Aft Pharmaceuticals Ltd. · NZX:AFT
Aft Pharmaceuticals — Q2 2026 Earnings Presentation
23 slides from Aft Pharmaceuticals's earnings presentation, Nov 19, 2025
Slide 1: Investor Presentation 1H 2026
INVESTOR PRESENTATION 1H 2026 | 20 NOVEMBER 2025 Dr Hartley Atkinson Managing Director Malcolm Tubby Chief Financial Officer
Slide 2: Important Notice
Important Notice This presentation has been prepared by AFT Pharmaceuticals Limited (“AFT”), to provide a general overview of the performance of AFT. It is not prepared for any other purpose and must not be provided to any person other than the intended recipient. This presentation should be read in
Slide 3: Building the Foundation for the Next Phase of Growth
Building the Foundation for the Next Phase of Growth Fortifying AFT’s Global Network to Address Un-met Need CONTINUED STRENGTH IN EXPANDING GLOBAL FOOTPRINT ESTABLISHED ANZ BUSINESS • Europe: UK & EU • 1H 26 Total Sales $114.9M • North America: USA & Canada • ANZ Sales $94.5m, up 23% on 1H 25 • Asia
Slide 4: Growth Continues - 10th Consecutive First Half Revenue Increase
Growth Continues -10th Consecutive First Half Revenue Increase KEY HIGHLIGHTS • 1H 26 revenue increased, with growth led by Australia and supported by of Asian and International markets, which have now fully recovered from the one-off disruptions in 1H 25 • We have advanced the development of our In
Slide 5: Australia: Ongoing Market Growth from Product and Sales Investments
Australia: Ongoing Market Growth from Product and Sales Investments • Revenues in Australia grew 31% to $66.5m from $50.8m in FY 24, lifted by strong growth across all channels • Growth was led by eyecare, pain relief, and iron supplements and the company’s broad portfolio of injectables • Australia
Slide 6: New Zealand: Steady Growth with Ongoing Opportunities
New Zealand: Steady Growth with Ongoing Opportunities • Revenues in New Zealand grew 8% to $28.0m, up from $26.0m in 1H 25, led by allergy, dermatology, and eyecare • Growth slower than other markets, but still offers considerable growth opportunities • Operating profit improved to $4.1m, up from $3
Slide 7: Asia: Strong Growth and Broadening Asia Coverage
Asia: Strong Growth and Broadening Asia Coverage • Revenues in Asia increased to $7.5m, up 69% from $4.4m after recovery in Maxigesic IV following the Korean doctors’ strike; seeing growing sales in other markets • Focusing on broadening our reach in Asian markets to build sales across the region •
Slide 8: AFT's Global Reach
AFT’s Global Reach Our medicines are now available in 85 countries around the world AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 8
Slide 9: International Expansion – Investing for Long Term Growth in New Markets
International Expansion – Investing for Long Term Growth in New Markets INTERNATIONAL REVENUE COUNTRIES WHERE MAXIGESIC IS SOLD AND ORDERED $30.0 $27.8 90 85 80 $25.0 80 73 $8.5 70 61 $20.0 60 $16.0 COUNTRIES $0.7 NZ$M $15.0 $13.1 50 46 $12.9 43 $11.7 $9.9 $0.9 $1.9 40 $10.0 $6.7 $19.3 $10.0 $2.1 28
Slide 10: Progressing Expansion of AFT's Global Footprint
Progressing Expansion of AFT’s Global Footprint Expanding markets for our proprietary IP and in-licensed new products AFT PHARM UK • Combogesic tablets extended to >2500 stores (Boots, SuperDrug and independent pharmacies) • Combogesic IV NHS formulary listings build momentum • Expanding our product
Slide 11: Progressing Expansion of AFT's Global Footprint
Progressing Expansion of AFT’s Global Footprint Expanding markets for our proprietary IP and in-licensed new products AFT PHARM USA • Selected OTC launches such as Collagen Liposachets and coordinate licensees and distributors • Working closely with Hikma to realise the patient care benefits that co
Slide 12: Progressing Research and Development Investments
Progressing Research and Development Investments Several programs have exited development and are moving to revenue generation; our R&D programme is also attracting interest COMMERCIALISING AFT’S INTELLECTUAL PROPERTY A significant number of licensing agreement discussions underway RESEARCH AND DEVE
Slide 13: A Strong Research and Development Pipeline
A Strong Research and Development Pipeline AFT’s positive cashflows have positioned the company well to undertake and secure research and development projects either alone or in partnership with others. PROJECT PATENTS PARTNERS FILING PROGRESS/ MARKET /COMMENT 24 Hospital Injectables Nil Sinoject -
Slide 14: Gross Margin gains and investment in development
Gross Margin gains and investment in development 2025 Revenue 2024 Revenue ∆% Six months to 30 September % $000 % $000 • Revenue increased 33% lifted by a recovery Revenue 114,942 86,713 33% from the disruptions of 1H 25 and continued strong growth led by the Australian business Gross profit 49,690
Slide 15: AFT is Well Funded – Well Positioned to Fund Growth Investments
AFT is Well Funded – Well Positioned to Fund Growth Investments 2025 2024 FY 25 • Inventory of $58m managed prudently against Six months to 30 September ∆% $000 $000 $000 the normalisation in trading conditions and Current assets (excluding cash) 94,882 76,090 anticipated launches in 2H 26 97,232 Ca
Slide 16: Growth Investment Underpinned by Ongoing Strong Cashflow
Growth Investment Underpinned by Ongoing Strong Cashflow 2025 2024 Six months to 30 September $000 $000 • Continued investment into research and Net cash from operating activities 476 4,353 development projects to fuel long term growth Net cash used in investing activities (3,495) (3,939) • End peri
Slide 17: Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings
Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings • Consistent with prior years, we expect second half sales and earnings to be greater than the first half of FY26 supported by a strong programme of launches, continued expansion in the Australasian portfolio, and increasing con
Slide 18: Appendix
APPENDIX y
Slide 19: Appendix 1: History of AFT Pharmaceuticals
Appendix 1: History of AFT Pharmaceuticals AFT was founded over 25 years ago by Dr Hartley and Marree Atkinson. Since then, AFT has remained an Atkinson-family controlled business and has grown organically into Australia and internationally The 2015 IPO raised funds to pursue a more aggressive (and
Slide 20: Appendix 2: Australasian Product Portfolio
Appendix 2: Australasian Product Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief. AFT’s portfolio includes a combination of over 150 proprietary, branded and generic products which address the following therapeutic areas: Pain Maxigesic, ParaOsteo,
Slide 21: Appendix 3: AFT Global Product Portfolio
Appendix 3: AFT Global Product Portfolio AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors. It continues the development of its portfolio of repurposed medicines: Maxigesic1, Pascomer, NasoSURF, and Crystaderm Pain Maxigesi
Slide 22: Appendix 4: Reconciliation of EBITDA to GAAP
Appendix 4: Reconciliation of EBITDA to GAAP AFTs standard profit measure prepared under New Zealand GAAP is net profit after tax. AFT has used the non-GAAP profit measure of EBITDA when discussing financial performance in this document. AFT directors and management believe that this measure provide
Slide 23: For More Information
FOR MORE INFORMATION Dr Hartley Atkinson Managing Director Email: hartley.atkinson@aftpharm.com Malcolm Tubby Chief Financial Officer Email: malcolm.tubby@aftpharm.com AFT Pharmaceuticals Limited Level 1, 129 Hurstmere Road Takapuna, Auckland 0622 New Zealand www.aftpharm.com