• Revenue grew 13.0% and underlying EBITDA increased 3.2% to $300 million
• Healthcare segment underlying EBITDA grew 1.3% to $254 million, and Animal Care segment underlying EBITDA increased 15.1% to $68 million
• FY26 EBITDA guidance reaffirmed, with further improvement expected

EBOS Group has reported its interim results for the six months ended 31 December 2025 (HY26), delivering strong revenue growth of 13.0% and a 3.2% increase in underlying EBITDA to $300 million. The Healthcare segment underlying EBITDA grew 1.3% to $254 million, driven by new customer wins, demand for high-value medicines, and the expansion of Retail Pharmacy Brands. The Animal Care segment underlying EBITDA increased 15.1% to $68 million, supported by continued branded portfolio strength, successful new product launches, and the acquisition of SVS. EBOS reaffirmed its FY26 EBITDA guidance, with further improvement expected as productivity and utilisation continue to increase and demand remains strong across key healthcare and animal care markets. The company's major distribution centre renewal program is progressing to plan, with the largest site now fully operational. As these assets move into steady state, EBOS expects to realise meaningful efficiency gains and strengthen the quality and reliability of its network. With peak investment largely behind it, the company anticipates a step-up in cash flows from FY27, supported by lower capital expenditure and a more stable operating base. This will create headroom to deleverage and enable continued investment in growth.

FY26 EBITDA guidance is reaffirmed, with further improvement expected as productivity and utilisation continue to increase and ongoing solid demand across key healthcare and animal care markets.

Revenue momentum to continue, driven by network growth across retail pharmacy brands, innovation-led growth within Animal Care products, and regional expansion and solution opportunities within Medical Technology. Margin outlook positive, driven by productivity uplift & improved utilisation in Healthcare, expanded CSO regime, and ongoing benefit from business mix shift. Interest and D&A expected to normalise, with peak capex in FY26 and a more stable asset base from FY27 onwards. Capex to reduce by ~30% in FY27, following completion of the DC renewal program, supporting stronger cash flows. Balance sheet leverage expected to reduce in FY27, reflecting lower capex, revenue growth and improved operating efficiency.