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Adcock Ingram Holdings Limited (AIP) investor relations material
Adcock Ingram Holdings Limited H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Turnover increased by 1% to R9.8 billion for the year ended 30 June 2025, with a marked improvement in the second half driven by strong demand and disciplined cost management.
Trading profit declined 4% to R1.18 billion, a significant recovery from a 17% decline at half-year, supported by improved operational performance and cost control.
Headline earnings per share (HEPS) rose 1.5% to 625.6 cents, aided by strong joint venture contributions and a share repurchase.
Profit for the year rose 5% to R859 million compared to the prior year.
Dividend per share increased 2% to 280 cents.
Financial highlights
Revenue reached R9.8 billion, up R117 million year-over-year.
Gross profit was R3.2 billion, with gross margin stable at 33% due to sales mix and lower factory recoveries.
Operating profit increased 1.1% to R1.1 billion; equity-accounted earnings from JVs rose 21% to R173 million.
Net finance costs were R110 million, reflecting higher net debt after share repurchase and acquisitions.
Inventory days at 144; receivables days steady at 54; 94% of receivables within 60 days.
Outlook and guidance
Operational streamlining at Wadeville and infrastructure investment at Aeroton are expected to improve future recoveries and output stability.
New product launches and commercial agreements, including with GSK and Medline, are set to strengthen the portfolio.
Delisting and transition to private ownership expected in late 2025, pending regulatory and shareholder approval.
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