Mayne Pharma Group (MYX) AGM 2026 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of the hybrid format, procedural guidance, and was chaired by Professor Bruce Robinson at 10:00am Melbourne time.

• Board and executive introductions included recognition of outgoing directors, the company's auditor, and outlined the agenda: Chair's report, CFO's business update, Q&A, and voting on resolutions.

Financial performance review

• FY 2025 revenue grew 5% to AUD 408.1 million, gross margin expanded to 60.6%, and underlying EBITDA more than doubled to AUD 47 million.

• Operating cash flow from continuing operations improved to AUD 45.4 million, reflecting tighter cost control and a more profitable product mix, though cash and marketable securities declined to AUD 100.4 million.

• 1H FY 2026 unaudited revenue was AUD 212.1 million, with gross margin up to 66%; underlying EBITDA was AUD 28.6 million, down 8% due to increased investment.

• Women's Health segment revenue rose 25%, with NEXTSTELLIS showing strong demand; dermatology margins improved despite generic competition, and international segment growth driven by new launches and partnerships.

• Segment highlights: Women's Health revenue up 2%, Dermatology gross margin up 12%, International gross profit up 6%.

Board and executive committee updates

• Frank Condella retired as Chair in January 2026; Anne Lockwood and Pat Blake to retire after mid-year results.

• Board comprised of the Chair, several non-executive directors, CEO & Managing Director, and CFO, with introductions provided at the start.

• Board priorities remain focused on execution, earnings quality, disciplined capital allocation, and strategic initiatives.

• Ann Custin and David Petrie stood for re-election, highlighting their experience and commitment.