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Highlights

  • IDX reported half-year revenue of AUD 249.4 million (+7.8% YoY), with operating NPAT rising 31.9% YoY to AUD 9.8 million
  • A statutory loss of AUD 0.4 million was recorded in 1HFY25 due to merger-related costs.
  • The Capitol Health merger is progressing well, with expected annual synergies of at least AUD 10 million
  • Most of annualised synergies are anticipated to materialize within the first year.

Integral Diagnostics Limited (ASX:IDX) is an ASX-listed company that provides medical imaging services in Australia and New Zealand. The company’s strategic focus is on operational efficiency, innovation, and growth opportunities, including the integration of Capitol Health and advancements in artificial intelligence (AI) and teleradiology.

Technological Innovation and Efficiency Improvements

IDX remains committed to advancing its technological capabilities, integrating cutting-edge solutions such as teleradiology, AI, and digital innovations. These initiatives aim to improve patient care, enhance doctor efficiency, and optimise operational performance.

Merger with Capitol Health Drives Expansion

IDX’s recent merger with Capitol Health has significantly expanded its operational scale and market reach. The integration process is progressing well, with expected annual synergies of at least AUD 10 million, most of which are anticipated to materialise within the first year.

Half-Year Financial Performance

In the half-year ended 31 December 2024 (1HFY25), the company’s revenue climbed to AUD 249.4 million, representing a 7.8% YoY rise, driven by Medicare indexation, rising patient volumes, and a favourable service mix. Operating EBITDA in 1HFY25 rose to AUD 46.8 million, reflecting an 8.2% YoY growth, while operating NPAT surged by 31.9% YoY to reach AUD 9.8 million. Despite this, IDX recorded a statutory loss of AUD 0.4 million, primarily due to AUD 9.2 million in transaction costs related to the Capitol Health merger and an AUD 1.3 million loss stemming from Capitol’s seasonal revenue decline under IDX control.

Outlook

As per IDX, the company is well-positioned to benefit from upcoming regulatory changes, such as the deregulation of MRIs and the introduction of the National Lung Cancer Screening Program (NLCSP) in Australia, both set to take effect in July 2025.

Dividend Update

On 26 February 2025, IDX announced a dividend of AUD 0.025 per share for the six-month period ended 31 December 2024. The record date is 7 March 2025, with payment scheduled for 7 April 2025.

Share performance of IDX

IDX shares closed 12.24% lower at AUD 2.51 per share on 26 February 2025. In a year, IDX’s share price has increased by nearly 5.91% and in the last three months, the share price has dropped by approximately 11.31%.

52-week high of IDX is AUD 3.20, recorded on 23 October 2024 and 52-week low is AUD 2.09, recorded on 20 March 2024.

Support and Resistance Summary

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 26 February 2025. The reference data in this report has been partly sourced from EODHD/Others.

 

Technical Indicators Defined:

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.