News: MPL Medibank Private Says Non-Recurring Fy23 Cybercrime Costs Expected To Be A$40M-A$45M

Feb 23 (Reuters) - Medibank Private Ltd (MPL) :

• NON-RECURRING FY23 CYBERCRIME COSTS EXPECTED TO BE A$40M-A$45M
• EARLY SIGNS OF IMPROVEMENT IN POLICYHOLDER TRAJECTORY GIVES CONFIDENCE IN REGAINING GROWTH MOMENTUM IN RESIDENT BUSINESS
• EXPECT RESIDENT POLICYHOLDER GROWTH OF APPROXIMATELY 0.5%-0.75% FOR FY23
• LAST MONTH NET RESIDENT POLICYHOLDER LOSS SLOWED TO 1,100, WHILE THIS MONTH UP TO 18 FEBRUARY, SEEN NET GROWTH OF 200
• WHILE WE DID SEE SOME IMPACTS TO RESIDENT POLICYHOLDER GROWTH IN Q2, THERE ARE POSITIVE SIGNS OF RECOVERY
• SHORT-TERM FOCUS ON REGAINING MOMENTUM IN CORE RESIDENT BUSINESS
• MEDIBANK PRIVATE LTD SEES FY23 MANAGEMENT EXPENSES EXPECTED TO BE ABOUT A$560M
• MEDIBANK PRIVATE LTD SEES FY23 UNDERLYING MER NOT EXPECTED TO BE ABOVE FY22
• MEDIBANK PRIVATE LTD SEES TARGET A$30M PRODUCTIVITY SAVINGS IN FY23-FY25, INCLUDING A$10M IN FY23