Excluding one-off merger onboarding costs, the results reveal a strong balance sheet and financial performance.
Sigma Healthcare Limited has reported its final standalone full-year financial results prior to its merger with Chemist Warehouse Group, which took effect last month.
The results saw a 45.7% rise in statutory net revenue to $4.8 billion, while onboarding costs associated with the merger led to an EBITDA decrease of 7.9% to $47.5 million.
Highlights of the year included a new five-year wholesale industry agreement to sustain distribution of medicines throughout Australia and an 8.5% jump in wholesale sales across its Amcal and Discount Drug Stores brands.
Describing the financial year as “transformational”, Sigma CEO and Managing Director Vikesh Ramsunder said the company has executed its three-year strategy to build scale, drive efficiencies and enhance its margin.
“This laser focus has materially enhanced our operational performance, and these final stand-alone results illustrate the strong underlying performance of the business,” he said.
The company advised the Chemist Warehouse Group merger meant there would be no dividend paid, with the future dividend payout ratio expected to be around 50-70% of net after-tax profits. Directors from the merged entity will meet to determine the future dividend policy.
More details in today’s issue of Pharmacy Daily.
