Adjusted EBITDA overview
Adjusted EBITDA bridge FY23A – LTMFeb25A
40,000
20,000
0
(20,000)
(5,923)
FY23A
Adj. EBITDA
31,192
Acquisition of
BHC clinics
31,192
Acquisition
TGA clinics
1,877
Others
(19,984)
FY24A
Adj. EBITDA
(14,433)
Adjusted
EBITDA
(5,984)
Acquisition of
BHC clinics
2,459
Revenue
growth
(879)
Others
(11,778)
COGS
movement
2,901
Opex
movement
(2,921)
LTMFeb25A
Adj. EBITDA
Adjusted EBITDA bridge FY23A to LTMFeb25A

• Adjusted EBITDA growth is primarily driven by the accel opening of new clinics, the growth of existing clinics which is boosted by ongoing marketing and advertising activities, and the growth of OnlineNow that could serve as aligned with the market. Demand. CNNZHP online is lost on the formula reclassification post FY24.

• The increases of COGS and Opex reflect the increased number of operating clinics as well as growth of ESUs, with average monthly spending relatively during the Historical Period, as the current items mentioned in after costs.

• Opex growth in FY24A also record a $4.7m increase in head office costs as central functions scaled up, primarily related to staff costs.