Slide 1: FY25 Financial Results
FY25 Financial Results 27 August 2025
Slide 2: Disclaimer
Disclaimer The following provisions apply to this presentation. Please consider its contents carefully. Currency of information CAAP comprises sales less materials and consumables, cartage and freight, third The information contained in this presentation is current as at the date of this party wareh
Slide 3: Agenda
01 | Introduction and Strategy Brett Charlton Agenda 02 | FY25 Financial Results Mark Sherwin 03 | 1H26 Priorities and Outlook Brett Charlton Brett Charlton Mark Sherwin Chief Executive Officer and Managing Director Chief Financial Officer FY25 FINANCIAL RESULTS | AUGUST 2025 | 3
Slide 4: Introduction and Strategy
Introduction and Strategy Brett Charlton
Slide 5: FY25 Results
FY25 Results Positive momentum during operating model transition REVENUE1 CORE BRAND REVENUE UNDERLYING EBITDA1,2 • Delivery of new operating model a key $ 139.0m $ 124.6m $ 7.3m focus for FY25. • Revenue decline primarily reflects exit (3.9%) | On FY24: $144.7m 1.9% | On FY24: $122.4m (5.3%) | On F
Slide 6: Core Brand Performance
Core Brand Performance Four out of five core brands in growth – five out of five in Australia and New Zealand AU SCAN DATA2 MCP FY25 MCP SALES CATEGORY MCP BRAND COMMENTARY REVENUE PERFORMANCE1 PERFORMANCE PERFORMANCE • Increased ranging and innovation within both Grocery and Pharmacy channels. • Mc
Slide 7: Transformation Roadmap: Progress to Date
Transformation Roadmap: Progress to Date 2H25 deliverables achieved, with transformation of operating model now substantially complete 2H24 1H25 2H25 OVERALL OVERALL OVERALL • June 2024: Divestment of Multix • Route-to-market review completed • Implemented new route-to-market and operating model • I
Slide 8: Case Study: Fusion Health
Case Study: Fusion Health Unlocking growth from disciplined early execution 01 03 05 08 PORTFOLIO BRAND REFRESH RTM 06 CHOICE POSITIONING PACKAGING INNOVATION • Strategic decision to • Refined positioning with • RTM Review: Right • Packaging to reflect prioritise Fusion Health the benefit of consume
Slide 9: FY25 Financial Results
FY25 Financial Results Mark Sherwin
Slide 10: Background to FY25 result
Background to FY25 result 01 02 03 Steady financial result New model substantially Transitional pipe-fill of under legacy model – implemented in 2H25: ~$5 million: working capital reflects residual cost base wholesaler agreements shift to support retailer post Multix and sub-let of Kingsgrove demand
Slide 11: Underlying Financials for Continuing Operations
Underlying Financials for Continuing Operations Focus remains on driving performance in core brands ALL FIGURES IN $M FY25 FY24 $ VAR % VAR Revenue1 139.0 144.7 (5.7) (3.9%) • Revenue decline reflects: Expenses ‒ Growth in core brands (up 1.9% or $2.3 million), benefitting from Materials and Consuma
Slide 12: Summary of Financials by Segment
Summary of Financials by Segment Core brand growth of 3.6% in Australia and New Zealand AUSTRALIA AND NEW ZEALAND (ANZ) ANZ • Revenue decline of $3.1 million primarily reflects decision to exit non- strategic lower margin brands (Sugar Baby and Eylure). REVENUE UNDERLYING EBITDA • Core brand revenue
Slide 13: Underlying EBITDA Bridge
Underlying EBITDA Bridge Upweighted A&P investment on core brands to drive sustained long-term growth UNDERLYING EBITDA ($M) • Contribution margin from core brands reflects: (0.4) ‒ Sales growth of 1.9%, driven by performance of Fusion, Lady Jayne and Manicare; offset by 7.7 ‒ Negative brand and cha
Slide 14: Material Items (pre-tax)
Material Items (pre-tax) Impacts from model reset and trading performance as previously announced MATERIAL ITEMS Non-Cash impairments to intangible assets including impairment of brand names, goodwill and customer relationship assets. Reflects current trading performance, in particular in the Intern
Slide 15: Net Cash Position
Net Cash Position Disciplined management of cash through transformation NET CASH BRIDGE ($M) • Operating cash flows of $2.2 million (FY24: $12.3 million) moderated by (5.3) increased working capital: ‒ FY24 operating cash flows included trading benefit of Multix brand1 (1.9) and favourable timing of
Slide 16: Transformation Benefit
Transformation Benefit Annualised benefit from transition to new operating model $ MILLION NET ANNUALISED EARNINGS BENEFIT Derived from +$2.0 to +$2.5 • Increased distribution and service capability, unlocking incremental revenue growth revenue-based benefits and offsets ($4.0) to ($4.5) • Pharmacy
Slide 17: 1H26 Priorities and Outlook
1H26 Priorities and Outlook Brett Charlton
Slide 18: Clear Strategy in Place
Clear Strategy in Place Brands / Customers / People / Digital Our strategy is about achieving sustainable, ambitious growth in our core categories of health, wellness and beauty. We want to grow market share and volume for our core brands through disciplined re-investment, and rigorous evaluation of
Slide 19: 1H26 Priorities
1H26 Priorities Embedding the new operating model 01: 02: Embed the new operating model Capitalise on improved distribution Along with enhanced talent, processes and and service delivery capabilities data capability to support it. Realise strategic and financial benefits from new operating model 03:
Slide 20: FY26 Outlook
FY26 Outlook Key drivers Incremental EBIT from new operating model to be invested 01 in customers, brands, and capabilities, in line with strategy. Moderate first-year returns expected. ~$5 million of transitional pipe-fill revenues in FY25 – 02 transitional pipe-fill from API will partially offset
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Slide 22: Appendices
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Slide 23: Reconciliation of CAAP and Underlying EBITDA to NPAT
Reconciliation of CAAP and Underlying EBITDA to NPAT FY25 FY24 CONTINUING DISCONTINUED CONTINUING DISCONTINUED TOTAL TOTAL $’000 OPERATIONS OPERATIONS OPERATIONS OPERATIONS Contribution after A&P (CAAP) 52,829 2,479 55,308 55,961 10,762 66,723 Employee and Other Expenses (45,552) (246) (45,798) (48,
Slide 24: Thank You
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