• Strong cash generation, improved working capital management, and $1.5bn debt facility secured
• Upgraded synergy target from $60m to $100m per annum over 4 years
• Seamless integration remains a priority, with 17.9% 1Q26 CW network sales growth

Sigma Healthcare Ltd held its 2025 Annual General Meeting, providing an update on the company's transformation and growth following the merger with Chemist Warehouse. The strategic intent of the merger was to create shareholder value and an enhanced customer value proposition by combining Sigma's logistics and warehousing expertise with Chemist Warehouse's pharmacy retail and marketing expertise.In FY25, Sigma delivered strong results, with normalised revenue up 82.3%, normalised EBIT up 41.4%, and pro-forma EBIT of $903.4m. The company also strengthened its balance sheet and funding flexibility, securing a $1.5bn debt facility to 2028 with only $752m drawn at year-end. Sigma paid a final dividend of 1.3 cents per share, with a dividend payout ratio within the targeted range of 50-70%.The company has also made progress on its integration, upgrading its synergy target from $60m per annum to $100m per annum over the next four years. This includes measures such as the closure of three distribution centres, the conversion of 'My Chemist' stores to Amcal or Discount Drug Stores, and the unification of the leadership structure.Looking ahead, Sigma remains focused on seamless integration as it progresses towards achieving the $100m synergies target. The company reported a strong start to FY26, with Chemist Warehouse network sales up 17.9% in the first quarter compared to the same period in FY25, and like-for-like retail network sales up 14.7%. Sigma also continues to revitalize the Amcal and Discount Drug Stores network and roll out own and exclusive label brands to support margins, as well as the continued domestic and international store expansion.

Sigma Healthcare reported strong financial performance in FY25, with normalised revenue up 82.3%, normalised EBIT up 41.4%, and pro-forma EBIT of $903.4m. The company has also upgraded its synergy target from $60m per annum to $100m per annum over the next four years.

Sigma Healthcare remains focused on seamless integration as it progresses towards achieving the $100m synergies target. The company reported a strong start to FY26, with Chemist Warehouse network sales up 17.9% in the first quarter compared to the same period in FY25, and like-for-like retail network sales up 14.7%. Sigma also continues to revitalize the Amcal and Discount Drug Stores network and roll out own and exclusive label brands to support margins, as well as the continued domestic and international store expansion.