Aft Pharmaceuticals Ltd. · NZX:AFT
Aft Pharmaceuticals — FY2026 Earnings Presentation
24 slides from Aft Pharmaceuticals's earnings presentation, May 21, 2026
Slide 1: Investor Presentation FY 2026
INVESTOR PRESENTATION FY 2026 | 21 MAY 2026 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: $300M Revenue Target Now in Sight
$300M Revenue Target Now in Sight Building a larger and more diversified business through disciplined international expansion CONTINUED STRENGTH IN EXPANDING GLOBAL FOOTPRINT ESTABLISHED ANZ BUSINESS • Europe: UK & EU • FY26 Total Sales $254.7M, up 22% (17.6% 5-yr CAGR) • North America: USA & Canada
Slide 4: An Unbroken Record of Growth
An Unbroken Record of Growth AFT has delivered two more than two decades of un-interrupted growth by identifying unmet clinical need and investing to develop and in-license intellectual property to meet those needs and improve health outcomes 17% 20 YR CAGR $255 $250.0 $208 $200.0 $195 OPERATING REV
Slide 5: Investment in Growth Driving Long Term Value Creation
Investment in Growth Driving Long Term Value Creation KEY HIGHLIGHTS • Full year operating revenue up 22% to $254.7 million (FY25: $208.0 million), driven by double-digit sales growth across all territories • Product sales and royalties up 21% to $251.6 million (FY25: $207.4 million), supported by g
Slide 6: Australia: Sustained Momentum in our Largest Market
Australia: Sustained Momentum in our Largest Market • Australia continued to be the primary driver of group performance in FY26, supported by broad-based strength across key OTC and pharmacy brands and ongoing uptake in prescription medicines. Revenue up 19%, operating profit up 19% • New product la
Slide 7: New Zealand: Steady Growth with Ongoing Opportunities
New Zealand: Steady Growth with Ongoing Opportunities • New Zealand delivered another year of growth (revenue up 11%, operating profit up 7%) supported by continued momentum across key categories and the ongoing expansion of our hospital injectables and prescription portfolio. • The New Zealand busi
Slide 8: Asia: Returned to Normalised Trading Conditions
Asia: Returned to Normalised Trading Conditions • Asia delivered a stronger FY26 result (revenue up 41% and operating profit up 111%) as full year trading normalised from one-off disruptions in FY25 • China continues to be a key strategic focus, supported by continued growth in iron and vitamin supp
Slide 9: AFT's Global Reach
AFT’s Global Reach Our medicines are now available in 87 countries around the world AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 9
Slide 10: 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 $28.5 100 $3.0 87 $25.0 80 $8.5 80 73 $20.0 61 $16.0 60 COUNTRIES $0.7 NZ$M $15.0 $13.1 46 43 $11.7 $25.5 $9.9 $0.9 40 $10.0 $6.7 $19.3 28 $2.1 $15.
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 UK • Combogesic tablets distribution extended to >2500 stores (Boots, SuperDrug and now independent pharmacies) • Combogesic IV NHS formularies listings build momentum • Ex
Slide 12: 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 • Large but complex market with significant opportunity • Selected OTC launches and contract sales force • Working closely with Hikma on Combogesic IV • Full Combogesic
Slide 13: 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 RESEARCH AND DEVELOPMENT EXPENSES* A significant number of licensing agreement dis
Slide 14: 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 15: Operating leverage and investment in development
Operating leverage and investment in development 2026 Revenue 2025 ∆% Year to 31 March $000 % $000 Revenue • Total revenue grew due to core growth in Australasia, Asia, International and a Revenue 254,705 208,021 22% normalisation in trading patterns Gross profit 110,551 43.4% 91,713 44.1% • Gross M
Slide 16: AFT is Well Funded – Well Positioned to Fund Growth Investments
AFT is Well Funded – Well Positioned to Fund Growth Investments 2026 2025 1H 26 • Net debt at the end of March 2026 was $38.6 Year to 31 March ∆% $000 $000 $000 million reflecting Current assets (excluding cash) 138,303 97,232 94,822 • Geo-political tensions – increasing Cash 10,240 11,110 -8% 12,09
Slide 17: Growth Investment Underpinned by Ongoing Strong Cashflow
Growth Investment Underpinned by Ongoing Strong Cashflow 2026 2025 Year to 31 March $000 $000 • Cash outflow follows Net cash from operating activities (9,539) 13,176 • Increased inventory • International expansion and growth Net cash used in investing activities (9,757) (6,951) initiatives Net cash
Slide 18: Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings
Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings • We expect to extend our growth record in FY27 as we drive towards our revenue goal of $300 million plus through: • continued expansion in Australasian markets; • a strong programme of launches across International hubs; • incr
Slide 19: Appendix
» v y APPENDIX
Slide 20: 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 21: 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 22: 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, Sinoject and Temperature Sta
Slide 23: 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 24: 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