• Revenue up 5% to $15.6b, led by CSL Behring and CSL Vifor
• NPAT up 17% to $3.0b, NPATA up 14% to $3.3b
• Intention to demerge CSL Seqirus as a substantial ASX-listed entity in FY26

CSL Limited (ASX:CSL; USOTC:CSLLY) today announces a reported net profit after tax of US$3.0b for the 12 months ended 30 June 2025, up 17% on a constant currency basis. Underlying profit (NPATA) was US$3.3b, up 14% on a constant currency basis. The company's business units performed well, with CSL Behring generating $11.2b in revenue (up 6%), CSL Seqirus $2.2b (up 2%), and CSL Vifor $2.2b (up 8%). Despite this progress, the Board and management team recognize the need to simplify the business and renew the focus on CSL's core strengths. To this end, the company is announcing a series of transformational initiatives, including changes to the R&D operating model, optimizing the plasma collection network, and streamlining corporate functions. These initiatives are expected to drive annualized cost savings of $500-550 million over the next three years. CSL also intends to demerge CSL Seqirus as a substantial ASX-listed entity before the end of FY26, allowing the business to pursue independent growth strategies. Additionally, the company will recommence a multi-year, on-market share buyback program starting with A$750m in FY26. The remaining CSL group will continue to focus on its leading positions in rare and serious diseases, benefiting from the positive long-term outlook and demand for its therapies.

In FY26, CSL group revenue growth is anticipated to be approximately 4-5% over FY25 at constant currency. CSL's NPATA for FY26, excluding the non-recurring restructuring cost, is anticipated to be in the range of approximately $3.45 billion to $3.55 billion at constant currency, representing growth over FY25 of approximately 7-10%.

The long-term outlook for CSL's therapies and vaccines remains distinctly positive, with multiple growth opportunities driven by increasing patient demand, unique competitive positions, and scalable platforms. The company is committed to delivering sustainable, profitable growth through its simplified and focused business.