• Reaffirmed FY26 EBITDA guidance, with continued strong revenue growth expected
• Confidence in H2 FY26 EBITDA delivery, with opportunities across Healthcare, Pharmacy, Medical Technology and Animal Care
• Balance sheet remains strong, with leverage expected to reduce in FY27

EBOS Group has delivered solid H1 FY26 results, with Underlying EBITDA increasing 3.2% to $300 million. The company has reaffirmed its FY26 EBITDA guidance of $615-$635 million, reflecting continued strong revenue growth. EBOS is confident in its H2 FY26 EBITDA delivery, with opportunities across Healthcare, Pharmacy, Medical Technology and Animal Care. The Healthcare segment delivered strong topline growth and improved productivity, with the Retail Pharmacy Brands continuing to grow the store network and same-store revenue. The Institutional Healthcare division saw solid growth, driven by the Medical Technology business, while the Contract Logistics division delivered strong growth, underpinned by the DC renewal program. The Animal Care segment maintained solid performance, with the integration of recent acquisitions progressing well. EBOS' balance sheet remains strong, with leverage expected to reduce in FY27 following EBITDA growth and a step down in capex, on conclusion of the DC renewal program. The company's bolt-on acquisition program is ongoing, with $70 million deployed in H1 FY26 to expand regional presence, therapeutic areas, pharmacy retail network and manufacturing capability.

FY26 EBITDA guidance is reaffirmed at $615-$635 million, reflecting ~7% midpoint growth, slightly weighted towards H2 FY26. Underlying EBITDA of $315-$335 million is expected in H2 FY26, representing an uplift of $21-$41 million compared to H2 FY25.

EBOS expects 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 is positive, driven by productivity uplift and improved utilisation in Healthcare, expanded CSO regime, and ongoing benefit from business mix shift. Capex is expected to fall by ~30% in FY27, unlocking growth reinvestment and stronger free cash flow.