Sigma Healthcare Limited (ASX: SIG) has reported a strong financial performance for the full year ended 31 January 2025, marking its final standalone results before merging with Chemist Warehouse Group (CWG) on 12 February 2025.
FY25 Financial Performance: Scaling Up for the Future
Sigma’s normalised revenue surged 50.9% to $4.8 billion, while normalised EBIT more than doubled, increasing 183.5% to $68 million. However, statutory EBIT came in at $21.7 million, impacted by $43.5 million in merger-related costs and $2.8 million in onboarding expenses for the new CWG supply contract.
The statutory net profit after tax (NPAT) was impacted by a $13.8 million loss, largely due to an $8.2 million non-cash deferred tax asset write-off resulting from the merger.
Despite these one-off costs, CEO Vikesh Ramsunder emphasized the company’s strong operational execution, stating:
“Over the last three years, we have executed our strategy to build scale, drive efficiencies, and enhance our margins. These final standalone results showcase the strong underlying performance of our business as we enter this new era with Chemist Warehouse.”
Key Operational Wins in FY25
- Successfully onboarded the Chemist Warehouse supply contract on 1 July 2024, efficiently absorbing a 40% increase in volume while maintaining world-class operational performance.
- Secured a new five-year wholesale industry agreement through the National Pharmaceutical Services Association (NPSA), providing increased funding to support the long-term distribution of medicines across Australia.
- Achieved 8.5% like-for-like wholesale sales growth across the Amcal and Discount Drug Stores brands.
- Successfully obtained shareholder approval for the Chemist Warehouse merger, positioning the new entity as a leading ASX-listed healthcare company.
The Road Ahead
With the Chemist Warehouse merger now in effect, Sigma enters a new phase as a scaled-up industry leader, leveraging its expanded network, operational efficiencies, and strategic partnerships.
