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Highlights
- Ansell Limited published details to run its buyback programme for the next 12 months.
- Ansell’s shares were trading in the red as of 10:54 AM AEDT, 12 December.
Shares of medical equipment manufacturer Ansell Limited (ASX:ANN) were spotted trading in the red territory this morning (12 December 2022). The company published its on-market share buyback programme details for the coming 12 months on 9 December 2022.
One share of Ansell Limited was valued at AU$28.245 with a loss of 0.088% at 10:54 AM AEDT. With today’s decline, the Australian healthcare equipment company’s shares have increased in value by 1.92% in the past month, alongside gaining 22.25% in the last six months and 0.28% in the previous five trading sessions. However, Ansell’s shares have dropped 14.21% on a year-to-date (YTD) basis and 10.42% in a year around the same time.
A glance at Ansell’s buyback programme
As per the company’s ASX announcement, Ansell has been running its current on-market share buyback programme since May 2017. To inherit flexibility in its capital management strategies, the company plans to continue the programme.
Ansell also disclosed to the market its intention to repurchase shares only when it makes sense and always within the corporations act's 10% cap. Moreover, Ansell provided all the required details for running the buyback programme over the following 12 months.
What else has been happening at Ansell?
Ansell announced its full-year FY22 results during the annual general meeting (AGM) 2022 held last month on 10 November. Below are the highlights from Ansell’s FY22 results:
- During FY22, Ansell witnessed a 3.7% decline in sales from FY21, down from US$2,026.9 million to US$1.952.1 million.
- Even though Ansell’s sales dropped in FY22 but were still at pre-COVID levels.
- The company’s earnings per share (EPS) was impacted by demand normalisation post COVID.
- Adjusted EPS was down from 192.2 cents in FY21 to 138.6 cents in FY22, and statutory EPS dropped from 192.2 cents in FY21 to 125.2 cents in FY22.
- Ansell’s GPADE (Gross Profit After Distribution Expenses) decreased from US$723.6 million in FY21 to US$564.2 million in FY22.
- GPADE margin, on the other hand, was 680bps down in FY22, from 35.7% in FY21 to 28.9%. This decline resulted of expensive Exam/SU outsourced products being sold at less-than-desirable costs.
- The company’s EBIT saw a 27.5% decrease during FY22, down from US$338 million to US$245.1 million.
- Amidst all the declines, Ansell’s cash conversion saw a significant increase of 29.2% during FY22, up from 60.9% in FY21 to 90% in FY22.
Commenting on Ansell’s FY22 results, Neil Salmon, the company CEO, said:
Image Source: © 2022 Kalkine Media ®
Data Source- Company announcement dated 10 November 2022
