Mayne Pharma Group Limited (ASX:MYX) AGM Business Update
AGM Presentation Highlights
Mayne Pharma Group Limited (ASX:MYX) delivered a business update during its Annual General Meeting, revealing a significant operational transformation and positive financial performance. The company reported a revenue increase of 112% to $388 million and an underlying EBITDA of $22.9 million, a turnaround from a loss of $95.3 million in the previous year.
Financial Performance
Mayne Pharma achieved a gross margin increase to 56.3% from 45.5%. The company recorded a 50% improvement in operating cash flow, enhancing cash and marketable securities to $149.3 million. The overall financial outlook for FY25 anticipates continued growth in underlying EBITDA and free cash flow across its strategic segments, including Women’s Health and Dermatology.
Strategic Focus for FY25
The company’s strategic focus will emphasise Women’s Health and Dermatology growth. CEO and Managing Director Shawn Patrick O’Brien stated, “We are enthusiastic about the prospects of our Women’s Health portfolio while focusing on innovative marketing strategies and enriching product knowledge.” The company aims to leverage advancements in its operational strategies to meet increasing demand.
Future Outlook
Mayne Pharma is positioned to benefit from the outcomes of its modernisation projects and new product launches, including the launch of KAPANOL® 200mg. The company also expects substantial revenue contributions from its core products in both the domestic and international markets.
With a strong foundation and an operating cash flow turnaround, Mayne Pharma sets its sights on growth, making positive strides as it navigates the evolving pharmaceutical landscape.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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