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AFT Pharmaceuticals Ltd (ASX:AFP) has gone well beyond its financial targets for the 2025 fiscal year, achieving revenue past the $200 million mark, and now the company’s looking towards reaching $300M in the next two years.
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The company unveiled its financial report for the year ending March 31, telling investors its full-year operating revenue had risen 6% to $208M. This was underpinned by an 11% rise in product sales and royalties across all territories, along with $0.7 million worth of income from licensing.
Group revenue was boosted by sales growth in the Australian and New Zealand markets, up 17% and 10% respectively. In Australia, this increase was offset by the one-off factors of destocking and interruptions to demand for Maxigesic IV.
In Oz, the operating profit was also in good shape, with an increase of 65%.
With this variable considered in the medium term, AFT has now set the goal of reaching $300M in revenue by the end of the 2027 fiscal year.
Earnings for the year were in a slightly weaker position, with EBITDA (earnings before interest, taxes, depreciation and amortization) falling 20% to $20.9M while operating profit fell 27% to $17.6 million – in line with guidance released at the half year – and net profit after tax was down 23% to $12M.
AFT co-founder and managing director Dr Hartley Atkinson said the company had already achieved multiple goals during the 2025 fiscal year.
“Aside from continued strong growth in our core Australasian businesses, we have significantly advanced strategy to extend our reach across multiple geographies and added to our research and development pipeline,” AFT’s boss explained.
Highlights included launching Maxigesic tablets in the U.S., the launch of a proprietary antiseptic cream in mainland China, and the completion of multiple licensing agreements around the world, including Maxigesic IV in China and Brazil, Mr Atkinson flagged.
“These efforts have come at the cost of short-term earnings growth, but we are convinced they will deliver growth in long-term shareholder value.”
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Mr Atkinson added: “In a credit to our out-licensing activities, we were identified as the only company in the world last year to secure two licensing agreements into China, the world’s second largest pharma market.”
AFP shares have been trading at $2.55.
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