Fisher & Paykel Healthcare (FPH) AGM 2025 summary

Opening remarks and agenda

• Chair welcomed shareholders in person and online, outlined voting and Q&A procedures, and introduced the Board and CEO.

• Meeting included addresses from the Chair and CEO, review of financial statements, resolutions, voting, and a general Q&A session.

• Agenda included Chair's address, CEO's performance update, financial statement Q&A, and voting on resolutions.

Financial performance review

• Operating revenue surpassed NZD 2.02 billion for the first time, a 14% increase in constant currency, with a 10-year CAGR of 11.6%.

• Net profit after tax reached NZD 377.2 million, up 43% from the previous year, with a 10-year CAGR of 12.8%.

• Gross margin improved to 62.9%, moving closer to the 65% target.

• Hospital business revenue was NZD 1.28 billion (up 16%), and home care revenue was NZD 739.9 million (up 11%).

• Revenue has grown steadily since 2001, now serving 22 million patients.

Dividend announcements

• Dividends for the year totaled NZD 0.425 per share, a 2% increase, with a payout ratio of 66%.

• Long-term dividend payout ratio target remains around 65%.

• No immediate plans to reactivate the dividend reinvestment plan.