Fisher & Paykel Healthcare Corporation Limited Analysis

Overview

Fisher & Paykel Healthcare is a global leader in medical devices and systems for use in respiratory care and acute care, and in the treatment of obstructive sleep apnea. The company has a consistent growth strategy to provide an expanding range of innovative medical devices which can help to improve care and outcomes for patients in an increasing range of applications.

Its products are sold to hospitals and healthcare facilities around the world through direct sales offices operations and a network of distributors that sell to hospitals, homecare providers and other manufacturers of medical devices.

Formerly Fisher & Paykel Industries, Fisher & Paykel Healthcare arose from the separation of the major trading businesses of Fisher & Paykel Industries into Appliances and Healthcare in November 2001. The company's securities are listed in both New Zealand and Australia.

Performance

The following information was extracted from Fisher & Paykel Healthcare Corporation Limited's full year results, released 28 May 2025:

Record full-year revenue result for Fisher & Paykel Healthcare

Auckland, New Zealand, 28 May 2025 – Fisher & Paykel Healthcare Corporation Limited today announced its results for the full year ended 31 March 2025.

Managing Director and Chief Executive Officer Lewis Gradon said, “During the 2025 financial year, we stayed focused on the fundamentals of our business and we achieved strong results, with annual revenue of more than $2 billion for the first time in our history.”

Total operating revenue was a record $2.02 billion, an increase of 16% from the prior financial year, or 14% in constant currency. This was driven by broad-based growth in hospital consumables and double-digit growth in masks for treating obstructive sleep apnea.

Net profit after tax for the financial year was $377.2 million, a 43% increase over the 2024 financial year, or 30% in constant currency. These growth rates are against underlying net profit after tax for the 2024 financial year, which excluded three abnormal items.

Overview of key results for the 2025 financial year

• 16% growth in operating revenue to $2.02 billion, 14% growth in constant currency.
• 43% growth in underlying net profit after tax to $377.2 million, 30% growth in constant currency.
• 18% growth in Hospital operating revenue to $1.28 billion, 16% growth in constant currency.

20% revenue growth for new applications consumables, 18% growth in constant currency.

• 13% growth in Homecare operating revenue to $739.9 million, 11% growth in constant currency.
• 14% growth in OSA masks revenue, or 11% growth in constant currency.
• Investment in R&D was 11% of revenue, or $226.9 million.
• 2% increase in final dividend to 24.0 cps (2024: 23.5 cps).
• 2% increase in total dividends for the financial year to 42.5 cps (2024: 41.5 cps).