EBOS delivers record 2018 earnings

EBOS Group today announced a record financial performance for the 2018 financial year delivering net profit after tax of $149.6 million. The results reflect a year of strong organic growth combined with the added benefit of a number of strategic acquisitions.

Financial Highlights:

• Group revenue stable at $7.6 billion
• EBITDA growth of 16.2% (+10.3% underlying, constant currency basis)
• Net Profit after Tax up 12.2% (+5.5% underlying, constant currency basis)
• Strong Operating Cashflow before capital expenditure of $176.2 million (+$32.2 million)
• Earnings per Share growth of 12.1% (+5.4% underlying, constant currency basis)
• Net Debt to EBITDA of 1.74x (last year 1.79x)

“We are pleased to once again report strong financial results. We have delivered underlying, constant currency EBITDA growth slightly ahead of our guidance to the market. The financial results, combined with strong free cash flow reflect a consistent positive momentum across both our Healthcare and Animal Care businesses”, said CEO, John Cullity.

“During the 2018 financial year we have fully transitioned HPS into the Group, further expanding our position in the Institutional Healthcare market. In October 2017, we acquired a strategic 14.1% shareholding in MedAdvisor Ltd, an Australian digital medication management company and in March 2018, we acquired one of New Zealand’s leading footcare consumer brands, Gran’s Remedy.

“Of equal importance to our M&A activity is the organic growth we are seeing across our diversified portfolio. FY18 has been a strong year for our Animal Care business. In July 2017, we exited a long-standing agency contract to focus on launching our own brand, Black Hawk, into New Zealand. The brand is performing ahead of expectations and receiving strong support from our New Zealand retail partners and customers.

“In Healthcare, Red Seal continues to perform well in New Zealand and is recording strong growth rates in international markets. The rebranding of approximately 400 Terry White Chemmart retail pharmacies has also now been completed.”, Mr Cullity said.

“Our major capital projects in both Australia and New Zealand have all seen excellent progress over the period. The new Christchurch and Sydney Contract Logistics facilities are now operational and our new Brisbane distribution facility is progressing on time and on budget. These investments are a key part of our strategy to provide the most efficient warehousing and distribution facilities for our expanding portfolio of businesses.”