EBOS reports a record FY20 result and significant increase in earnings
Full Year Highlights
- Revenue $8.8 billion (up 26.5%).
- Underlying EBITDA $296.6 million (up 13.4%) and Underlying NPAT $168.3 million (up 16.5%).
- Very strong performances from both our Healthcare and Animal Care segments demonstrating the strength of their market leading positions. Healthcare underlying EBITDA grew by 14.8% and Animal Care underlying EBITDA improved by 8.3%.
- The net overall impact of COVID-19 on the Group’s financial performance was broadly neutral for FY20, albeit there were both positive and negative trends in particular months as the pandemic evolved. Trading conditions improved towards the end of the financial year.
- Excellent operating cash flow of $229.2 million as a result of the increase in earnings combined with the Group’s industry leading management of working capital.
- Capital investments (including acquisitions and capital expenditure) of $73.5 million, reflecting the Group’s continued strategy of investing for both organic and inorganic growth.
- Strong balance sheet, with Net Debt / EBITDA of 1.11x, reinforced through recent refinancing initiatives which increased the weighted average maturity of our debt facilities to 2.5 years.
- Final dividend declared of NZ 40.0 cents per share, taking total dividends declared for FY20 to NZ 77.5 cents (up 8.4%).
EBOS Group Limited (“EBOS” or the “Group”) today announced a record result for the 2020 financial year, including strong growth in revenue, earnings and operating cash flow.
In today’s results announcement EBOS Chief Executive Officer, John Cullity said:
“It is pleasing to report on the 2020 financial year with a record financial result for EBOS. As a provider of essential healthcare and consumer products and part of the region’s critical medical supply chain, we have remained operational throughout the COVID-19 pandemic and have continued to serve our customers and provide employment to our employees. EBOS has market leading positions in stable, defensive industries and has a strong balance sheet. These attributes have held us in good stead during these times.”
“Each of our business segments contributed to the substantial growth in Group revenue and our record FY20 result. This again reinforces the strength of our diverse portfolio of businesses. Our Community Pharmacy business recorded a very strong performance reflecting the benefits from increased scale as we successfully commenced wholesale distribution of the Chemist Warehouse volumes. This was supported by further strong performances in our Institutional Healthcare, Contract Logistics and Animal Care businesses.”