CSL has reported an underlying profit of $US1.9 billion ($2.68 billion) for the half-year ending December 31, a decrease of 7 per cent. Reported profit experienced a steeper decline, falling 81 per cent to $US401 million, impacted by one-off restructuring costs and impairments. Revenue also saw a slight dip, decreasing by 4 per cent to $US8.3 billion. Cash flow from operations reached $US1.3 billion, and the company announced an interim dividend of $US1.30. CSL is a global biotechnology company that researches, develops, manufactures, and markets a range of plasma products, recombinant proteins, and vaccines. Its therapies are used to treat a variety of conditions, including immunodeficiency disorders, bleeding disorders, and respiratory diseases.
The biotech firm attributed the performance dip to policy changes, restructuring expenses, and asset impairments. These included approximately $US1.1 billion after tax in non-restructuring write-downs, largely related to CSL Vifor and CSL Seqirus assets. Management stated dissatisfaction with the results and have implemented initiatives to bolster growth in the future.
Chief Financial Officer Ken Lim acknowledged the adverse impact of government policy changes, one-off restructuring costs, and impairments on the first-half results. The company has an ambitious growth plan for the second half, focusing on immunoglobulin (Ig), albumin, and newly launched products.
Despite the challenges, CSL reaffirmed its FY26 guidance, projecting revenue growth of approximately 2 to 3 per cent and net profit growth of 4 to 7 per cent, excluding one-off items. The company anticipates a stronger second half, driven by immunoglobulin, albumin, and new product offerings.
