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Paragon Care (PGC) investor relations material
Paragon Care H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the half-year reached $1.9 billion, up 2.9–3% year-over-year, with normalized growth at 10.5% driven by ANZ Contract Logistics, Wholesale, and Asia.
Underlying EBITDA was $49.0 million, up 3.1%, while statutory EBITDA was negative $0.4 million due to a full provision for Infinity Group debt.
Underlying NPAT was $13.3 million, but a statutory net loss after tax of $21.3 million was recorded, reflecting the Infinity Group provision.
Recent acquisitions, including Somnotec Group and AHP Dental & Medical, contributed positively, with further acquisitions post-period expected to enhance future results.
Strategic focus remains on integration completion, operational efficiency, and continued expansion in Asia and contract logistics.
Financial highlights
Underlying EBITDA margin held steady at 2.57%, with solid margin maintenance despite integration and M&A costs.
Net debt increased to $287.5 million, up 26.9% from June 2025, mainly due to acquisition financing and seasonal working capital needs.
Net Debt/EBITDA (proforma) rose to 2.81x, targeted to reduce to approximately 2x by June, excluding Infinity recovery.
Cash flow from operations improved year-over-year, with cash at period end of $30.9 million, up 42.5% from the prior year.
Organic revenue growth was $114 million, with a 7.1% net organic growth rate after adjusting for Infinity and acquisitions.
Outlook and guidance
Full-year revenue guidance reaffirmed at $3.6–$3.7 billion, with underlying EBITDA expected between $97–$107 million.
Net debt/underlying EBITDA targeted at around 2x by year-end, with no assumptions for Infinity debt recovery included.
Integration of acquisitions and completion of the 3-2-1 strategy by June are key priorities.
No interim dividend declared; dividend policy to be reviewed at year-end.
Strategic focus on expanding presence in Asia and leveraging new contract wins such as the Australian Defence Force contract.
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