First Impressions Profit Report: CSL - FY15 result in line but a weak FY16 guidance

Bell Potter


Business Units sales: In cc terms, sales for Immunoglobulins grew 5% in FY15 vs 13% in FY14; Specialty Products grew 15% vs 18% in FY14, Albumin up 12% vs 16% in FY14, Haemophilia was up 3% vs a decline of 4% in FY14 (reflecting some tender wins in pdFVIII), and bioCSL sales were up 11%. Net operating cash flow up 2% to US$1363.6m Outlook: CSL guided to FY16 NPAT growth of 5% in cc terms, excluding Novartis influenza vaccine sales, and greater EPS growth. On the same basis CSL guided to FY16 revenue growth of 7%. In an effort to increase gearing, management is contemplating launching another buyback program (last one was A$950m) and raising ~US$500m in debt in 1H16 Read the summary here: (VIEW LINK)

1 topic

1 stock mentioned

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.