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MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  Ramsay Health Care Limited    RHC   AU000000RHC8

RAMSAY HEALTH CARE LIMITED

(RHC)
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Ramsay Health Care : ASX Announcement - Financial Report for the year ended 30 June 2020

09/14/2020 | 09:05pm EST

Financial Report 2020

Ramsay Health Care Limited & Controlled Entities

ARTANIA CRUISE SHIP PASSENGER, JURGEN SCHREYEK, GIVEN GUARD OF HONOUR AT JOONDALUP HEALTH CAMPUS AFTER 'MIRACLE' COVID-19

SURVIVAL*

Financial Report

FOR THE YEAR ENDED

30 JUNE 2020

Ramsay Health Care Limited & Controlled Entities

A.B.N. 57 001 288 768

Contents

2 Directors' Report

  1. Independent Audit Report
  1. Directors' Declaration
  2. Consolidated Income Statement
  3. Consolidated Statement of Comprehensive Income
  4. Consolidated Statement of Financial Position
  5. Consolidated Statement of Changes in Equity
  6. Consolidated Statement of Cash Flows
  7. Notes to the Consolidated Financial Statements

III. Assets

& Liabilities

I. Results For

II. Capital -

Operating &

IV. Risk

V. Other

Overview

The Year

Financing

Investing

Management

Information

Page 55

Page 63

Page 69

Page 80

Page 98

Page 103

Overview

1.

Segment

6.

Equity

8.

Working

16. Financial Risk

17.

Share Based

Information

7.

Net Debt

Capital

Management

Payment Plans

2.

Revenue &

9.

Business

18.

Expenditure

Other Income

Combinations

Commitments

3.

Expenses

10.

Property, Plant

19.

Subsequent

4.

Dividends

& Equipment

Events

11.

Right of Use

20.

Related Party

5.

Earnings per

Assets

Transactions

Share

12.

Intangible

21.

Auditors'

Assets

Remuneration

13.

Impairment

22.

Information

Testing

Relating to

of Goodwill

Subsidiaries

14.

Taxes

23.

Closed Group

15.

Other Assets/

24.

Parent Entity

(Liabilities)

Information

25.

Material

Partly-Owned

Subsidiaries

111 Attachment 1 - Ramsay Health Care Limited Directors & Company Secretary

FINANCIAL REPORT 2020

1

RAMSAY HEALTH CARE LIMITED

DIRECTORS' REPORT

Your Directors submit their report for the year ended 30 June 2020.

DIRECTORS

The names of the Directors of Ramsay Health Care Limited ("Ramsay" or "the Company") in office during the financial year and until the date of this report, unless noted otherwise, are listed below. Each Director's beneficial interest in the share capital of the Company as at the date of this report is as follows:

Director

Ramsay Health Care Limited

Convertible

Adjustable

Rate Equity Securities

Rights over

Ordinary Shares

(CARES)

Ordinary Shares

C.A. Deans

5,705

1,402

-

P.J. Evans

11,099

-

-

J. McMurdo (appointed 11 September 2019)

4,964

-

-

C.R. McNally

351,707

-

140,808

K.L.C. Penrose (appointed 1 March 2020)

957

-

-

M.S. Siddle

3,905,244

-

-

C. Süssmuth Dyckerhoff

3,705

-

-

D.I. Thodey AO

11,071

700

-

R.H. McGeoch AO (resigned 14 November 2019)*

55,511

257

-

K.C. D. Roxburgh (resigned 14 November 2019)*

50,180

-

-

B.R. Soden (resigned 12 September 2019)*

324,070

2,000

180,577

  • Retiring Directors' beneficial interest in the share capital of the company is provided at the date of the Director's retirement.

Particulars of each Director's and Company Secretaries' experience and qualifications are set out in Attachment 1 to the Financial Report.

Interests in Contracts or Proposed Contracts with the Company

No Director has any interest in any contract or proposed contract with the Company other than as disclosed elsewhere in this report.

2 RAMSAY HEALTH CARE LIMITED

RAMSAY HEALTH CARE LIMITED

DIRECTORS' REPORT (Continued)

OPERATING & FINANCIAL REVIEW

Principal Activities

Ramsay is a global hospital group operating in approximately 500 locations across Australia, the United Kingdom, France, Sweden, Norway, Denmark, Germany, Indonesia, Malaysia, Hong Kong and Italy. The Group is committed to being a leading provider of health care services by delivering high quality outcomes for patients and ensuring long term profitability. Ramsay is well-respected in the health care industry for operating quality private hospitals and for its excellent record in hospital management, staff engagement and patient care.

Ramsay facilities cater for a broad range of health care needs from day surgery procedures to highly complex surgery, as well as psychiatric care and rehabilitation. The Group now operates across 11 countries, treating over 8.5 million patients in approximately

500 locations and employing almost 80,000 staff. Importantly, Ramsay continues to differentiate its business in terms of leadership, focusing on quality and clinical excellence and reinvesting in its business. We maintain market leading positions in Australia, France and Scandinavia, and we are a market leader in the private provision of services to the National Health Service (NHS) in England.

Ramsay listed on the Australian Securities Exchange in 1997 and, over the last twenty three years has developed and acquired a high quality portfolio of strategically located assets both in Australia and overseas, which have helped to position it at the forefront of the global health care market.

Ramsay is committed to ongoing improvement in patient care in all areas and has an excellent record in providing quality patient care and managing clinical risk. All Ramsay facilities offer high quality health care services and are fully accredited with the relevant accreditation bodies in their regions. Accreditation is an important driver for safety and quality improvement and ensures that Ramsay hospitals are at the forefront of health care delivery.

Ramsay maintains a decentralised management structure which allows each of its facility managers to develop productive working relationships with doctors. This has assisted in attracting high calibre medical practitioners to consult in its facilities. Ramsay takes a leadership role in shaping the world that we live in through its focus on the environment, good corporate governance and societal issues at large. Since 2011 Ramsay has been included in the FTSE4Good Index, an index which objectively measures the performance of companies that meet globally recognised corporate responsibility standards.

The Group also commits significant funds and resources to clinical teaching and medical research believing that the private sector has an important role to play in the training and development of the future medical and nursing workforce. To this end, through its hospitals, the Group works closely with government and universities in the training of nursing and medical staff.

In November 2007, Ramsay Health Care acquired Capio UK and its portfolio of hospitals in England. Ramsay Health Care UK is now one of the leading providers of independent hospital services in the UK, with a network of over 30 acute hospitals and day procedure centres providing a comprehensive range of clinical specialties to private and self-insured patients as well as to patients referred by the NHS.

In March 2010, Ramsay Health Care purchased a 57% interest in Group Proclif SAS (Proclif), a private hospital operator based in France. Proclif changed its name to Ramsay Santé. This was the start of several acquisitions in France, culminating in its acquisition of a controlling interest in Générale de Santé (GdS) in October 2014. GdS was the leading operator of private hospitals in France comprising 75 facilities (including 61 hospitals) in the fields of medicine, surgery, obstetrics and rehabilitation. On 1 July 2015, Ramsay Santé and GdS merged and the merged entity is now known as Ramsay Santé (formerly Ramsay Générale de Santé). Ramsay owns 52.5% of this merged entity.

It is listed on Euronext. This merged entity acquired HPM, a group of nine hospitals in Lille in December 2015. In November 2018, the merged entity acquired the share capital of Capio AB. Capio is a leading, pan-European healthcare provider offering a broad range of healthcare services in Sweden, Norway, Denmark, France and Germany.

In July 2013, Ramsay Health Care entered into a Joint Venture arrangement with Malaysian multinational conglomerate Sime Darby Berhad. Ramsay owns 50% of this Joint Venture. The joint venture combined Sime Darby's portfolio of health care assets in Malaysia (three hospitals and a nursing and health sciences college) with Ramsay's three Indonesian hospitals, under a jointly owned company, Ramsay Sime Darby Health Care Sdn Bhd (RSD).

Non - AASB Financial Information

The review of results of operations included in the Directors' Report below includes a number of non-AASB financial measures. These non-AASB financial measures are used internally by management to assess the performance of the business and make decisions on the allocation of resources. It is the Company's intention to no longer separate its profit between core and non-core, going forward.

FINANCIAL REPORT 2020

3

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Ramsay Health Care Limited published this content on 09 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 September 2020 01:04:01 UTC


© Publicnow 2020
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Net Debt 2021 7 403 M 5 701 M 5 701 M
P/E ratio 2021 28,5x
Yield 2021 1,58%
Capitalization 13 521 M 10 436 M 10 414 M
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Nbr of Employees 80 000
Free-Float 76,8%
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Mean consensus HOLD
Number of Analysts 13
Average target price 66,86 AUD
Last Close Price 59,38 AUD
Spread / Highest target 27,7%
Spread / Average Target 12,6%
Spread / Lowest Target -15,8%
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NameTitle
Craig Ralph McNally Chief Executive Officer, MD & Executive Director
Michael Stanley Siddle Chairman
Martyn Roberts Group Chief Financial Officer
John Stephen Horvath Group Chief Medical Officer
Peter John Evans Deputy Chairman
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