Sigma Healthcare (SIG) H2 2026 earnings summary

Executive summary

• Revenue grew 15.5% year-over-year to AUD 10.8 billion, with Normalised EBIT up 20.6% to nearly AUD 1.1 billion and NPAT up 22.3% to AUD 732.3 million.

• The business operates nearly 1,000 pharmacies globally, with strong growth in both domestic and international markets and significant store openings.

• Strategic execution across four pillars—domestic growth, international expansion, product differentiation, and operating leverage—continues to drive results.

• Merger integration delivered AUD 32.6 million in synergies in FY26, on track for AUD 100 million per annum by FY29.

Financial highlights

• Group revenue increased 15.5% to AUD 10.8 billion year-over-year; Normalised EBIT rose 20.6% to AUD 1.1 billion, with EBIT margin up 43 bps to 10.1%.

• Net profit after tax grew 22.3% to AUD 732.3 million; Normalised EPS up 21.5% to 6.4 cents.

• Final dividend of AUD 0.02 per share, total FY26 dividend AUD 0.04 per share (63% payout ratio); fully franked.

• Free cash flow was AUD 500.4 million; net debt reduced to AUD 663 million, with net debt to Normalised EBITDA at 0.57x.

• Gross margin stable at 18.1% group-wide; Australia gross margin at 17.6%, International at 30.6%.

Outlook and guidance

• Positive sales momentum expected to continue in FY27, with double-digit like-for-like sales growth in Chemist Warehouse stores.

• Plans to open 13 Chemist Warehouse and 42 Amcal/DDS stores domestically, and 19 international stores in 1H FY27, including UK entry.

• Ongoing investment in own/exclusive label products and cost efficiencies to support margins.

• AUD 100 million annual synergy target remains on track for FY29.