EBOS Group (EBO) H2 2025 earnings summary

Executive summary

• Achieved solid organic growth in FY 2025, supported by new customer wins in pharmacy wholesale and expansion in medical technology and animal care.

• Completed five strategic acquisitions, including SVS and Next Generation Pet Foods, enhancing manufacturing and market reach.

• Maintained disciplined cost management, delivering AUD 30 million in savings and 20bps cost-out, while progressing the Distribution Center Renewal program.

• Distribution center renewal program to conclude in FY26, with $130-140m final capex investment and 20% net capacity increase.

• Portfolio well-positioned for long-term growth across pharmaceutical, medical technology, and animal care markets.

Financial highlights

• Underlying revenue grew 12% year-over-year to AUD 12.3 billion; underlying EBITDA rose 7.5% to AUD 585 million (excl. CWA).

• Underlying EPS was AUD 1.313 per share; total FY 2025 dividend was AUD 1.185 per share, unchanged from prior year.

• Statutory revenue $12,267m (-7.0%), statutory EBITDA $556m (-8.3%), statutory EPS 109.7c (-22.4%).

• Net profit after tax (Underlying) $258m, statutory NPAT $215m.

• Cash flow before capex $448m, underlying free cash flow $302m, cash realization at 109%.

Outlook and guidance

• Targeting underlying EBITDA of AUD 615m–635m in FY 2026, a 7% uplift at midpoint.

• Expect growth in both healthcare and animal care segments, with similar drivers as FY 2025.

• CapEx for FY 2026 expected at AUD 130m–140m, with future annual CapEx to reduce by ~30% post-DC Renewal program.

• Net finance costs projected at AUD 110m–120m; effective tax rate ~28%.