AFT Full-Year Report 2024

Chair David Flacks said: “Today’s announcement underscores the strengths of AFT’s approach to international expansion and sustainable growth. We’ve benefited from growing demand for our products in both our home markets and further afield, reaping the rewards of careful and consistent investment into research and development and the product pipeline.”

“With the recent launch of the intravenous form of our Maxigesic® pain relief medicine in the US and the impending US launch of the line extension, the rapid dissolving tablet Maxigesic Rapid, our proprietary products are now positioned in a significant number of the world’s major healthcare markets.”

Highlights

• Full-year operating revenue up 25% to $195.4 million, lifted by 20% growth in product sales and royalties across all channels and territories and $8.5 million of licensing income.
• Sales in International and Asian markets (excluding licensing income) rise 70%.
• Record EBITDA2 of $26.2 million up 22% and Operating Profit of $24.2 million up 23%.
• Net profit after tax increases 46% to $15.6 million.
• Net debt of $16.2 million down from $29.9 million at the end of FY23.
• Dividend declared of 1.6 cents per share, (1.1 cents declared FY23).
• Maxigesic® IV launched in the US in February 2024 following FDA approval. Advancing plans for the launch of the antiseptic cream Crystaderm® this calendar year in China, the world’s second-largest healthcare market.
• Near term rolling twelve-month stretch revenue target of $200 million in touching distance and now focused on $300 million target.