AUS
NZ
UK
CA
USA
IND
Highlights
- NIB Holdings is an ASX-listed health insurance services provider with operations across Australia and New Zealand
- In FY24, NHF’s revenue increased by 9.3% YoY to AUD 3.3 billion
- The Vanguard Group, Inc. has the maximum stake in the firm with a shareholding of ~4.98%
NIB Holdings Limited (ASX:NHF) is a health insurance services provider. Its offerings include health and medical insurance coverage tailored for both Australian and New Zealand residents, as well as health insurance options designed specifically for international students and workers within Australia.
In the financial year 2024 (FY24), NHF’s group revenue increased by 9.3% YoY to AUD 3.3 billion, net profit after tax jumped 67.4% YoY to AUD 181.6 million and underlying operating profit increased by 77.3% YoY to AUD 257.5 million. During the reported period, top line growth was driven by policyholder growth across all insurance segments.
During the reported period, in both Australia and New Zealand, claims increased by 6.7% YoY due to lower number of claims in the previous period and inflationary pressures.
Top 10 shareholders of NHF
The top 10 shareholders of NHF have around 22.46% shareholding in the firm. The highest stake is held by The Vanguard Group, Inc., with around 4.98% shareholding, followed by State Street Global Advisors Australia Ltd., which owns approximately 4.23%.
Outlook
In FY25, the company expects to see nearly 3% net policyholder growth in ARHI (Australian Residents Health Insurance) segment. Over the medium to long term, underlying claims inflation is expected to return to 46%, while the net margin is anticipated to remain steady at 6-7%.
The company said that student arrivals are anticipated to return to pre-COVID levels with continuous improvements in margins. The demand for temporary skilled workers is also expected to sustain. In the IIHI (International Inbound Health Insurance) segment, the net margin is expected to remain in the range of 10-15%.
In FY25, private health insurance of New Zealand residents is expected to record 3-4% growth and net margin is expected to return to the 8-9% target, driven by the easing of post-COVID-19 inflation pressures and strategic pricing.
The Thrive business segment is on track to reach nearly 50,000 participants by the end of FY25, with ongoing system integration and development.
Share performance of NHF
NHF shares closed 6.32% lower at AUD 5.63 apiece on 9 September 2024 with a market cap of AUD 2.91 billion. In the last one year, NHF’s share price has dropped by almost 25.62% and in the past three months, the share price has declined by around 25.33%.
52-week high NHF is AUD 8.28, recorded on 21 February 2024, while 52-week low is AUD 5.94, recorded on 6 September 2024.
NHF Daily Technical Chart, Source: EODHD/Others
Note 1: Past performance is neither an Indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, and currency, is 09 September 2024. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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