CSL (CSL) AGM 2026 summary

AGM proceedings

• Hybrid AGM opened with a quorum; formal business covered FY26 reports, director elections and the remuneration report, followed by shareholder questions; resolutions were decided by poll.

Financial performance review

• FY26 revenue was US$15.8bn; underlying NPAT was US$2.8bn and underlying NPATA was US$3.1bn. Reported statutory net loss was US$2.6bn.

• The reported loss included US$0.8bn in pre-tax restructuring costs and US$7.1bn in impairment and related costs; operating cash flow was US$3.5bn.

• Net debt to EBITDA was 1.8x, within the target range; FY26 cost savings were US$176m, and a US$1bn buyback was completed.

• FY27 guidance was reaffirmed: revenue in line with FY26 and underlying NPAT growth of ~5%, both at constant currency.

• Behring returned to strong growth and Seqirus gained market share, while Vifor faced generic competition and expected iron-therapy revenue declines.

Board and executive committee updates

• Deborah Waterhouse was appointed CEO and Managing Director from 1 February, succeeding Interim CEO Gordon Naylor; she joined from ViiV Healthcare, where she had been CEO for a decade.

• Brian McNamee planned to retire as Chair and director on 31 March next year; the Board selected Gordon Naylor as Chair-elect to support a smooth transition.

• Carolyn Hewson sought re-election and planned to support the CEO and Chair transitions over the next 12–18 months as Senior Independent Director, then retire from the Board.

• Gordon Naylor and Costa Saroukos stood for election; Naylor had 33 years of experience and Saroukos more than 25 years in global pharmaceuticals, including as Takeda CFO.