2009

17 February 2009

IBA Half-Year Results to 31 December 2008

IBA Health Group Limited (ASX: IBA) – Australia's largest listed health information technology company – today announced its half-year results for the six months ended December 31 2008. IBA Health has recorded revenues of $275 million, up 168% (H1 08 $103 million), and an EBITDA of $67.5 million, up 161% (H1 08 $26 million). The previous corresponding period, H1 08, consisted of 6 months of IBA and 2 months of iSOFT. Accordingly, 12 months of post-acquisition performance has been provided, showing the company is on track to meet its FY09 guidance.

Highlights

Reported EBITDA growth of 161% to $67.5 million in H1 08
Better than expected reported EBITDA margin of 24.5%
Reported EBITDA at constant currency for H1 is $68.3 million
Net profit after tax of $10.3 million
Strong revenue growth
Underlying revenue growth across all geographies
94% of FY09 revenues are recurring, contracted and expected
Global launch of LORENZO progressing according to plan
Expect to reinstate dividend in FY09

Executive Chairman and CEO of IBA Health, Gary Cohen said: “We have achieved profitable revenue growth in the first half, driven by solid recurring revenues across all our geographies. We are continuing to benefit from global investment in health IT by governments worldwide, and the computerisation of healthcare records.”

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