Paragon Care (PGC) investor relations material

Executive summary

• Revenue for the period reached $1.9 billion, up 2.9–3% year-over-year, with underlying EBITDA at $49.0 million, up 3.1%, and underlying NPAT at $13.3 million; statutory results were impacted by a full provision for Infinity Group debt, resulting in a statutory EBITDA loss of $0.4 million and a net loss after tax of $21.3 million.

• Normalised revenue growth was 10.5%, driven by strong performance in ANZ Contract Logistics, Wholesale, and Asia.

• Strategic acquisitions (Somnotec Group, AHP Dental & Medical) and investments expanded offerings, with further acquisitions post-period expected to enhance future results.

• The 3-2-1 integration strategy and operational improvements are progressing, with substantial transition and restructuring activities ongoing.

Financial highlights

• Underlying EBITDA margin held steady at 2.57% year-over-year, with solid margin maintenance despite integration and M&A costs.

• Net debt increased to $287.5 million, up 26.9% from June 2025, with Net Debt/EBITDA at 2.81x.

• Cash at period end was $30.9 million, up 42.5% from the prior year.

• Gross margin rose 6% to $173.9 million.

Outlook and guidance

• Full-year FY26 revenue guidance reaffirmed at $3.6–$3.7 billion, with underlying EBITDA expected between $97–$107 million.

• Net debt/underlying EBITDA targeted at approximately 2.0x by year-end, excluding further acquisitions.

• No interim dividend declared; dividend position to be reviewed at year-end.

• Strategic focus on completing integration, executing cost-outs, and expanding presence in Asia.