the period when Capitol was under IDX control. The company declared a fully franked interim dividend of 2.5 cents per share, payable on 7 April 2025. The company is focused on executing its strategy, including the integration of IDX and Capitol, driving organic earnings growth, accelerating the use of teleradiology, digital and AI, and leading through its values. The company is also well-positioned to benefit from the further deregulation of MRIs and the introduction of a National Lung Cancer Screening Program in Australia, both effective from 1 July 2025.

FY25 replacement and growth capex is expected to be between $60.0m to $65.0m, including $20.0m relating to Capitol.

The company believes the underlying fundamentals of the essential radiology industry remain strong, with the industry benefiting from an ageing demographic and technological advances, together with structural shifts to higher value modalities. The company is focused on executing on the merger integration, driving organic earnings growth, accelerating the use of teleradiology, digital and AI, and leading through its values. The company is also well-positioned to benefit from the further deregulation of MRIs and the introduction of a National Lung Cancer Screening Program in Australia, both effective from 1 July 2025.