The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Saul Hadassin - Barrenjoey Markets Pty Limited, Research Division - Analyst
: A couple of questions. Just on hospital hardware. Just looking at the second half revenues, it looks like the run rate is still running at about double
the sort of the pre-COVID levels of sales. I'm just wondering as you move into FY '23, the decline in hardware sales this fiscal year, I mean, do you
expect to be able to still maintain hospital hardware sales above a pre-COVID level? Do you think we're heading back to that more circa $45 million,
$50 million per half or is it too early to say?
Question: Saul Hadassin - Barrenjoey Markets Pty Limited, Research Division - Analyst
: And I guess, again, is it -- are you still seeing pull-through sales for hardware in some regions, where COVID is still a bit of an issue?
Question: Saul Hadassin - Barrenjoey Markets Pty Limited, Research Division - Analyst
: Sure. And just one other one for me. Just looking at the -- your guidance you've given around the number of years to convert for that hardware
and the growth of hospital consumables. Lewis, what -- I mean how much influence do you guys have on reaching that -- those targets based on
those years? In other words, if you were to accelerate your SG&A expense, could that get you to an earlier time frame and hence the higher rate of
growth?
In other words, is there a drop through to EBIT, if you reach, if you achieve that? Or does it -- is there an offset through having to expense a lot more
SG&A to get you to 3 years versus, say, 5 years?
I'm just trying to work out what assumptions you've made as to what would get you to those 3 years, 4 years or 5 years of conversion?
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MAY 24, 2022 / 10:00PM, FPH.NZ - Full Year 2022 Fisher & Paykel Healthcare Corporation Ltd Earnings Call
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