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Sigma Healthcare (SIG) investor relations material

Sigma Healthcare AGM 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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AGM 2025 summary22 Oct, 2025

Opening remarks and agenda

  • AGM marked the first since the merger with Chemist Warehouse, featuring a hybrid format and introduction of new directors and executives from both legacy companies.

  • Chairman and CEO addressed the meeting, outlining 14 resolutions including financial statements, remuneration reports, director reelections, auditor ratification, and potential spill resolutions.

Financial performance review

  • Revenue rose 82.3% to $6 billion, with normalized EBIT up 41.4% to $835 million and normalized NPAT up 40% to $579 million.

  • Pro forma EBIT for FY 2025 was $903.4 million, with strong cash generation and improved working capital management.

  • Chemist Warehouse network achieved over 11% like-for-like sales growth, with 35 new stores opened and total retail network sales rising 14% to $10.3 billion.

  • Distribution volumes increased 29% while costs per unit fell 11%.

  • Net debt reduced to $752 million, aided by strong cash generation and low capital investment.

Board and executive committee updates

  • Board composition reflects merger needs, with a mix of independent and non-independent directors and a focus on integration and growth.

  • Leadership team confirmed to drive strategic execution post-merger, with recent changes including Damien Gance stepping down from his executive role.

  • Governance practices enhanced, including the formation of a Related Party Independent Board Committee and a Risk Compliance and Sustainability Committee.

  • Reelection of Neville Mitchell and Annette Carey as directors, both bringing significant industry and governance experience.

Breakdown of the $100m synergy target?
What was GLP1 sales contribution to 1Q26?
Related Party IBC's oversight of transactions?
Rationale for upgraded $100M synergy target?
Board's plan for independence and diversity?
Effectiveness of related party governance?
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Frequently asked questions

Sigma Healthcare Limited is an Australian company that operates primarily within the pharmacy industry, with a focus on both the retail and wholesale distribution of pharmaceutical products. The company owns several Australian retail pharmacy brands, including Amcal, Discount Drug Stores, and Guardian Pharmacy, managing over 1,200 branded and independent pharmacies across the country. Through these outlets, Sigma Healthcare provides a wide range of healthcare services and products. The company is headquartered in Clayton, Victoria, and its shares are listed on the ASX.

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