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Highlights
- Probiotec manufactures, packs and distributes a range of prescription and over the counter (OTC) pharmaceuticals, and related products
- In FY23, the company registered earnings and sales growth
- The company expects to register revenue of AUD 110 – 115 million in 1HFY24
Probiotec Limited (ASX:PBP) offers contract manufacturing and packaging services to the pharmaceutical and related sectors. The company packs and manufactures vast range of prescription and over the counter pharmaceuticals and has global presence.
In the financial year 2023 (Y23), the company recorded growth in terms of earnings and sales. During the stated period, revenue increased by 17.4% YoY to AUD 214 million and EBITDA increased by 7.6% YoY to AUD 35.3 million. The revenue was driven by the pharmaceutical manufacturing services.
Top 10 shareholders of PBP
Top 10 shareholders of PBP have around 50.27% shareholding in the company and the top four have around 27.48% shareholding. Inston Pty Ltd. and Paradice Investment Management Pty. Ltd. Hold maximum stake in the firm, with a shareholding of ~7.85% and ~7.13%, respectively.
Recent business update
Through an ASX update dated 15 November 2023, the company shared that it is focused on progressing organic growth opportunities, maximizing opportunities from onshoring, site consolidation and operational cost-out. Moreover, the company is looking for acquisition and strategic investment opportunities.
Outlook
In the first half of FY24, the company expects to deliver revenue in the range of AUD 110 – 115 million and underlying EBITDA in the range of AUD 16.5 – 17.5 million.
The company informed that it is committed to advance its NSW site consolidation project, which is expected to offer material savings of AUD 3-5 million every year.
Share performance of PBP
PBP shares closed flat at AUD 2.25 apiece on 13 December 2023. In the last 12 months, the share price of PBP has declined by 14.45% in the last six months and has dropped by 8.16% in the last one month.
The 52-week high of PBP is AUD 2.91, recorded on 15 May 2023, while the 52-week low is AUD 2.135, recorded on 11 December 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 13 December 2023. The reference data in this report has been partly sourced from EODHD/Others.
Disclaimer
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