CSL Ltd reported a 2% decline in full-year net profit on Thursday, as increased restructuring costs offset revenue growth in its core plasma therapies and vaccines divisions.
The Melbourne-based biotechnology company said net profit attributable to shareholders fell to A$2.13 billion ($1.42 billion) for the fiscal year ended June 30, down from A$2.17 billion in the prior year. Revenue rose 6% to A$13.7 billion, driven by higher demand for immunoglobulin and albumin products, as well as contributions from its Seqirus vaccine unit.
However, CSL’s earnings were weighed down by A$350 million in restructuring and integration costs, primarily related to its acquisition of Vifor Pharma and internal operational adjustments. Excluding these one-off expenses, underlying profit rose 5% to A$2.48 billion, the company stated.
CSL Chief Executive Paul McKenzie acknowledged the impact of the restructuring but highlighted progress in integrating Vifor’s operations and expanding production capacity. “While the restructuring has weighed on near-term earnings, we remain confident in the long-term growth trajectory of our plasma franchise and vaccine portfolio,” McKenzie said in a statement.
The company maintained its full-year dividend at A$1.25 per share, signaling confidence in its financial resilience despite macroeconomic headwinds, including inflationary pressures and supply chain constraints.
CSL’s shares were little changed in early trading, reflecting investor focus on the balance between restructuring costs and long-term strategic benefits.
