nib (NHF) investor relations material

Executive summary

• Underlying operating profit rose 22% to AUD 129.1 million, driven by 7.7% revenue growth and strong performance across all segments, with significant progress in operational and digital transformation.

• Net profit after tax was AUD 82.9 million, supported by disciplined expense management and productivity gains.

• Sale of World Nomads International travel insurance business for AUD 67.5 million, with ongoing review of remaining travel operations.

• All business segments contributed positively, with notable recovery in New Zealand and continued growth in Australian and international health insurance.

• Interim dividend of AUD 0.13 per share, fully franked, maintained from prior year.

Financial highlights

• Group revenue reached AUD 1.9 billion, up 7.7% year-over-year; total persons covered increased 1.9% to 1,947,045.

• Group operating expense ratio improved by 100 basis points to 16.5%; ROIC increased to 14.7%.

• Net investment income declined due to lower returns from equities compared to 1H25.

• PHI lives covered reached 1.95 million, the largest customer base to date.

• EPS was 17.0 cents per share, down slightly from 17.1 cents.

Outlook and guidance

• FY26 Group underlying operating profit expected in the range of AUD 257 million–AUD 267 million.

• Further reductions in group operating expense ratio anticipated, supported by ongoing productivity programs.

• Australian residents targeting above-system policyholder growth and stable net margin in the 6%-7% range.

• International and New Zealand segments expected to continue strong contributions; Health Services profitability to continue.

• Strategic review of travel business ongoing, with sale of World Nomads agreed post-period.