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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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
Forecast net debt (NZ$m)
25.6
Forecast gearing ratio (%)
29
% | 1M | 3M | 12M |
---|---|---|---|
Actual | 4.1 | (14.5) | (11.0) |
Relative | 4.4 | (14.2) | (7.5) |
52 week high/low | 3.9/2.8 |
AFT Pharmaceuticals is a profitable New Zealand-based specialty pharmaceutical company that sells over 150 proprietary branded and generic products through its own salesforce in New Zealand and Australia, with offices across the globe to handle its growing export business. AFT reported strong H124 results with 27.2% y-o-y top-line growth, and targets an FY24 operating profit of NZ$23–25m besides intending to declare a dividend for FY24. It launched Maxigesic IV in the US in January 2024, and continues to focus on further portfolio expansion and geographical diversification. It has recently announced new manufacturing agreements for Maxigesic Rapid and Crystaderm (ahead of their expected launches in the US and China markets, respectively), partnership expansion with Hikma (to expand in Middle East) and its entry into the UK market.
Y/E Mar | Revenue (NZ$m) | EBITDA (NZ$m) | PBT (NZ$m) | EPS (c) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 130.3 | 21.4 | 18.9 | 19.2 | 16.0 | 16.2 |
2023A | 156.6 | 21.4 | 16.7 | 11.0 | 27.9 | 30.2 |
2024E | 187.5 | 25.6 | 22.3 | 15.5 | 19.8 | 20.8 |
2025E | 223.5 | 30.0 | 26.3 | 18.2 | 16.9 | 17.5 |