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Audited Group financial results for the year ended 30 June 2025 and cash dividend declaration
Adcock Ingram Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 2007/016236/06)
Share code: AIP ISIN: ZAE000123436
("Adcock Ingram" or "the Company" or "the Group")
Audited Group financial results for the year ended 30 June 2025 and cash dividend declaration
Revenue +1%
Second half trading profit improved by 30% over first half
Second half HEPS improved by 36% over first half
Full-year HEPS increased 1% to 625.6 cents
Final dividend declared: 165 cents per share
Total dividend increased 2% to 280 cents per share
B-BBEE level 1
Strategic transaction with NATCO Pharma announced
Change Audited Audited
% 2025 2024
Revenue (R'000) 1 9 760 332 9 643 128
Gross profit (R'000) 3 219 980 3 218 532
Trading profit (R'000) (4) 1 183 868 1 229 496
Operating profit (R'000) 1 1 076 399 1 064 824
Headline earnings per share (cents) 1 625.6 616.6
Basic earnings per share (cents) 8 585.0 539.6
Total assets (R'000) 8 735 681 8 354 883
Net asset value per share (cents) 3 974.8 3 688.1
Interim dividend declared per share (cents) 115.0 125.0
Final dividend declared per share (cents) 165.0 150.0
Segment revenue
Consumer (R'000) 6 1 802 270 1 701 856
OTC (R'000) (1) 2 441 500 2 461 656
Prescription (R'000) (3) 3 328 625 3 429 809
Hospital (R'000) 7 2 186 784 2 049 292
Segment trading profit
Consumer (R'000) 6 384 939 362 398
OTC (R'000) 5 404 476 383 585
Prescription (R'000) (25) 265 023 351 913
Hospital (R'000) (2) 125 272 128 446
Introduction
The Board of Directors (the Board) is pleased with the Group's overall performance for the year, particularly following the subdued interim results.
The Group delivered an outstanding operational and financial improvement in the second half of the financial year, underpinned by strong demand
for its over-the-counter (OTC) and consumer healthcare products, supported by management's focus on customer service, brand investment,
operational planning and cost discipline.
Prospects
As published in the SENS announcement on 23 July 2025, Adcock Ingram has entered into a Transaction Implementation Agreement (TIA) with NATCO Pharma.
Subject to the fulfilment of regulatory and shareholder approvals, NATCO Pharma will acquire all the shares in the Group, not owned by Bidvest,
through a scheme of arrangement. Adcock Ingram will subsequently be delisted from the Johannesburg Stock Exchange and operate as a privately held
company, with Bidvest as the controlling shareholder. The transaction presents a meaningful opportunity to unlock shareholder value and long-term
strategic and operational benefits. NATCO Pharma, a global pharmaceutical company with a strong presence in developing and emerging markets,
brings complementary capabilities in generic product and dossier development, intellectual property, and raw material sourcing. These strengths
will enhance Adcock Ingram's competitiveness, product offering, and supply chain resilience.
Adcock Ingram will remain a South African-based business. The Group is well-positioned to pursue targeted growth opportunities, strengthen its position
in the local healthcare market, and deliver sustained value to stakeholders.
Dividend distribution
The Board has declared a final gross cash dividend out of income reserves of 165 cents per share in respect of the year ended 30 June 2025.
The South African dividend tax ("DT") rate is 20% and the net dividend payable to shareholders who are not exempt from DT is 132 cents per share.
Adcock Ingram currently has 161 300 000 ordinary shares in issue and qualifying for ordinary dividends.
The Company's income tax reference number is 9528/919/15/3.
The salient dates for the distribution are detailed below:
Last date to trade cum distribution Tuesday, 16 September 2025
Shares trade ex distribution Wednesday, 17 September 2025
Record date Friday, 19 September 2025
Payment date Monday, 22 September 2025
Share certificates may not be dematerialised or rematerialised between Wednesday, 17 September 2025 and Friday, 19 September 2025, both dates inclusive.
N Madisa AG Hall
Chairperson Chief Executive Officer
Approved by the Board: 21 August 2025
SENS release date: 22 August 2025
Company secretary: M Phalafala
Registered office 1 New Road, Midrand, 1682
Postal address Private Bag X69, Bryanston, 2021
Transfer secretaries Computershare Investor Services Proprietary Limited,
Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg, 2196.
Private Bag X9000, Saxonwold, 2132
Auditors PricewaterhouseCoopers Inc, 4 Lisbon Lane, Waterfall, 2090
Sponsor Rand Merchant Bank (a division of FirstRand Bank Limited),
1 Merchant Place, corner Fredman Drive and Rivonia Road, Sandton, 2196
Bankers Nedbank Limited, 135 Rivonia Road, Sandown, Sandton, 2146.
Rand Merchant Bank, 1 Merchant Place, corner Fredman Drive and Rivonia Road, Sandton, 2196.
Investec Bank Limited, 100 Grayston Drive, Sandton, 2146.
The Group's annual financial statements, which include the unqualified audit opinion of PricewaterhouseCoopers Inc, is available through the JSE's
cloudlink at https://senspdf.jse.co.za/documents/2025/JSE/ISSE/AIP/June2025.pdf
and on the Company's website at https://www.adcock.com/investors/results-reports, together with
the Group's summary financial statements. The investor presentation will also be available on the Company's website later in the day. Any investment
decision should be based on a consideration of the Group's annual financial statements, as the information in this results announcement does not
provide all of the details.
Date: 22-08-2025 07:05:00
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