AFT Pharmaceuticals Limited Analysis

Overview

AFT is a growing multinational pharmaceutical company that develops, markets and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over-the-counter, prescription and hospital. AFT's product portfolio comprises both proprietary and in-licensed products, and includes patented, branded and generic drugs.

Performance

The following information was extracted from AFT Pharmaceuticals Limited's half year results, released on 20 November 2025

FINANCIAL RESULTS FOR THE SIX MONTHS TO 30 SEPTEMBER 2025

AFT delivers 10th consecutive first half revenue increase

AFT Pharmaceuticals (NZX: AFT, ASX: AFP) today reports a strong first-half performance for the six months to 30 September 2025, with revenue growing 33% over 1H 25 to reach a record $114.9 million as its investments for growth deliver.

Growth — the 10th consecutive period of first half-year revenue increasing against the same period of the prior year since listing on the NZX — was led by Australia and was supported by the strong performance of Asian and International markets, which have now fully recovered from the one-off disruptions in 1H 25.

AFT continues to make good progress advancing the development of our International business hubs in markets that share similar characteristics with its highly successful Australasian operations. It has also advanced the company’s research and development (R&D) portfolio, and its active out and in-licensing programs which continue to position the company for long term growth.

AFT remains focused on delivering against its target of $300 million revenue for the FY 27 financial year, while balancing disciplined investment to support long-term value creation.

HIGHLIGHTS

• Half-year operating revenue rises 33% to $114.9 million1, reflecting strong growth in Australia, the benefits of a recovery from the one-off disruptions of 1H 25 and strong growth in Asia and International markets

• EBITDA2 of $6.6 million and operating profit of $4.7 million up from prior period losses amid ongoing investment in International business hubs and R&D. Net profit after tax of $2.7 million

• Balance sheet remains strong with net debt of $20.9 million3 within target range

• Licensing: multiple out-licensing agreements executed in the period; pipeline of further agreements and term sheets progressing, including the licensing of our novel IV iron formulation in China

• R&D: positive progress across late-stage assets, including the IV iron programme, antibiotic eyedrop and topical strawberry birthmark candidates