EBOS reports significant increase in first half earnings
First Half Highlights
- Revenue $4.4 billion (up 25.2%).
- Statutory EBITDA $167.2 million (up 36.4%).
- Statutory NPAT $81.7 million (up 21.8%).
- Underlying EBITDA $149.0 million (up 13.4%).
- Underlying NPAT $84.2 million (up 15.8%).
- Very strong performance from our Community Pharmacy business demonstrating its leading position with revenues increasing by 35.4%.
- The launch of EBOS Medical Devices with the acquisition of LMT and National Surgical for $34 million.
- The opening of our new Consumer Products distribution and manufacturing facility in Auckland.
- Strong growth in the TerryWhite Chemmart network including 16 new stores and network sales growth of 5.7%.
- Continued market share gains in our Healthcare Logistics business across both Australia and New Zealand.
- Strong balance sheet with Net Debt : EBITDA @1.41x.
EBOS today announced strong growth in revenue and earnings for the first half of FY 2020.
In today’s results announcement EBOS Chief Executive Officer, John Cullity said:
“Our strong results are reflective of the commencement of the Chemist Warehouse Group (CWG) pharmaceutical wholesale contract, together with strong performances from our Institutional Healthcare, Contract Logistics and TerryWhite Chemmart (TWC) Group businesses reflecting the strength of the EBOS business model. Our extensive and diverse portfolio has again delivered a significant increase in both revenue and earnings as shown in today’s results.
“The growth in our pharmacy wholesale and contract logistics businesses is testament to the Group’s capital investment strategy over recent years which has enabled us to productively manage the significant uplift in volumes and revenues”, Mr Cullity said.
“Our Community Pharmacy business grew revenues by 35.4% following the successful commencement of both the CWG contract and growth within our existing customer base, including the TWC Group”, Mr Cullity said.