GREEN CROSS HEALTH REPORTS HALF-YEAR PROFIT OF $5.6M

Green Cross Health (NZX: GXH)
Half-Year Result Announcement for the unaudited six months ended 30 September 2024
GREEN CROSS HEALTH REPORTS HALF-YEAR PROFIT OF $5.6M
28 November 2024, AUCKLAND, NZ: Listed primary healthcare provider Green Cross Health, the
Group behind Unichem, Life Pharmacy and The Doctors, reported Operating Revenue of $259.9m for
the six months to 30 September 2024 and Net Profit After Tax Attributable to Shareholders of $5.6m.
Result Summary:
• Operating Revenue of $259.9m, up 4%
• Operating Profit (EBIT) of $16.1m, up 8%
• Net Profit After Tax Attributable to Shareholders of $5.6m, up 1%
• Pharmacy Operating Revenue flat with Operating Profit up 3% to $8.9m
• Medical Operating Revenue up 13% with Operating Profit up 12% to $8.2m
• Investment in growth of $3.7m
• 2.5cps interim dividend declared, to be paid on 18 December 2024.

Group Commentary
Green Cross Health Group CEO Rachael Newfield, commented, “The company expanded its national
primary care footprint, adding one pharmacy and one medical centre to its portfolio. During the
period our team members have shown resilience navigating through workforce challenges in the
sector and embracing change to prioritise customer needs and patient care.
“The company urges Government action to address key issues in primary healthcare. Annual funding
increases have not kept pace with cost pressures and, at a time when the country’s health system is
under significant pressure, there are further opportunities to extend services pharmacies and
medical centres can provide within communities across New Zealand.”

Pharmacy Division
Revenue in Pharmacy was flat at $182.2m, while Operating Profit for the period increased 3% to $8.9m.
Same store prescriptions grew 7% on prior period, buoyed by nationwide free prescriptions which
concluded on 30 June 2024. The retail environment remains challenging and economic uncertainty
continues to affect consumer spending. A number of strategic and tactical initiatives were deployed
in the period including additional promotional activity to drive store footfall, data-driven space
allocation to maximise returns on floor space and new product ranges, particularly in the beauty
category to broaden the customer demographic.

The Life Pharmacy ecommerce platform was upgraded in August 2024 to enhance the customer
omnichannel experience by enabling click & collect and displaying in-store stock availability. A
strategic partnership with Uber Eats was formed to allow on-demand delivery of pharmacy products
with 91 pharmacies across the network onboarded and 9,000 orders fulfilled since launch. Living
Rewards membership grew 4% compared to 30 September 2023 with the programme fundamental to
increasing customer loyalty and engagement through personalised product and service offers.

One equity investment was completed in the period with ongoing store optimisation resulting in one
relocation, one merger and one store closure while the licensee network ended the period at a net
increase of two stores. Additional investment in dispensing robotics was completed at six pharmacies,
reducing labour costs and providing additional dispensing capacity. To drive growth, pharmacy clinical
services are being expanded with customers making 52,000 online bookings during the period.

Medical Division
Medical Revenue grew 13% to $77.7m, with Operating Profit up 12% to $8.2m driven by organic and
acquisitive growth. Enrolled patients at 30 September 2024 totalled 423,000, an increase of 24,000
since 30 September 2023, representing the largest patient base of any general practice group in New
Zealand.

The migration of 26 medical centres to the National Hauora Coalition Primary Health Organisation
was completed as planned, supporting efficiencies and maximising time spent on patient care.
Investment in one centre and the merger of two centres saw the national footprint at 65 centres. A
review of urgent care performance was completed, resulting in one medical centre ceasing to provide
urgent care and being repositioned to focus solely on general practice services.

Like many sectors, Medical is experiencing workforce challenges. To meet patient needs, the division
is evolving the operating model through recruitment of new roles including enhanced care
paramedics, health improvement practitioners and health coaches, along with the use of nurse-led
clinics and virtual GPs. Investment in growing digital services continued with over 110,000 active
users on The Doctors App, enabling improved patient engagement and service efficiency.

Outlook and Dividend
Financial commentators expect a gradual recovery next year following largely stagnant economic
performance over the second half of calendar 2024. The company will focus on expanding pharmacy
services through the launch of instore Care & Advice Health Hubs across the Life and Unichem
network along with enhanced retail execution and new product ranges to meet customer demand.
Cost control and investment in technology are a priority to support labour efficiencies and improved
patient care. Acquisitive growth remains a strategic focus and is expected to lift as the economy
improves.
The Board has declared an interim dividend of 2.5 cents per share.

Contact:
Kalpana Goundar
kalpana.goundar@gxh.co.nz

Rachael Newfield
rachael.newfield@gxh.co.nz
About Green Cross Health
Green Cross Health (NZX: GXH) is a trusted New Zealand primary healthcare provider with
multidisciplinary healthcare teams with the purpose of working together to support healthier
communities. Green Cross Health is focused on creating sustainable healthcare solutions with
positive outcomes and experiences.
New Zealand owned and operated, Green Cross Health operates under branded groups Unichem, Life
Pharmacy and The Doctors medical centres, to provide support, care and advice to diverse New
Zealand communities.
Green Cross Health provides convenient access to professional healthcare with 331 Unichem and Life
Pharmacies covering almost every New Zealand community, as well as 65 medical centres caring for
423,000 enrolled patients.

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H a l f Ye a r R e s u l t s
P r e s e n t a t i o n
2 8 N o v e m b e r 2 0 2 4

Disclaimer
The information in this presentation was prepared by Green Cross Health Limited (GXH) with due care and attention. However, the information is supplied in
summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or reliability of the information. In
addition, neither GXH nor any of its subsidiaries, directors, employees, shareholders nor any other person shall have liability whatsoever to any person for
any loss (including, without limitation, arising from any fault or negligence) arising from this presentation or any information supplied in connection with it.
This presentation may contain forward-looking statements and projections. These reflect GXH current expectations, based on what it thinks are reasonable
assumptions. GXH gives no warranty or representation as to its future financial performance or any future matter. Except as required by law or NZX listing
rules, GXH is not obliged to update this presentation after its release, even if things change materially. This presentation does not constitute financial advice.
Further, this presentation is not and should not be construed as an offer to sell or a solicitation of an offer to buy GXH securities and may not be relied upon in
connection with any purchase of GXH securities.
This presentation contains a number of non-GAAP financial measures, including Operating Revenue and Operating Profit. As they are not defined by GAAP
or IFRS, GXH calculation of these measures may differ from similarly titled measures presented by other companies and they should not be considered in
isolation from, or construed as an alternative to, other financial measures determined in accordance with GAAP. Although GXH believes they provide useful
information in measuring the financial performance and condition of GXH business, readers are cautioned not to place undue reliance on these non-GAAP
financial measures.
The information contained in this presentation should be considered in conjunction with the consolidated financial statements for the six months ended 30
September 2024.
GXH Half Year Results Presentation28 November 20242

Group
Revenue
Operating Profit
(EBIT)
Net Profit After Tax
(attributable to shareholders)
Medical
Operating Profit
Pharmacy
Operating Profit
$$$$
$259.9m
$16.1m
8% increase vs 1H24
$5.6m
$8.9m
3% increase vs 1H24
$8.2m
12% increase vs 1H24
GXH Interim Result – Financial Overview
4% increase vs 1H24
1% increase vs 1H24
GXH Half Year Results Presentation28 November 20243

Operational Highlights
•Operating Cashflow of $25.3m, up
38% due to improvements in working
capital management
•Interim dividend of 2.5c per share
declared
Group
Highlights
Pharmacy
Division
•Total prescriptions up 7% on same-
store basis
•Upgrade of Life Pharmacy ecommerce
platform
•Partnership with Uber Eats allowing
on-demand delivery of pharmacy
products
•Investment in one new pharmacy
Medical
Division
•423,000 enrolled patients (+24,000
year-on-year)
•Migration of 26 centres to National
Hauora Coalition Primary Health
Organisation
•110,000 active users on The Doctors
App
•Investment in one new medical centre
GXH Half Year Results Presentation28 November 20244

New Zealand’s largest network of health
retailers: supporting easy access to quality
health care
Pharmacy
Division

Pharmacy Performance
169.9
179.7
181.5
182.2
1H 221H 231H 241H 25
Pharmacy Operating Revenue ($m)
1H22
1H231H241H25
13.3
11.6
8.7
8.9
1H221H231H241H25
Pharmacy Operating Profit ($m)
1H221H231H24
1H25
•Revenue constant at $182.2m
•Operating Profit up 3% to $8.9m due to cost
and margin management initiatives
•Same store labour costs flat despite higher
dispensing activity on the back of disciplined
roster management and investment in robotics
technology to achieve efficiencies
•Retail trade remains challenging with focus
on enhanced retail execution and new product
ranges to drive store footfall
GXH Half Year Results Presentation28 November 20246

0%
5%
10%
15%
20%
25%
0
2
4
6
8
10
12
14
16
Focus on Cost Control Initiatives
EBITEmployee costs %Other costs %
1H24
Operational Highlights - Pharmacy
•Vaccination volume up 2% as a result of targeted
marketing campaigns
•Script items continues strong growth trajectory
surpassing 19 million scripts in 1H25 for the first
time
•Focus on cost control resulted in flat employee
costs and other costs at 12.2% of revenue in 1H25
vs 14.5% of revenue in 1H24
GXH Half Year Results Presentation28 November 20247
57
110
109
112
91
175
183
185
12
13
14
15
16
17
18
19
20
0
50
100
150
200
250
300
350
FY22 - H1FY23 - H1FY24 - H1FY25 - H1
Total Scripts (m)
Total Vaccinations (000's)
Vaccination and Script Volumes
GXH Equity pharmaciesGXH Licensee pharmaciesTotal Scripts (all stores)
1H251H22
1H24
1H23
EBIT ($m)
% of Revenue
1H25
1H22
1H23

Different Ways of Reaching the Customer
Adapting to customer shopping habits with an upgrade of the Life Pharmacy ecommerce platform to
enable click & collect and display in-store stock availability along with Uber Eats partnership to provide on-
demand delivery of pharmacy products
Personalised offers through Living Rewards programme to improve customer engagement by
communicating relevant content and offers
Increased access to clinical services with extension of services available for online booking
9,000 Uber
Eats orders
since launch
6.3 million
page views
on Life
website
44 million
emails sent
to Living
Rewards
members
52,000
service
bookings
made online
86 million
views
across
social media
channels
GXH Half Year Results Presentation28 November 20248

Pharmacy Strategy and Future Focus
Brand &
customer
Retail
disciplines
Omni-channel
experience
Network scale &
leadership
Cost focus
Differentiated brands
and products &
recognising customer
loyalty
Professional instore
experience & margin
management
Care & advice
accessible to the
customer in multiple
channels
Leveraging our trusted
brands & advocating for
equity for all New
Zealanders
Workforce
productivity &
occupancy cost
control
GXH Half Year Results Presentation28 November 20249

Growth, leadership and sustainable
models of care
Medical
Division
Growth, leadership and sustainable
models of care
Medical
Division

Medical Performance
Revenue up 13% to $77.7m driven by
organic and acquisitive growth
Operating Profit up 12% to $8.2m, in
line with revenue growth
423,000 enrolled patients as at 30
September 2024, an increase of
24,000 (+6%) since 30 September
2023
Ownership in 65 medical centres
46.1
68.2
68.6
77.7
1H221H231H241H25
Medical Operating Revenue ($m)
1H221H231H24
1H25
5.7
9.3
7.3
8.2
1H221H231H241H25
Medical Operating Profit ($m)
1H221H231H24
1H25
GXH Half Year Results Presentation28 November 202411

Operational Highlights - Medical
Focus on cost and margin
management through procurement
activity to ensure opportunities from the
group’s scale are maximised
Investment in technology to enhance
productivity while providing easy to use
and accessible services to patients
Improvement in other costs to 15.9%
of Revenue in 1H25 vs 17.7% of
Revenue in 1H24
Rebranded HouseCall to The Doctors
Online to better align with service
offering
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
1
2
3
4
5
6
7
8
9
10
FY22 - H1FY23 - H1FY24 - H1FY25 - H1
% of Revenue
EBIT ($m)
Increased Efficiencies Through Operational
Improvements and Systematic Triaging
EBITEmployee costs %Other costs %
1H24
1H221H23
1H25
GXH Half Year Results Presentation28 November 202412

Evolving the Operating Model
The Doctors
App
Enhanced
Care
Paramedics
Nurse-led
clinics
Virtual and
in-centre GPs
Health
Improvement
Practitioners /
Health Coaches
Nurse
Practitioners
Over 110,000 active users on The Doctors App
allowing patients convenient management of
appointments, repeat prescription requests and
management of ongoing health conditions
19 medical centres staffed with new roles of
Health Improvement Practitioners and Health
Coaches focusing on mental health and addiction
Empowering all clinicians to perform at the top of
scope increasing patient access to services
Virtual GP offering supplementing in-centre GPs
and delivering patient services
GXH Half Year Results Presentation28 November 202413
423,000 enrolled patients

Medical Strategy and Future Focus
Patient & BrandScaleTechnologyOperations
Improvement
Cost & Margin
Targeted centre
acquisitions
Utilising data and
systems & omni-
channel offering
Continuous
improvement & clinical
development
Workforce
productivity &
margin
management
High quality patient
care
GXH Half Year Results Presentation28 November 202414

Group Financial Results
6 months ending 30 September 2024

Group Revenue and Operating Profit
•Revenue $259.9m, up 4% vs 1H24
•1H25 Revenue increase a result of organic
and acquisitive growth in Medical with
strong dispensary performance in Pharmacy
offsetting softer retail
•Operating Profit $16.1m, up 8% vs 1H24
•1H25 Operating Profit increase due to lift in
Medical Revenue along with labour
efficiencies and cost management initiatives
across both divisions
216.0
247.9
250.2
259.9
1H221H231H241H25
GXH Operating Revenue From Continuing
Operations ($m)
1H221H231H241H25
17.8
18.1
14.9
16.1
1H221H231H241H25
1H221H231H241H25
GXH Operating Revenue From Continuing Operations ($m)
GXH Operating Profit From Continuing Operations ($m)
GXH Half Year Results Presentation28 November 202416

Group NPAT, EPS & Dividend
•Net Profit After Tax Attributable to Shareholders
stable at $5.6m
•EPS constant at 3.9cps
•Interim dividend of 2.5cps declared – payment
date 18 December 2024
Based on dividends paid during the financial year
1H24 includes special dividend of 28.0cps paid following the divestment of the Community Health
division
7.8
7.1
5.6 5.6
1H221H231H241H25
GXH NPAT Attributable to Shareholders From
Continuing Operations ($m)
1H221H231H241H25
0.0
3.5
31.5
2.0
1H221H231H241H25
Dividends Per Share (cps)
1H221H231H241H25
5.4
4.9
3.93.9
1H221H231H241H25
GXH NPAT Attributable to Shareholders From
Continuing Operations (cps)
1H221H231H241H25
GXH Half Year Results Presentation28 November 202417

1H22
1H231H24
GXH Half Year Results Presentation28 November 2024
Working Capital and Operating Cashflow
•Gearing ratio of 16.9% as at 30 September 2024
•Undrawn debt facilities of $32.5m as at 30 September
2024
•Net debt position of $5.7m as at 30 September 2024
•Financing ratios:
–Debt / pre IFRS16 EBITDA – 1.1x
–Operating Profit / Interest expense – 14x
•Operating Cash Flow of $25.3m
Enabling investment ($3.7m) in:
•One pharmacy and one medical centre
•One rebrand and seven site refurbishments
•Ongoing investments in technology including six
pharmacy robots
14.3%
12.4%
16.2%
16.9%
Gearing Ratio (debt / debt + equity)
1H25
17.8
28.9
18.3
25.3
FY21FY22FY23FY24
GXH Operating Cash Flow ($m)
1H221H231H241H25
18

Our Purpose: Working together to support healthier communities.
We are passionately committed to the health and wellness of New Zealand, and to providing the best support,
care and advice to our communities. This is our promise.
GXH Half Year Results Presentation28 November 202419

---

Green Cross Health Limited
Consolidated interim financial statements
Half year ended 30 September 2024

Contents
Page
Half-year financial statements
Consolidated interim statement of comprehensive income2
Consolidated interim statement of changes in equity3
Consolidated interim statement of financial position4
Consolidated interim statement of cash flows5
Notes to the consolidated financial statements6
Company Directory12
-
1-

Green Cross Health Limited
Consolidated interim statement of comprehensive income
For the six months ended 30 September 2024
Six months
ended
30 Sep 2024
Six months
ended
30 Sep 2023
(Unaudited)(Unaudited)
Note$'000$'000
Operating revenue3259,877250,179
Operating expenditure4.2(234,979)(226,270)
Depreciation and amortisation expense(2,442)(2,704)
Depreciation - leases(7,155)(7,000)
Share of equity accounted net earnings802728
Operating profit before interest and tax16,10314,933
Interest income290357
Interest expense(1,170)(1,176)
Interest expense - leases(4,113)(3,597)
Net interest expense(4,993)(4,416)
Profit before tax11,11010,517
Income tax expense(3,021)(2,848)
Profit for the period8,0897,669
Other comprehensive income for the period, net of tax
--
Total comprehensive income for the period
8,0897,669
Attributable to:
Shareholders of the Parent5,6475,607
Non-controlling interest2,4422,062
8,0897,669
Earnings per share:
Basic earnings per share (cents)3.933.91
Diluted earnings per share (cents)3.933.90
The accompanying Notes to the Consolidated Financial Statements on pages 6 to 11 form part of the consolidated interim
financial statements.
-2-

Green Cross Health Limited
Consolidated interim statement of changes in equity
For the six months ended 30 September 2024
Share capital
Share based
payment
reserves
Retained
earnings
Non-
controlling
interest
Total equity
Note$'000$'000$'000$'000$'000
Balance at 1 April 2023 (Audited)90,760583100,06510,597202,005
Profit for the period--5,6072,0627,669
Total comprehensive income for the
period
--5,6072,0627,669
Distributions to non-controlling
interests
---(1,991)(1,991)
Impacts of other transactions--12971200
Dividends to shareholders7--(45,296)-(45,296)
Performance share rights charged to
SOCI
-50--50
Performance share rights vested183(183)---
Balance as at 30 September 2023
(Unaudited)
90,94345060,50510,739162,637
Balance at 1 April 2024 (Audited)90,94345062,87512,340166,608
Profit for the period--5,6472,4428,089
Total comprehensive income for the
period
--5,6472,4428,089
Distributions to non-controlling
interests
---(1,191)(1,191)
Impacts of other transactions--(1,003)(296)(1,299)
Dividends to shareholders7--(2,882)-(2,882)
Performance share rights vested150(150)---
Balance as at 30 September 2024
(Unaudited)
91,09330064,63713,295169,325
The accompanying Notes to the Consolidated Financial Statements on pages 6 to 11 form part of the consolidated interim
financial statements.
-3-

Green Cross Health Limited
Consolidated interim statement of financial position
As at 30 September 2024
As at
30 Sep 2024
As at
30 Sep 2023
As at
31 Mar 2024
(Unaudited)(Unaudited)(Audited)
Note$'000$'000$'000
ASSETS
Current assets
Cash and cash equivalents28,85218,45023,402
Trade and other receivables12,79117,70513,035
Contract assets11,48911,88012,514
Inventories33,07532,77730,445
Income taxes refundable3,7361,193404
Total current assets89,94382,00579,800
Non-current assets
Other receivables2,7822,5532,693
Property, plant and equipment19,25620,18218,979
Right-of-use assets94,87691,58297,084
Intangible assets165,890159,809165,937
Deferred tax assets12,25811,98411,977
Equity accounted group investments7,2986,8236,816
Total non-current assets302,360292,933303,486
Total assets392,303374,938383,286
LIABILITIES
Current liabilities
Trade payables and accruals69,44970,32063,074
Contract liabilities10,6018,1739,021
Borrowings1,8221,8782,573
Lease liabilities12,37112,79613,098
Total current liabilities94,24393,16787,766
Non-current liabilities
Borrowings32,70329,50132,372
Lease liabilities96,03289,63396,540
Total non-current liabilities128,735119,134128,912
Total liabilities222,978212,301216,678
Net assets
169,325162,637166,608
EQUITY
Share capital691,09390,94390,943
Share based payment reserve300450450
Retained earnings64,63760,50562,875
Total equity attributable to shareholders of the Parent156,030151,898154,268
Non-controlling interest13,29510,73912,340
Total equity
169,325162,637166,608
The accompanying Notes to the Consolidated Financial Statements on pages 6 to 11 form part of the consolidated interim
financial statements.
-4-

Green Cross Health Limited
Consolidated interim statement of cash flows
For the six months ended 30 September 2024
Six months
ended
30 Sep 2024
Six months
ended
30 Sep 2023
(Unaudited)(Unaudited)
Note$'000$'000
Cash flows from operating activities
Dividends received352888
Receipts from customers261,146247,513
Interest received256225
Payments to suppliers and employees(229,909)(223,883)
Income taxes paid(6,578)(6,419)
Net cash inflow from operating activities525,26718,324
Cash flows from investing activities
Purchases of property, plant and equipment and software intangibles(2,192)(3,184)
Acquisition of interests in equity accounted investments-(233)
Acquisition of interests in subsidiaries and non-controlling interests(1,466)(4,439)
Net cash outflow from investing activities(3,658)(7,856)
Cash flows from financing activities
Proceeds from borrowings54011,100
Repayment of borrowings(960)(3,258)
Payment of lease liabilities(6,082)(6,181)
Interest expense(1,222)(1,184)
Interest expense - leases(4,113)(3,597)
Distributions to non-controlling interest(1,568)(2,245)
Dividend paid(2,882)(45,296)
Net cash outflow from financing activities(16,287)(50,661)
Net increase/(decrease) in cash and cash equivalents5,322(40,193)
Cash and cash equivalents at the beginning of the financial year23,40258,215
Cash acquired: business combinations128428
Cash and cash equivalents at the end of the period
28,85218,450
Reconciliation of closing cash and cash equivalents to the consolidated
interim statement of financial position:
Cash and cash equivalents
28,85218,450
Closing cash and cash equivalents
28,85218,450
The accompanying Notes to the Consolidated Financial Statements on pages 6 to 11 form part of the consolidated interim
financial statements.
-5-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
1 Reporting Entity
Green Cross Health Limited (the “Parent” or the "Company") is a New Zealand company registered under the Companies
Act 1993 and is an FMC entity for the purposes of the Financial Reporting Act 2013 and the Financial Markets Conduct
Act 2013. The Financial Statements have been prepared in accordance with these Acts. The Company is listed on the

New Zealand Stock Exchange ("NZX").
The consolidated interim financial statements of Green Cross Health Limited comprise the Parent, its subsidiaries, and its
interest in associates and joint ventures (together referred to as the “Group”).
2 Basis of preparation of financial statements
(a) Statement of compliance
The consolidated interim financial statements have been prepared in accordance with Generally Accepted Accounting
Practice ("NZ GAAP"), NZ IAS 34 Interim Financial Reporting, and other applicable Financial Reporting Standards as
appropriate for profit oriented entities. These consolidated interim financial statements do not include all of the information
required for full annual financial statements and should be read in conjunction with the consolidated financial statements
of the Group as at and for the year ended 31 March 2024.
The consolidated interim financial statements for the six months ended 30 September 2024 and the comparative
information for the six months ended 30 September 2023 are unaudited.
The interim financial statements were approved by the Board of Directors on 27 November 2024.
(b) Basis of measurement
The interim financial statements of the Group are prepared under the historical cost basis unless otherwise noted within
the specific accounting policies below.
(c) Changes in accounting policy
The accounting policies applied by the Group in these consolidated interim financial statements are the same as those
applied by the Group in its consolidated financial statements for the year ended 31 March 2024.
(d) Significant estimates and judgments
In authorising the consolidated interim financial statements for the six months ended 30 September 2024, the Directors
have ensured that the specific accounting policies necessary for the proper understanding of the interim financial
statements have been disclosed, and that all accounting policies adopted are appropriate for the Group’s circumstances
and have been consistently applied throughout the period for all Group entities for the purposes of preparing the
consolidated interim financial statements.
Inherent in the application of certain accounting policies, judgments and estimates are required. The Directors note that
the actual results may differ from the judgments and estimates made.
The significant judgments made by management in applying the Group’s accounting policies and the key sources of
estimation uncertainty were the same as those described in the last annual financial statements.
-
6-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
(continued)
3 Segment reporting
The Group has two reportable segments: pharmacy services and medical services. The pharmacy services segment
provides retail and dispensary services and the medical services segment provides GP, nursing and urgent care services.
The Group's main operations are in the pharmacy industry providing pharmacy services through consolidated stores,
equity accounted investments and franchise stores. The medical services segment includes fully owned and equity
accounted medical centres, and support services provided to these medical centres, as well as medical centres outside
the Group.
Operating segments
Note
Pharmacy
services
Medical
servicesCorporateTotal
$'000$'000$'000$'000
30 September 2024 (Unaudited)
External revenues4.1182,21577,659-259,874
Other income3--3
Cost of products sold(110,267)(116)-(110,383)
Employee benefit expense(40,884)(57,075)-(97,959)
Lease expenses(1,618)(108)-(1,726)
Other expenses(14,881)(9,012)(1,018)(24,911)
Depreciation and amortisation(1,552)(946)-(2,498)
Depreciation - leases(4,208)(2,891)-(7,099)
Share of equity accounted net earnings
110692-802
Segment Profit
8,9188,203(1,018)16,103
Interest income290
Interest expense(1,170)
Interest expense - leases
(4,113)
Profit before tax11,110
Tax expense
(3,021)
Profit after tax8,089
Non-controlling interest
(2,442)
Net Profit attributable to the shareholders
of the Parent
5,647
Reportable segment assets278,611124,451(10,759)392,303
Reportable segment liabilities139,49394,244*(10,759)222,978
*Intersegmental elimination
-
7-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
(continued)
3 Segment reporting(continued)
Note
Pharmacy
services
Medical
servicesCorporateTotal
$'000$'000$'000$'000
30 September 2023 (Unaudited)
External revenues4.1181,46968,627-250,096
Other income6914-83
Cost of products sold(106,030)(149)-(106,179)
Employee benefit expense(40,577)(49,183)-(89,760)
Lease expenses(2,511)(194)-(2,705)
Other expenses(18,047)(8,530)(1,049)(27,626)
Depreciation and amortisation(1,756)(948)-(2,704)
Depreciation - leases(4,314)(2,686)-(7,000)
Share of equity accounted net earnings
349379-728
Segment Profit
8,6527,330(1,049)14,933
Interest income357
Interest expense(1,176)
Interest expense - leases
(3,597)
Profit before tax10,517
Tax expense
(2,848)
Profit after tax7,669
Non-controlling interest
(2,062)
Net Profit attributable to the shareholders
of the Parent
5,607
Reportable segment assets259,641126,375(11,078)374,938
Reportable segment liabilities132,36191,018*(11,078)212,301
*Intersegmental elimination
-
8-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
(continued)
4 Operating performance
4.1 Revenue
The Group's operations and revenue streams are those described in the last annual financial statements. The Group's
revenue is derived from contracts with customers.
Six months
ended
30 Sep 2024
Six months
ended
30 Sep 2023
(Unaudited)(Unaudited)
Revenue from contracts with customers$'000$'000
Pharmacy retail and dispensary164,945160,743
Other pharmacy services17,27020,726
Medical services
77,65968,627
259,874250,096
Disaggregation of contract revenueReportable segments
Pharmacy
services
Medical
servicesTotal
$'000$'000$'000
Six months ended 30 September 2024 (Unaudited)
Timing of revenue recognition
Transferred at a point in time176,53735,648212,185
Transferred over time
5,67842,01147,689
182,21577,659259,874
Pharmacy
services
Medical
servicesTotal
$'000$'000$'000
Six months ended 30 September 2023 (Unaudited)
Timing of revenue recognition
Transferred at a point in time175,89030,684206,574
Transferred over time
5,57937,94343,522
181,46968,627250,096
4.2 Operating expenditure
Six months
ended
30 Sep 2024
Six months
ended
30 Sep 2023
(Unaudited)(Unaudited)
$'000$'000
Cost of products sold110,383106,179
Employee benefit expense97,95989,760
Lease expenses1,7262,705
Other expenses
24,91127,626
234,979226,270
-9-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
(continued)
5 Operating cash flow reconciliation
Six months
ended
30 Sep 2024
Six months
ended
30 Sep 2023*
(Unaudited)(Unaudited)
$'000$'000
Profit for the period8,0897,669
Add/(deduct) non-cash items:
Depreciation, amortisation and impairment9,5979,704
Other non-cash items(594)(541)
Add/(deduct) changes in working capital:
Receivable and accruals movement1,180(1,397)
Inventory(2,630)(816)
Payable and accruals movement7,9552,306
Provision for tax movement(3,613)(3,017)
Add items classified as cash flows from financing activities:
Interest expense1,170819
Interest expense - leases
4,1133,597
Net cash inflow from operating activities
25,26718,324
*Comparative information includes re-presentations for consistency with the current period.
6 Shares on issue
As at
30 Sep 2024
As at
30 Sep 2023
As at
31 Mar 2024
(Unaudited)(Unaudited)(Audited)
'000'000'000
Shares authorised and on issue
Opening number of shares143,462143,285143,285
Shares issued - fully paid141177177
Shares issued - partly paid---
Shares cancelled - partly paid
---
143,603143,462143,462
Performance share rights
226489367
143,829143,951143,829
Net tangible assets/(liabilities) per share (cents)^(6.14)(6.38)(7.88)
Net assets per share (cents)*117.91113.37116.13
^The calculation of net tangible assets / (liabilities) per share is based on net assets less deferred tax and intangible
assets and the closing number of ordinary shares at the end of the period.
*The calculation of net assets per share is based on net assets and the closing number of ordinary shares at the end of
the period.
Performance share rights of 225,602 are on issue as at 30 September 2024. These were issued to some senior
executives on 27 June 2022 and 26 June 2023.
-
10-

Green Cross Health Limited
Notes to the consolidated financial statements
For the six months ended 30 September 2024
(continued)
7 Dividends
On 21 June 2024 Green Cross Health Limited paid a final dividend for the March 2024 year of 2.0 cents per qualifying
ordinary share to shareholders, which was fully imputed at 28%.
Six months
ended
Six months
endedYear ended
30 Sep 202430 Sep 202331 Mar 2024
cents per
share
cents per
share
cents per
share
Dividends per share
2.0031.5034.00
8 Subsequent events
On 27 November 2024, Green Cross Health Limited declared an interim dividend of 2.5 cents per qualifying ordinary share
amounting to $3.6m, which will be fully imputed at 28%. The dividend record date is 5 December 2024 and payment will
occur on 18 December 2024.
No adjustment is required to these consolidated interim financial statements in respect of this event.
-
11-

Green Cross Health Limited
Company Directory
BoardK Ellis
Independent Chair
J A Bagnall
Non-Executive Director
J B Bolland
Non-Executive Director
C M Brockliss
Non-Executive Director
P M Merton
Non-Executive Director
K A Orr
Independent Director
C M Steele
Independent Director
OfficersRachael Newfield
Group CEO
Kalpana Goundar
CFO/Company Secretary
Registered officeGreen Cross Health Limited
Ground Floor, Building B
602 Great South Road
Ellerslie. Auckland 1051
Telephone: +64 9 571 9080
Share registerComputershare Investor Services Limited
Private Bag 92119
Auckland 1142
Level 2, 159 Hurstmere Road
Takapuna, Auckland 0622
Managing your shareholding online:
To change your address, update your payment instructions and to view your
registered details including transactions, please visit:
www.investorcentre.com/nz
General enquiries can be directed to:
enquiry@computershare.co.nz
Telephone: +64 9 488 8700
Facsimile: +64 9 488 8787
Please assist our registrar by quoting your CSN or shareholder number.
AuditorKPMG
KPMG Centre
18 Viaduct Harbour Avenue
Auckland Central
Auckland 1010
-12-

Green Cross Health Limited
Company Directory(continued)
BankersBank of New Zealand
80 Queen Street
Auckland Central
Auckland 1010
Bank of China
205 Queen Street
Auckland Central
Auckland 1010
Investor relationsFor investor relations enquiries:
Phone: 09 571 9088
Email: investorrelations@gxh.co.nz
Websiteswww.greencrosshealth.co.nz
www.thedoctorsonline.co.nz
www.lifepharmacy.co.nz
www.livingrewards.co.nz
www.pilldrop.co.nz
www.thedoctors.co.nz
www.unichem.co.nz
-13-

---

Green Cross Health Results Announcement 28/11/2024

(for Equity Security issuer/Equity and Debt Security issuer)

Results for announcement to the market
Name of issuer Green Cross Health Limited (GXH)
Reporting Period 6 months to 30 September 2024
Previous Reporting Period 6 months to 30 September 2023
Currency New Zealand Dollars
Amount (000s) Percentage change
Revenue from continuing
operations
$259,877 +3.9%
Total Revenue $259,877 +3.9%
Net profit/(loss) from
continuing operations
$5,647* +0.7%
Total net profit/(loss) $5,647* +0.7%
Final Dividend
Amount per Quoted Equity
Security
$0.02500000
Imputed amount per Quoted
Equity Security
$0.00972222
Record Date 05/12/2024
Dividend Payment Date 18/12/2024
Current period Prior comparable period
Net tangible assets per
Quoted Equity Security
$(0.06) $(0.06)
A brief explanation of any of
the figures above necessary
to enable the figures to be
understood
Due to the nature of the Company’s business, intangible assets
are a major component of total assets. Net assets per quoted
equity security are $1.18 (30 September 2023: $1.13)
Please refer to the attached unaudited Financial Statements for
the 6 months ended 30 September 2024.
* attributable to shareholders
Authority for this announcement
Name of person

authorised
to make this announcement
Kalpana Goundar - CFO
Contact person for this
announcement
Kalpana Goundar - CFO
Contact phone number 09 571 9080
Contact email address kalpana.goundar@greencrosshealth.co.nz
Date of release through MAP

28/11/2024

Unaudited financial statements accompany this announcement.

---

Distribution Notice 28/11/2024


Please note: all cash amounts in this form should be provided to 8 decimal places

Section 1: Issuer information
Name of issuer Green Cross Health Limited
Financial product name/description Ordinary Shares
NZX ticker code GXH
ISIN (If unknown, check on NZX
website)
NZBDOE0001S8
Type of distribution
(Please mark with an X in the
relevant box/es)
Full Year Quarterly
Half Year X Special
DRP applies No
Record date 05/12/2024
Ex-Date (one business day before the
Record Date)
04/12/2024
Payment date (and allotment date for
DRP)
18/12/2024
Total monies associated with the
distribution
1

$3,590,065
Source of distribution (for example,
retained earnings)
Retained Earnings
Currency New Zealand Dollars
Section 2: Distribution amounts per financial product
Gross distribution
2
$0.03472222
Gross taxable amount
3
$0.03472222
Total cash distribution
4
$0.02500000
Excluded amount (applicable to listed
PIEs)
N/A
Supplementary distribution amount $0.00441176
Section 3: Imputation credits and Resident Withholding Tax
5


1
Continuous issuers should indicate that this is based on the number of units on issue at the date of the form
2
“Gross distribution” is the total cash distribution plus the amount of imputation credits, per financial product, before the deduction of
Resident Withholding Tax (RWT).
3
“Gross taxable amount” is the gross distribution minus any excluded income.
4
“Total cash distribution” is the cash distribution excluding imputation credits, per financial product, before the deduction of RWT.
This should include any excluded amounts, where applicable to listed PIEs.
5
The imputation credits plus the RWT amount is 33% of the gross taxable amount for the purposes of this form. If the distribution is
fully imputed the imputation credits will be 28% of the gross taxable amount with remaining 5% being RWT. This does not constitute
advice as to whether or not RWT needs to be withheld.

Is the distribution imputed

Fully imputed


If fully or partially imputed, please
state imputation rate as % applied
6

28%
Imputation tax credits per financial
product
$0.00972222
Resident Withholding Tax per
financial product
$0.00173611
Section 4: Distribution re-investment plan (if applicable)
DRP % discount (if any)
N/A
Start date and end date for
determining market price for DRP
N/A N/A
Date strike price to be announced (if
not available at this time)
N/A
Specify source of financial products to
be issued under DRP programme
(new issue or to be bought on market)
N/A
DRP strike price per financial product
N/A
Last date to submit a participation
notice for this distribution in
accordance with DRP participation
terms
N/A
Section 5: Authority for this announcement
Name of person

authorised to make
this announcement
Kalpana Goundar – CFO
Contact person for this
announcement
Kalpana Goundar - CFO
Contact phone number 09 571 9080
Contact email address kalpana.goundar@greencrosshealth.co.nz
Date of release through MAP

28/11/2024






6
Calculated as (imputation credits/gross taxable amount) x 100. Fully imputed dividends will be 28% as a % rate applied.