AFT Pharmaceuticals (ASX: AFT)

Last close As at 18/05/2024

NZD2.84

0.18 (6.77%)

Market capitalisation

NZD298m

AFT Pharmaceuticals is a specialty pharmaceutical company that operates primarily in Australasia but has product distribution agreements across the globe. The company’s product portfolio includes prescription and over-the-counter (OTC) drugs to treat a range of conditions and a proprietary nebuliser.

AFT Pharmaceuticals is a multi-product company targeting pharmacy prescription, OTC and hospital markets. Data for Maxigesic offer it a competitive advantage in a fragmented industry.

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Sector

Healthcare

Equity Analyst

Soo Romanoff

Soo Romanoff

Managing Director - Head of Content, Healthcare

Nidhi Singh

Nidhi Singh

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Arron Aatkar

Associate analyst

Key Management

  • David Flacks

    Chairman

  • Dr Hartley Atkinson

    CEO

  • Malcolm Tubby

    Chief Financial Officer

  • Michael Weinmann

    Member of the Board of Directors

  • Nathan D. Hukill

    Member of the Board of Directors

Balance Sheet

Forecast net debt (NZ$m)

25.6

Forecast gearing ratio (%)

29

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (8.4) (20.5) (15.7)
Relative (7.7) (19.6) (11.3)
52 week high/low 3.9/2.6

Financials

AFT continues to expand its Maxigesic IV footprint with the announcement of a licensing agreement in Brazil, the largest pharma market in South America and tenth largest market globally. The deal signed with Halex Istar, a leading manufacturer of injectables in the country, provides a strong foundation for further extension into the Latin American and global markets, an overarching long-term goal for AFT. Maxigesic IV is a higher-strength version of AFT’s proprietary paracetamol plus ibuprofen formulation targeting post-surgical pain relief in the hospital setting. It is currently available in 36 countries, including the US, with the recent launch by Hikma, its distribution partner.

Y/E Mar Revenue (NZ$m) EBITDA (NZ$m) PBT (NZ$m) EPS (c) P/E (x) P/CF (x)
2022A 130.3 21.4 18.9 19.2 14.8 15.0
2023A 156.6 21.4 16.7 11.0 25.8 27.9
2024E 187.5 25.6 22.3 15.5 18.3 19.2
2025E 223.5 30.0 26.3 18.2 15.6 16.2

Thematics

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