• Revenue up 6.7% to $271.9m
• Underlying EBITDA up 5.6% to $66.3m
• Underlying NPAT down 8.1% to $27.4m

Monash IVF Group reported a net profit after tax of $25.7m, compared to a net loss of $5.9m in FY24 which was impacted by the NiPGT class action settlement. The FY25 underlying NPAT of $27.4m is in line with the updated profit guidance provided in May 2025, representing an 8.1% decrease on FY24. The Group delivered an increase in FY25 Group Revenue of 6.7% to $271.9m and an increase in underlying EBITDA of 5.6% to $66.3m, while maintaining underlying EBIT at $43.0m. The increase in Group Revenue and underlying EBITDA was driven by both the Australian and International segments. The Domestic IVF business decreased stimulated cycles by 5.0% following a 1.7% contraction in the Australian IVF industry and a 0.7% decrease in the Australian market share to 21.0%. The Domestic FET cycles market share grew by 0.8% in FY25. The Women's Ultrasound business delivered scan decreases of 0.4% in FY25. The International segment delivered a 6.4% decrease in stimulated cycles largely due to 2H25 adverse macro conditions across Malaysia and Singapore markets. Net finance costs increased to $7.3m, $2.0m higher than prior year primarily due to higher average borrowing levels and higher non-cash interest expense.

The Syndicated Debt Facility limit was increased from $90.0m to $100.0m in June 2025 to support the cashflow timing of NiPGT Class Action Settlement, future organic and inorganic growth, on-going operations as well as continued execution of its Strategic Plan. Sufficient headroom remains available in key banking covenants.