Medibank reported H1 FY26 group operating profit of AUD 381.7 million (+6.0%) on group revenue from external customers of AUD 4.50 billion (+5.5%). Profit before tax was AUD 444.6 million (-1.1%) and net investment income was AUD 94.9 million (-17.1%). Net profit after tax attributable to shareholders was AUD 302.9 million (-11.0%), while underlying net profit after tax was AUD 297.8 million (-0.3%) and underlying EPS was 10.8 cents (flat). The interim ordinary fully franked dividend was 8.3 cents per share (+6.4%). In Health Insurance, operating profit was AUD 361.5 million (+3.5%) with an operating margin of 8.5% (unchanged) and an expense ratio of 7.7% (up 10 bps). Premium revenue rose to AUD 4.26 billion (+4.3%) and claims expense increased to AUD 3.59 billion (+4.9%). Net resident policyholders rose to 2.02 million (+1.9%), while non-resident policy units ended H1 FY26 at 349,100 (+0.4%). Medibank Health segment profit was AUD 48.3 million (+28.5%) on revenue of AUD 291.1 million (+27.5%), with the segment contributing about 13% of group operating profit. Operational highlights included 55% of Medibank resident policyholders engaged in health and wellbeing services, 1.01 million Live Better rewards participants, 70,000 virtual health interactions for Medibank customers, and 100,000 hospital bed days saved through homecare programs. In primary care, Medibank cited a national rollout of Amplar Health Online doctor and the acquisition of Better Medical for AUD 163.5 million (completed 16 December 2025), taking the network to 168 clinics and supporting 1.67 million GP consults in H1 FY26, with virtual consults at 22.8%. The company also flagged non-recurring cybercrime costs of AUD 15.0 million in H1 FY26 and said FY26 costs related to cyber and associated matters are expected to be around AUD 35 million, excluding outcomes of regulatory investigations or litigation. Medibank said it remains on track to deliver its FY26 outlook and retains appetite and financial capacity for further M&A.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Medibank Private Ltd. published the original content used to generate this news brief on February 18, 2026, and is solely responsible for the information contained therein.