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AFT Pharmaceuticals (NZX: AFT)

Last close As at 21/11/2024

NZD2.54

▲ 0.14 (5.83%)

Market capitalisation

NZD267m

AFT Pharmaceuticals is a specialty pharmaceutical company that operates primarily in Australasia but has product distribution agreements across the globe. The company’s product portfolio includes prescription and over-the-counter (OTC) drugs to treat a range of conditions and a proprietary nebuliser.

AFT Pharmaceuticals is a multi-product company targeting pharmacy prescription, OTC and hospital markets. Data for Maxigesic offer it a competitive advantage in a fragmented industry.

Latest Insights

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Healthcare | Flash note

AFT Pharmaceuticals — H125 profitability weighed down by one-offs

Healthcare | Flash note

AFT Pharmaceuticals — Maxigesic IV reaches the Chinese shores

Healthcare | edison tv

AFT Pharmaceuticals – executive interview

Healthcare | Flash note

AFT Pharmaceuticals — Hikma partnership expands to include Combogesic
AFT-Pharmaceuticals_resized
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Sector

Healthcare

Equity Analyst

Arron Aatkar

Analyst

Jyoti Prakash

Jyoti Prakash

Analyst, Healthcare

Key Management

  • David Flacks

    Chairman

  • Dr Hartley Atkinson

    CEO

  • Malcolm Tubby

    Chief Financial Officer

  • Michael Weinmann

    Member of the Board of Directors

  • Nathan D. Hukill

    Member of the Board of Directors

Balance Sheet

Forecast net debt (NZ$m)

7.6

Forecast gearing ratio (%)

7

Share Price Performance

Price Performance
% 1M 3M 12M
Actual (21.4) (19.6) (22.1)
Relative (20.8) (19.7) (29.3)
52 week high/low 3.8/2.4

Financials

AFT Pharmaceuticals is a profitable New Zealand-based specialty pharmaceutical company that sells over 150 proprietary branded and generic products through its own salesforce in New Zealand and Australia, with offices across the globe to handle its growing export business. AFT reported strong FY24 results, with 24.8% y-o-y top-line growth, and targets an FY25 operating profit of NZ$22–25m, excluding any potential licensing income. It launched Maxigesic IV in the US in February 2024, and continues to focus on portfolio expansion and geographical diversification, including signing an exclusive licence agreement in China in September 2024. It recently announced a new R&D candidate for keloid and hypertrophic scarring, manufacturing agreements for Maxigesic Rapid and Crystaderm, partnership expansion with Hikma (to expand in the Middle East), entry into the UK and a licensing deal for Maxigesic IV in Brazil.

Y/E Mar Revenue (NZ$m) EBITDA (NZ$m) PBT (NZ$m) EPS (c) P/E (x) P/CF (x)
2023A 156.6 21.4 16.7 11.0 23.1 25.0
2024A 195.4 26.2 23.0 15.8 16.1 17.1
2025E 232.4 26.6 23.6 16.5 15.4 16.4
2026E 278.3 43.4 40.8 28.3 9.0 9.3

Research

Flash note

Healthcare

AFT Pharmaceuticals — Maxigesic IV reaches the Chinese shores

edison tv

Healthcare

AFT Pharmaceuticals – executive interview

Healthcare

Flash note

AFT Pharmaceuticals — H125 profitability weighed down by one-offs
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