• Merger with Chemist Warehouse completed, creating leading retail pharmacy franchisor and wholesaler
• Synergy target upgraded from $60m to $100m per annum
• Strong financial results with 82% revenue growth and 41% EBIT growth
• Positive long-term outlook, focus on integration and network expansion

Sigma Healthcare Ltd held its first AGM since completing the merger with Chemist Warehouse in February 2025. The Chairman provided an overview of the past 12 months, acknowledging the new board composition and the company's commitment to good governance. He highlighted the strategic rationale behind the merger, which aimed to create a leading Australian retail pharmacy franchisor and full-line pharmaceutical wholesaler. The merger has so far delivered everything anticipated, with the company's market capitalization now around $35 billion, placing it in the top 20 ASX-listed companies. The synergy target has been upgraded from $60 million to $100 million per annum, and net debt has been reduced to $752 million. The company has also implemented a robust Related Party Governance Framework to oversee related party transactions. In the CEO's address, Vikesh Ramsunder reported strong financial results for FY25, with revenue up 82% to $6 billion and normalised EBIT up 41% to $835 million. The Chemist Warehouse network achieved over 11% like-for-like sales growth, and the company made good progress on the integration, including unifying the leadership structure and combining support centers. Looking ahead, the company has a positive long-term outlook and will focus on continued network expansion, both domestically and internationally, while ensuring a seamless integration of the businesses.

For the first quarter of FY26, Total Chemist Warehouse Network sales were up 17.9% and like-for-like sales were up 14.7%. This reflects a strong performance across key product categories and a stronger contribution from GLP1 sales.

The company has a positive long-term outlook, with priorities focused on continuing to roll out new stores domestically and internationally, revitalizing the Amcal and DDS brands, and expanding own and exclusive product ranges. Ensuring a seamless integration of the businesses will also remain a top priority for the years ahead.