CSL (ASX: CSL) intends to unlock value and growth in Vifor, Behring business

Highlights

• CSL is a biotechnology firm which develops and distributes biopharmaceutical products and vaccines
• In FY23, the company recorded 26% YoY rise in revenue to USD 13,310 million
• Today, CSL shares closed 1.65% up at AUD 267.47 apiece

CSL Limited (ASX:CSL) is an ASX listed biotech firm which deals in pharmaceutical and diagnostic products, cell culture media and human plasma fractions in more than 100 countries.

In the financial year 2023 (FY23), the company registered 26% YoY increase in revenue to USD 13,310 million, while NPAT decreased by 3% YoY to USD 2,194 million.

The reported period witnessed growth, well advanced integration of CSL Vifor and launch of gene therapy HEMGENIX. Furthermore, CSL Behring business delivered growth in immunoglobulin sales and record plasma collections.

Top 10 shareholders of CSL

The top 10 shareholders of CSL have around 17.32% shareholding in the company, while the top four have around 11.67% shareholding. The highest stakes are held by Vanguard Group, Inc. and State Street Global Advisors Australia Ltd., with a shareholding of ~4.99% and ~3.18%, respectively.

Recent business update

Through an ASX release dated 23 October 2023, the company informed that Megan Clark AC had acquired 210 shares, taking the total shareholding to 3,683 shares.

On 11 October 2023, the company released an update on its 2023 annual general meeting (AGM). In the AGM, CSL shared that it intends to unlock the value and growth within the CSL Vifor business and is focused on the CSL Behring business.

Outlook

In FY24, the company expects to deliver 9-11% YoY growth in revenue and 13-17% YoY growth in NPATA to USD 2.9 – 3.0 billion at constant currency.

CSL Behring business expects to see Ig growth, gene therapy HEMGENIX us and EU commercialization, among other initiatives. Meanwhile, CSL Seqirus business is committed on continued growth from influenza vaccine differentiation and global registrations from next-gen mRNA COVID vaccine.

The company informed that CSL has a cluster of R&D campaigns that are nearing completion.

Share performance of CSL

Shares of CSL closed 1.65% up at AUD 267.47 apiece on 6 December 2023. With this, CSL’s shares have witnessed a fall of 11.08% in the past one year and a rise of 7.76% in the last one month. The 52-week high of CSL is AUD 314.28, recorded on 3 February 2023, and the 52-week low is AUD 228.65, recorded on 30 October 2023.

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 06 December 2023. The reference data in this report has been partly sourced from EODHD/Others.

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