EBOS’ strong performance has continued with another record result and double-digit earnings growth
Full Year Highlights
- Revenue of $9.2 billion, exceeding $9 billion for the first time (up 5.0%)
- Statutory Audited Net Profit after Tax (NPAT) of $185.3 million (up 14.0%)
- Underlying Net Profit after Tax (Underlying NPAT) of $188.2 million (up 15.5%)
- Final dividend declared of NZ 46.0 cents per share, bringing total dividends declared for the year to NZ 88.5 cents per share (up 14.2%)
- Continued strong performances from both our Healthcare and Animal Care segments, with Healthcare’s Underlying EBIT up 11.4% and Animal Care’s EBIT up 26.4%
- Excellent operating cash flow (before capex) of $298.3 million (up 30.1%)
- Inaugural Sustainability Report released today
- Consistent with our strategy of investing for growth, EBOS today announces:
- a significant capital investment in a new state of the art pet food manufacturing facility to facilitate insourced manufacturing of Black Hawk and accelerate new product development opportunities
- a number of acquisitions in a further expansion of our Institutional Healthcare division
- Strong balance sheet, with Net Debt : EBITDA of 0.85x (1.11x at June 2020)
EBOS Group Limited (“EBOS” or the “Group”) today announced another record result for the 2021 financial year, with key highlights including double-digit earnings growth and several growth investments. In today’s results announcement, EBOS Chief Executive Officer, John Cullity said:
“It is pleasing to report another record profit for EBOS for FY21. Our double-digit earnings growth reflects a continuation of the strong first half that we announced in February 2021. In addition, throughout the year we have made several exciting investments that position the Group for continued growth in the future.”
“The strength and diversity of our portfolio of businesses continues in the current difficult environment as both our Healthcare and Animal Care segments contributed strongly to the overall result.”
“Our Healthcare segment benefited from its leading market positions and had strong contributions from each of our Community Pharmacy, TerryWhite Chemmart (“TWC”), Institutional Healthcare and Contract Logistics divisions.”
“The Animal Care segment has continued its strong first half performance with each of our key brands and divisions – Black Hawk, Vitapet and Lyppard – recording robust sales growth. Pet market conditions continue to be strong and our leading brands and divisions have capitalised on these opportunities.”
“Consistent with our strategy of investing for growth, EBOS is pleased to announce a significant capital investment in our Animal Care segment and a number of strategic acquisitions in our Healthcare segment that further expand and diversify our earnings. EBOS is investing approximately $80 million in a new state of the art pet food manufacturing facility in NSW, Australia that will facilitate insource manufacturing of Black Hawk as well as accelerate new product development opportunities. The initiative is expected to generate returns over the medium term in line with the Group’s Return on Capital Employed (“ROCE”). In addition, subsequent to 30 June 2021, EBOS has acquired another medical devices distribution business and has a high degree of certainty of executing a further acquisition in the near term that will expand our Institutional Healthcare division. These two acquisitions will have aggregate consideration of approximately $80 million and each will be EPS accretive to shareholders.”
“EBOS is pleased to have also released today its inaugural Sustainability Report which reports on its Environmental, Social and Governance (ESG) activity over the financial year. This is a key initiative that will serve as the framework for responsible governance and organisational practices to ensure we continue to meet the expectations of our stakeholders and maintain our social license to operate.”
