AUS
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UK
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IND
Highlights
- An infection prevention company, Nanosonics witnessed a 989% YoY rise in EBIT in FY23
- FY23 performance was driven by global expansion of Trophon business
- The company is focused on investing in R&D and Trophon’s emerging markets
ASX-listed health care company, Nanosonics Limited (ASX:NAN) is an infection prevention group, which is engaged in the manufacturing and construction of ultrasound disinfectors and related accessories and consumables. In addition, the company is also engaged in the R&D and commercialization of infection decontamination and control products and associated technologies.
Global expansion of Trophon business of NAN resulted in significant growth in profit and revenue in FY23 (financial year 2023). The period saw a 38% YoY rise in total revenue to AUD 166 million and a 989% rise in EBIT to AUD 19.6 million.
Top 10 shareholders of NAN
The top 10 shareholders of NAN have around 34.77% stake in the company, while the top four have around 22.88% shareholding. Yarra Funds Management Limited and Stang (Maurie) have the maximum interest in the company, with a shareholding of ~6.30% and ~6.27%, respectively.
Recent business update
Through an ASX update dated 3 October 2023, the company informed that Michael Kavanagh disposed 77,667 performance rights and 208,884 shares appreciation rights held in the Nanosonics omnibus Equity Plan.
Outlook
In FY24, the company expects to deliver revenue growth of 15-20% with a surge in growth in installed base and upgraded volumes. The expected range of gross profit margin is 75-77%.
The company is committed to investing in R&D, Trophon’s emerging markets, and implementing a new ERP system. Also, the company seeks merger and acquisition opportunities.
Share performance of NAN
NAN shares closed 0.48% higher at AUD 4.15 apiece on 8 November 2023. With this, NAN’s share price has dropped by 22.87% in the past three months and has recorded a rise of 7.51% in the last one week.
The 52-week high of NAN is AUD 5.8, recorded on 27 April 2023 and the 52-week low is AUD 3.605, 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 08 November 2023. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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