Sonic Healthcare FY24 financial highlights

Sonic Healthcare (ASX:SHL), a global healthcare provider, reported its financial results for FY 2024 at its recent Annual General Meeting. The company achieved a total revenue of A$8,967 million, reflecting a 10% year-on-year increase. This growth was bolstered by a 16% rise in base business revenue, offsetting a significant drop in COVID-related income.

Comprehensive analysis of Sonic Healthcare's FY24 results

Sonic Healthcare's FY24 results showcased a robust performance with a 10% increase in total revenue, reaching A$8,967 million. This was driven by a 16% growth in base business revenue, despite an 87% decline in COVID-related revenue. Acquisitions and new contracts, particularly in Switzerland and Germany, contributed significantly to the revenue, adding approximately A$655 million. Despite challenges, the company experienced margin expansion in the latter half of the year. For FY 2025, Sonic Healthcare expects a 10% growth in total revenue and over 10% growth in EBITDA. The company also continues to focus on sustainability initiatives and strategic international expansions, such as the formation of Sonic Suisse, aiming to enhance operational efficiencies. Its commitment to sustainability and corporate social responsibility remains a core part of its strategy going forward.

Executive insights on FY24 performance

The company's executives highlighted a return to margin expansion in the latter half of FY 2024 and reaffirmed its guidance for FY 2025, projecting further growth in revenue and EBITDA.