CSL Limited (ASX:CSL), a global biotechnology leader that researches, develops, manufactures, and markets a range of plasma-derived therapies and vaccines, today announced its results for the six months ended 31 December 2025. Underlying NPATA was US$1.9 billion, a decrease of 7%. Reported net profit after tax (NPAT) was US$401 million, down 81% on a constant currency basis, impacted by restructuring costs and impairments. Cash flow from operations remained strong at $1.3 billion. The company has maintained its interim dividend at US$1.30.
Chief Financial Officer Ken Lim acknowledged dissatisfaction with the half-year performance, citing government policy changes, one-off restructuring costs, and impairments as contributing factors. However, he expressed confidence in an ambitious second-half growth plan, driven by immunoglobulin (Ig), albumin, and newly launched products. He also noted substantial advancement in the company’s broader transformation strategy and investment in growth opportunities such as the collaboration with VarmX.
Reflecting a strong balance sheet and cash flow, CSL has expanded its share buy-back program from US$500 million to US$750 million. The company has already achieved approximately 60% of its targeted cost savings for the 2026 financial year. CSL reported after-tax non-restructuring related impairments of approximately $1.1 billion, largely related to CSL Vifor and CSL Seqirus intangible assets, with a smaller portion related to property, plant, and equipment.
CSL reaffirmed its financial year 2026 guidance, anticipating approximately 2-3% revenue growth and 4-7% NPATA growth, excluding one-off restructuring costs and impairments, at constant currency. Second-half growth for CSL Behring is expected to be fueled by Ig, albumin, and new product introductions. CSL Seqirus anticipates a lower second-half result due to the seasonality of the influenza business. The company remains focused on its transformation program to deliver future growth.
