Sigma Healthcare Ltd · ASX:SIG
Sigma Healthcare — FY2026 Earnings Presentation
26 slides from Sigma Healthcare's earnings presentation, Aug 27, 2026
Slide 1: FY26 Results presentation
FY26 Results presentation 27 August 2026 Sigma Healthcare Limited
Slide 2: Agenda
Agenda 1. Group highlights Vikesh Ramsunder – CEO and Managing Director 2. Financial performance Mark Conway – Chief Strategy and Business 3. Strategy and operational highlights Development Officer For more information contact: 4. Execution priorities and Outlook Gary Woodford Head of Corporate Affa
Slide 3: FY26 Financial Highlights – translating scale into earnings growth
FY26 Financial Highlights – translating scale into earnings growth • Revenue growth converted to faster earnings growth: Normalised EBIT increased 20.6% on revenue growth of Revenue1 EBIT1 NPAT1 15.5%, and EBIT margin expanding 43 bps to 10.1%. ($bn) ($m) ($m) • Four value-creation pillars continue
Slide 4: FY26 Operational Highlights – value creation pillars
FY26 Operational Highlights – value creation pillars Pillar 1 Pillar 2 Pillar 3 Pillar 4 Domestic International Product Differentiation Operating Leverage CW Branded Network Sales1 Store Sales1 Owned/Excl. Label Sales Delivering Benefits from Scale $10.2bn $1.6bn ~$1.0bn >579m units Up 15.9% Up 23.3
Slide 5: Mark Conway
Mark Conway Chief Strategy and Business Development Officer Sigma Healthcare Limited
Slide 6: Group financial performance – converting growth to quality earnings
Group financial performance – converting growth to quality earnings 1 Statutory Normalised FY25 • Revenue growth of 15.5% exceeded expense growth, $m FY26 FY26 Change % Pro-forma with multiple revenue drivers and disciplined expense Revenue 10,835.0 10,835.0 9,380.1 15.5% management. Gross profit 1,
Slide 7: Strong growth – an established and consistent outcome
Strong growth – an established and consistent outcome 1 Normalised Total Australia International FY25 Change FY25 Change FY25 Change $m FY26 FY26 FY26 PF % PF % PF % • Total group revenue grew 15.5% with Australia Revenue 10,835.0 9,380.1 15.5 10,413.6 9,063.2 14.9 421.4 316.9 33.0 contributing 92.8
Slide 8: Australian segment – core engine still compounding
Australian segment – core engine still compounding 1 Normalised Australia FY25 Change $m FY26 PF % • Australia continued its strong performance with many drivers supporting growth Revenue 10,413.6 9,063.2 14.9 underpinned by the increase in the retail store network, sales momentum, stronger CW Gross
Slide 9: International – meaningful growth to deliver scale benefits
International – meaningful growth to deliver scale benefits 1 Normalised International FY25 Change • Revenue growth exceeded expense growth, with multiple drivers: $m FY26 PF % o CW value proposition resonating with more consumers across more markets Revenue 421.4 316.9 33.0 Gross profit 128.9 87.4
Slide 10: Balance Sheet – strength and flexibility to fund growth
Balance Sheet – strength and flexibility to fund growth Statutory balance sheet ($m) $m FY26 FY25 Change % • Receivables increased 17.5% to $1.85bn, reflecting higher operating activity and strong revenue growth of 15.5% Cash and cash equivalents 131.1 138.8 (5.5) across the Group Trade and other re
Slide 11: Cash flow – funding our growth agenda
Cash flow – funding our growth agenda FY26 FY251 EBITDA 1,141.9 826.0 • Prior period comparison is not directly reflective of the Investment in working capital (376.6) (79.7) merged group, as FY25 includes 12 months of Chemist Net interest received / (paid) (47.7) (24.1) Income tax paid (114.2) (93.
Slide 12: Working capital management
Working capital management • Cash Conversion Cycle (CCC) increased from 46.9 days to 54.0 $’m FY26 FY25 days, driven by increased inventory levels Receivables 1,851.2 1,575.1 • Inventory levels were increased due to: Inventory 1,245.8 1,019.8 o own and exclusive label growth, including Wagner; Payab
Slide 13: Vikesh Ramsunder
Vikesh Ramsunder CEO and Managing Director Sigma Healthcare Limited
Slide 14: Four Pillars of Strategic Growth – the value creation engine
Four Pillars of Strategic Growth – the value creation engine Pillar 1 Pillar 2 Pillar 3 Pillar 4 Domestic International Product Differentiation Operating Leverage Drive profitable store growth in Expand our own and exclusive Deliver efficiencies and the Maintain market leadership label products syne
Slide 15: Pillar 1 Domestic Growth Continues
Pillar 1 Domestic Growth Continues Queensland Growth Opportunity – three brand strategy opens opportunities in under penetrated locations 103 Stores Northern Territory 31 Stores The leading discount pharmacy operator in Western Australia 9 stores 38 Stores Australia with 561 stores, strong execution
Slide 16: Pillar 1 Domestic Chemist Warehouse core growth market
Pillar 1 Domestic Chemist Warehouse core growth market CW branded stores CW branded network sales1 CW LFL sales1 1H27 pipeline stores 1H27 planned refurbishments 561 $10.2bn +13.4% 13 12 +24 in FY26 domestic network FY26 CW branded stores CW branded stores • Sales growth: CW delivering 11.3% CAGR ov
Slide 17: Pillar 2 International Growth Accelerating
Pillar 2 International Growth Accelerating 20 store openings2 in international markets in FY26, Ireland now profitable, and entry into the UK market in FY27 Network stores: Core international markets 24 35 42 50 61 75 +45.0% +20.3% 19 New Zealand 14 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Sales growth Sa
Slide 18: Pillar 3 Product Differentiation and structural margin lever
Pillar 3 Product Differentiation and structural margin lever Own and exclusive label sales up 15.0% in FY261 Own and exclusive label products approaching $1.0 billion (~10%) of CW branded store network sales1 Almost 63m units of own and exclusive label products sold across the CW branded store netwo
Slide 19: Pillar 4 Operating Leverage Volume driving efficiency gains
Pillar 4 Operating Leverage Volume driving efficiency gains Distribution Centre efficiencies: >240k aggregate capacity (sqm) across 11 DCs In Australia • South Guildford DC in WA closed in May 2026 • Port Adelaide DC in SA set to close in 1Q2027 • Upgrading Townsville DC and Hobart DC to enhance ser
Slide 20: Pillar 4 Operating Leverage $100m p.a. synergies on track
Pillar 4 Operating Leverage $100m p.a. synergies on track Year 1 Year 2 Year 3 Year 4 FY26 FY27 FY28 FY29 $32.6m synergies realised, and Continued execution of change Anticipate full realisation of $100m p.a. synergies during FY29, $25.9m one-off integration costs management program with phasing bas
Slide 21: Execution priorities and Outlook
Execution priorities and Outlook • Growing scale – a circa 1,000-store global pharmacy network in less- discretionary healthcare segment, with structural GLP-1 tailwinds • Australian CW branded network – FY27 LFL sales is continuing double digit growth (trading update to be provided at the AGM in Oc
Slide 22: Q&A Appendices
Q&A Appendices Sigma Healthcare Limited
Slide 23: APPENDIX 1 - Approach to Sigma's financial reporting
APPENDIX 1 - Approach to Sigma’s financial reporting Accounting for the Transaction Near-term future financial reporting Presented today Sigma FY25 results Sigma FY26 results Legal acquiror 12 months to 30-Jun-25 12 months to 30-Jun-26 12 months of CWG financial 12 months of CWG financial informatio
Slide 24: APPENDIX 2 - Key CW measures
APPENDIX 2 - Key CW measures Growth vs. FY26 FY25 PCP Chemist Warehouse (CW) Brand Network Sales1 ($m) Australia (CW Brand) 10,152.8 8,761.9 15.9% International (CW Brand) 1,602.1 1,299.6 23.3% Like-For-Like CW Brand Sales1 Growth (%) Australia (CW Brand) 13.4% 12.5% +90 bps International (CW Brand)
Slide 25: Important Notice
Important Notice The information contained in this presentation about Sigma Healthcare Limited and its subsidiaries (Sigma) is designed to provide: • an overview of the financial and operational highlights for Sigma for the full year period ending 30 June 2026; and • a high-level overview of aspects
Slide 26: Thank you
Thank you Sigma Healthcare Limited