Fisher & Paykel Healthcare (FPH) Trading update summary

Trading environment and performance

• Strong start to the year across all products and regions, with positive impacts from changes in clinical practice and new product launches.

• High hospital census observed in both hemispheres, aided by persistent seasonal hospitalisations and normalized hospital operations.

• Gross margin improvement initiatives are progressing, focusing on efficiency and continuous improvement.

Financial guidance for H1 FY2025

• Revenue expected between $940 million and $950 million; net profit after tax between $150 million and $160 million.

• At midpoints, this represents 18% growth in operating revenue and 44% growth in net profit after tax versus H1 FY2024.

Full year FY2025 outlook

• Full year revenue guidance maintained at $1.9 billion to $2.0 billion.

• Full year net profit after tax guidance increased to $320 million to $370 million.

• Hospital product group expected to maintain strong contributions from clinical practice changes and new products.

• Homecare product group supported by strong performance of new masks, expected to drive growth in H2.