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As the 2024 fiscal year reporting season progresses, several key players across different sectors have revealed their financial performance, showcasing a mix of resilience and challenges. Diagnostic imaging provider Capitol Health, energy company Genesis Energy, casino operator SkyCity Entertainment, and health insurance giant Medibank Private have all released their results, reflecting the diverse economic conditions and strategic decisions that shaped their outcomes over the past year. Here's a closer look at how each company fared during this critical period.
Capitol Health (ASX:CAJ) reported solid financial performance during the 2024 fiscal year, continuing its momentum through Australia’s reporting season. The diagnostic imaging provider announced a 25% increase in underlying net profit after tax (NPAT), reaching $11 million. Revenue for the same period also grew by 12%, amounting to $238 million. Capitol’s year included significant developments, such as a proposed merger with Integral Diagnostics Limited (ASX:IDX) and the opening of a new MRI comprehensive clinic at Sunshine Private Hospital in Victoria. The company confirmed that its final dividend for FY2024 would align with the merger ratio, reflecting 0.12849 of the FY2024 final dividend of IDX.
Genesis Energy Ltd (ASX:GNE), however, faced a challenging year, with a substantial decline in profitability for the 12-month period ending June 2024. The company’s net profit dropped by 33% to $131.1 million, down from $195.8 million in the previous year. Similarly, Genesis reported a 22% decrease in EBITDAF, which stood at $407.2 million for FY2024 compared to $523.5 million in FY2023. The company attributed these declines to gas supply constraints, low hydro and wind levels, and a prolonged outage at Huntly Unit 5. Despite these challenges, Genesis remains committed to its strategic goals. The total dividend per share for FY2024 was reduced to 14 cps, a 21% decrease from the 17.6 cps distributed in FY2023.
SkyCity Entertainment Group Ltd (ASX:SKC) also reported weaker financial results, with underlying group NPAT falling by 7.2% to NZ$123.2 million. EBITDA declined by 8% to NZ$277.8 million. CEO Jason Walbridge attributed the lower earnings to cost-of-living pressures, a softer economy, and the company’s response to regulatory issues. SkyCity announced a planned five-day closure of gambling operations at its Auckland site next month, a move that is expected to result in a NZ$5 million reduction in FY2025 earnings. This closure is part of an agreement with the Secretary of Internal Affairs to avoid a temporary suspension of the company’s casino operator’s license. Underlying earnings per share for FY2024 were 16.2 cps, a 7.3% year-on-year decline.
In contrast, Medibank Private Ltd (ASX:MPL) delivered strong results for the 2024 fiscal year, with underlying NPAT rising by 14.1% to $570.4 million. CEO David Koczkar emphasized the company’s focus on keeping premiums low and providing substantial support for customers. This commitment was demonstrated by a $305 million COVID give-back, contributing to a record $1.46 billion in total customer support during the period.
