Ramsay Health Care Limited (RMYHY) Q2 2026 Earnings Call Transcript

SA Transcripts158.63K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Ramsay Health Care Limited (RMYHY) Q2 2026 Earnings Call February 25, 2026 6:00 PM EST Company Participants Natalie Davis - MD, Group CEO & DirectorAnthony Neilson - Group Chief Financial Officer Conference Call Participants Lyanne Harrison - BofA Securities, Research DivisionAndrew Goodsall - MST Financial Services Pty Limited, Research DivisionDavid Low - UBS Investment Bank, Research DivisionCraig Wong-Pan - RBC Capital Markets, Research DivisionDavid Stanton - Jefferies LLC, Research DivisionDavinthra Thillainathan - Goldman Sachs Group, Inc., Research DivisionLaura Sutcliffe - Citigroup Inc., Research DivisionSteven Wheen - Jarden Limited, Research DivisionSaul Hadassin - Barrenjoey Markets Pty Limited, Research DivisionSacha KrienAndrew Paine - CLSA Limited, Research DivisionDavid Bailey - Morgan Stanley, Research Division Presentation Natalie DavisMD, Group CEO & Director Good morning, and welcome to Ramsay Healthcare's financial results for the 6 months to 31st of December 2025. My name is Natalie Davis, and I'm joined today by Anthony Neilson, our Group CFO, who commenced with Ramsay in late November. After 12 months in the role, I'm pleased to report that we're making good progress on our key priorities. The refresh of our group executive is now complete, strengthening capability and supporting the acceleration of our multiyear transformation program. We remain focused on delivery against the 3 priorities I first outlined this time last year that are shown on Slide 3. First, disciplined execution of the transformation of our market-leading Australian hospital business. In the half, we've improved patients, people and doctor NPS, grown admissions with a focus on higher acuity and have lifted our theater utilization. Our second priority is strengthening capital allocation and improving returns across the portfolio. You will have seen last week's announcement regarding the proposed distribution of Ramsay's investment in Ramsay Sante to Ramsay shareholders. Subject to obtaining the relevant approvals, we believe this will simplify the group