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.
Healthcare |
Flash note
Healthcare |
Update
Healthcare |
Flash note
Healthcare |
Flash note
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 | (8.1) | (9.0) | (11.6) |
Relative | (9.8) | (11.1) | (12.1) |
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 in South-East Asia and Europe to handle its growing export business. AFT reported strong H124 results with 27.2% y-o-y top-line growth, driven by strong momentum in the Asian and International markets. It targets rolling 12-month revenue of NZ$200m and FY24 operating profit of NZ$23–25m (including the US$6m milestone payment from Hikma Pharmaceuticals) and intends to declare a dividend for FY24. Maxigesic IV was launched in the US in January 2024, and portfolio expansion and and geographical diversification remain the key strategic priorities for the company in the near term.
Y/E Mar | Revenue (NZ$m) | EBITDA (NZ$m) | PBT (NZ$m) | EPS (c) | P/E (x) | P/CF (x) |
---|---|---|---|---|---|---|
2022A | 130.3 | 21.4 | 18.9 | 19.2 | 15.9 | 16.1 |
2023A | 156.6 | 21.4 | 16.7 | 11.0 | 27.7 | 30.0 |
2024E | 187.5 | 25.6 | 22.3 | 15.5 | 19.7 | 20.6 |
2025E | 223.5 | 30.0 | 26.3 | 18.2 | 16.8 | 17.4 |