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Aspen is in a closed period from 1st July 2026 until the publication of the annual results on the JSE SENS platform on the 2nd September 2026.

Author: Shauneen Beukes

Aspen closes EUR 1,26 billion syndicated loan facilities

Durban, South Africa – JSE Limited listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, has closed a multi-currency, syndicated term loan and revolving credit facilities agreement. These facilities, totalling circa EUR 1,26 billion equivalent, were put in place to refinance Aspen’s 2018 syndicated loan facilities.    The facilities were structured across EUR, ZAR and AUD term and revolving credit facilities, with tenors of three to four years and additional extension options available. All facilities were consolidated into a single facility agreement, with lenders ranking pari-passu. Following primary syndication, the transaction was significantly oversubscribed thereby providing substantial scale-back to the lenders.   Stephen Saad, Aspen Group Chief Executive said, “We are very pleased with the outcome of this syndication particularly noting the current global risk-off sentiment. It is encouraging to see that all invited lenders have supported the transaction which is testament to their confidence in the Aspen Group.”   Citi, FirstRand Bank Limited, acting through its Rand Merchant Bank division (“RMB”), MUFG Bank (Europe) N.V. (“MUFG”), and Nedbank Limited, acting through its Nedbank Corporate and Investment Banking division (“Nedbank”) acted as Coordinators, Bookrunners and Initial Mandated Lead Arrangers for this transaction. MUFG acted as the Documentation Agent while ABSA Bank Limited acted as Facility Agent and RMB as the Publicity Agent.    Coordinators, Initial Mandated Lead Arrangers and Bookrunners:   Mandated Lead Arrangers:   Lead Arrangers:

Aspen delivers double digit organic growth in normalised EBITDA, operating profit and earnings

Johannesburg – JSE-listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, is pleased to report reviewed provisional Group financial results for the year ended 30 June 2022.   SALIENT FEATURES Revenue from continuing operations increased by 2% (+5% in constant exchange rate (“CER”)) to R38,6 billion (FY2021: R37,8 billion); Normalised EBITDA from continuing operations increased by 11% (+13% in CER) to R11,0 billion (FY2021: R9,9 billion); Normalised headline earnings per share from continuing operations increased by 24% (+26% in CER) to 1 627,6 cents (FY2021: 1 309,7 cents); Headline earnings per share from total operations increased by 31% (+31% in CER) to 1 461,2 cents (FY2021: 1 119,1 cents); Earnings per share from total operations increased by 36% (+36% in CER) to 1 432,3 cents (FY2021: 1 052,9 cents); Dividend declared to shareholders increased by 24% to 326 cents per ordinary share (FY2021: 262 cents); Aspen signs 10-year agreement with the world’s largest vaccine producer, Serum Institute of India.   Stephen Saad, Aspen Group Chief Executive said, “The Group has achieved a robust set of results for the year ended 30 June 2022, supported by improved operating margins underpinned by a lower operating expense base and a strong balance sheet, all of which provide a solid foundation for future sustainable growth.”   “Aspen has concluded a 10-year collaboration agreement with Serum Institute of India Pvt. Ltd. (“the Serum Institute”) to manufacture, market and distribute four Aspen-branded routine vaccines in Africa. In responding to the COVID-19 pandemic, investing billions to establish world class steriles manufacturing capability, Aspen has demonstrated its ability to partner successfully to deliver millions of doses of vaccine to the highest standard. Through this agreement with the Serum Institute, the partners are responding to the African Union’s call for more African vaccine manufacturing on the continent. Enhancing access to medicines is at the forefront of Aspen’s ESG strategy. ”   GROUP HIGHLIGHTS (CONTINUING OPERATIONS) 1 – The Group assesses its operational performance using constant exchange rate (“CER”) and all segmental performance-related commentary is made with reference to the underlying CER trends. The table above compares performance from continuing operations to the prior comparable period at reported exchange rates and at CER. 2 – The CER % change is based upon the performance for the year ended 30 June 2021 restated using the average exchange rates for the year ended 30 June 2022. 3 – Operating profit before depreciation and amortisation adjusted for specific non-trading items as set out in the normalised headline earnings reconciliation on page 8 of Aspen’s Year End Results Booklet available at www.aspenpharma.com. 4 – Normalised headline earnings per share (“NHEPS”) represents headlines earnings per share (“HEPS”) adjusted for specific non-trading items as defined in the Group’s accounting policy. 5 – Dividend declared on 31 August 2022, to be paid on 26 September 2022 (2021: Declared on 1 September and paid 27 September 2021). GROUP PERFORMANCE (CONTINUING OPERATIONS) The Group has delivered a strong performance, with double digit organic growth in normalised EBITDA, operating profit and earnings. This performance is testimony to Aspen’s resilience against the backdrop of a challenging trading environment and inflationary cost pressures.   Group revenue for the financial year ended 30 June 2022 grew 2% (+5% CER) to R38 606 million with Commercial Pharmaceuticals revenue declining 1% (+1% CER) and Manufacturing revenue increasing 11% (+18% CER). Gross profit growth of 3% (+5% CER) slightly exceeded revenue growth, with the underlying segmental gross margins all showing improvement. The increased contribution from the lower margin Manufacturing segment diluted the overall gross margin percentage. Normalised EBITDA rose 11% (+13% CER) to R11 012 million, largely due to the leverage provided by lower operating expenses. NHEPS increased 24% (+26% CER) to 1627.6 cents, bolstered by reduced net financing costs. The higher percentage growth in earnings per share, relative to HEPS, is attributable to the profit on the sale of a product portfolio divested in South Africa.   Net borrowings reduced to R16,1 billion, down from the R16,3 billion reported at 30 June 2021, ensuring that the Group’s leverage ratio remained comfortably below target levels. This provided the Group with an opportunity to fund a share buy-back of R1,8 billion (2.2% of issued shares) during the year. Operating cash flow was impacted as a consequence of increased inventory investment by the Manufacturing segment in key input materials to mitigate future supply constraint risks which may arise from continued global supply chain disruptions.   SEGMENTAL PERFORMANCE (CONTINUING OPERATIONS AT CER) Commercial Pharmaceuticals Commercial Pharmaceuticals, comprising of Regional Brands and Sterile Focus Brands, grew 1% to R27 658 million. Solid underlying volume growth of 4% was impacted, primarily, by the divestment of certain products in South Africa, challenges faced by our Chinese business, including volume-based procurement (“VBP”) and COVID-19 (“COVID”) related lockdowns, as well as the impact of the geopolitical situation in Russia and Ukraine on our businesses there. Gross profit increased 3% to R16,1 billion, supported by improved margins in both Regional and Sterile Focus Brands, despite the inflationary and freight cost headwinds experienced, particularly in the second half of the financial year.   Regional Brands Regional Brands revenue increased by 3% to R17 405 million, with 13% growth from Australasia and 8% from the Americas, being the major contributors. Supply constraints and product portfolio divestments impacted the performance of Africa Middle East. Gross profit percentage was up at 56.5% (FY2021: 54.6%), driven by cost of goods savings and portfolio optimisation, combined with a favourable product mix.   Sterile Focus Brands Revenue from Sterile Focus Brands decreased 2% to R10 253 million due to lower sales in Russia CIS during the second half of the financial year and the aforementioned challenges in China. A higher gross profit percentage of 60.7% (FY2021: 60.0%) benefitted from cost of goods savings partially offset by higher logistics costs.   Manufacturing Manufacturing revenue increased 18% to R10 948 million with significant growth in finished dose form sales. This included R1,4 billion in revenue from the fill and finish… Continue reading Aspen delivers double digit organic growth in normalised EBITDA, operating profit and earnings

Aspen hosts more than 800 Mandela Day activities over 12 years

“Our purpose, To improve the health and quality of life of patients is closely aligned to the ethos of Mandela Day. This has been clearly demonstrated through our endeavours to provide citizens across the continent with vaccines which are manufactured in South Africa for Africa.”   Durban – JSE Limited listed Aspen Pharmacare Holdings Limited (“Aspen”), a global specialty and branded pharmaceutical company, has hosted more than 800 activities over 12 years in celebration of the annual Nelson Mandela International Day (“Mandela Day”). Stephen Saad, Aspen Group Chief Executive said, “Our purpose, To improve the health and quality of life of patients is closely aligned to the ethos of Mandela Day. This has been clearly demonstrated through our endeavours to provide citizens across the continent with vaccines which are manufactured in South Africa for Africa. Aspen has participated in Mandela Day since 2011 and we continue to endorse the campaign which this year calls on people across the world to “Do what you can, with what you have, where you are”.  Our employees have shown their humanitarian spirit celebrating Mandela Day globally in spite of the limitations imposed by the COVID-19 pandemic. They have stood firm and continued to reach out and make a difference in the lives of others, particularly during recent years when the world needed a touch of kindness the most.” “Through Mandela Day, we live our ethos of Healthcare. We Care as we work alongside an extensive range of beneficiaries across 6 continents,” added Saad. “These include abandoned, neglected, orphaned or abused babies, children and women; the elderly, hungry and homeless; individuals dealing with mental wellness challenges; students who are eager to be educated; those who are disabled; victims of the Ukrainian conflict; residents at social rehabilitation institutions; and healthcare facilities and their patients who are in dire need of support and equipment, among others.” The Nelson Mandela Foundation’s focus for 2022 is to promote community and home-based gardens, supporting fruit and indigenous tree planting, and creating awareness of the intersections between food security and climate change. Similarly, a number of Aspen’s activities include environmental efforts such as tree planting; garden maintenance, preservation and enhancement; repackaging, repurposing and distributing surplus food; recycling and fighting pollution. Aspen’s Mandela Day projects cover a wide spectrum of initiatives that include healthcare, nutrition, education, social enhancement and development, infrastructural improvements, animal wellbeing, preserving the environment, and providing employees with the opportunity to show kindness to citizens of all ages from all walks of life. Since initiating our annual Mandela Day Campaign in 2011, Aspen has impacted the lives of some 880 000 beneficiaries through more than 810 projects hosted across 40 countries.   Read more about Aspen’s Mandela Day activities at www.aspenmandeladay.com, follow us on FaceBook, Twitter or LinkedIn and engage on social media via #aspenmandeladay.

Aspen donates life-saving medicines for 62000 surgeries in Ukraine

Aspen has donated life saving medicines valued at R11 million to facilitate 62 000 surgeries in Ukraine

Johannesburg, South Africa – Aspen Pharmacare, Africa’s largest pharmaceutical company, has extended its support to Ukraine with donations of life-saving medicines required for urgent surgical intervention. This action further demonstrates Aspen’s ongoing commitment to saving lives and improving the quality of life of patients irrespective of their location or circumstances. Stavros Nicolaou Aspen Senior Executive said, “We are in the business of saving lives and the impact of the ongoing humanitarian crisis in Ukraine cannot be ignored. Ukraine is desperate for critical care, surgical and life-saving interventions and as a leading global supplier of anaesthetics and other critical medicines, we are doing everything in our power to support this humanitarian effort. We have worked tirelessly with the Embassy of Ukraine in South Africa regarding logistics and transportation and we have arranged multiple donations of anaesthetics and other medications, the first of which have arrived in Ukraine from the United Kingdom. This shipment will ensure that 40 000 life-saving surgical interventions can take place to assist critically injured and maimed patients. A second shipment, which is being dispatched from Germany and is expected to arrive in Ukraine imminently, will provide medical supplies for an additional 22 000 surgeries. The total value of these donations is approximately R11 million (approximately US$740 000). The provision of further shipments of medical supplies is currently being assessed. South Africa has also been impacted by the unfolding crisis. To this end Aspen has arranged for the safe repatriation of 25 South African students who were studying at universities in Ukraine and who were forced to flee the conflict to avoid becoming casualties of war themselves. Ten highly traumatised and emotional students were welcomed home by their families at OR Tambo International Airport on 10 March 2022 and the last two students are expected to arrive in the country within the week. Ms Liubov Abravitova, Ukraine’s Ambassador to South Africa said, “The Russian/Ukrainian conflict has resulted in a significant humanitarian crisis, exacerbated by the bombing of critical infrastructure, which has left many citizens critically injured and without medicines, water and electricity. We are grateful for Aspen’s support and life-saving medicines which brings hope to the people of Ukraine. Many Ukrainian healthcare workers are fighting the war at the frontline, working under desperate circumstances to keep the healthcare system going and this donation of critical and life-saving medicines will assist these healthcare workers to save the lives of both injured civilians and those in the armed services.”

Aspen delivers double digit organic revenue grown in constant exchange rates

Stephen Saad, Aspen Group Chief Executive

  Johannesburg – JSE Limited listed Aspen Pharmacare Holdings Limited (APN), a global multinational specialty pharmaceutical company, has announced unaudited interim financial results for the six months ended 31 December 2021. SALIENT RESULTS Aspen reported the following salient results: Revenue from continuing operations increased by 4% (+10% in constant exchange rate (“CER”) to R19,4 billion (December 2020: R18,6 billion); Normalised EBITDA from continuing operations increased by 10% (+15% in CER) to R5,7 billion (December 2020: R5,2 billion); Normalised headline earnings per share from continuing operations increased by 21% (+26% in CER) to 816.4 cents (December 2020:676,2 cents); Headline earnings per share from total operations increased by 37% (+43% in CER) to 777,2 cents (December 2020: 566,2 cents); and Earnings per share from total operations increased by 32% (+37% in CER) to 736,2 cents (December 2020: 558,4 cents); and Aspen secures right to branded COVID-19 vaccine Aspenovax[1]. Stephen Saad, Aspen Group Chief Executive said, “We are proud to announce the arrival of Aspenovax with these results. Aspenovax is testament to the skills and capabilities within Aspen and their ability to deliver at the very highest level globally. Aspen shares this proud moment with all of Africa. These results reflect both the strong operating performance within Aspen and a sound balance sheet. The progress being made to margins has been through the operationalisation of the significant historic investments. Our highlight has been the delivery of 180m vaccines to Johnson & Johnson, almost all for Africa. The business has faced and continues to face unprecedented supply chain challenges as a result of COVID-19 related impacts, exacerbated by the conflict within Ukraine. We have built great momentum in the first half and providing the geopolitical challenges do not cause further deterioration, we are hopeful to repeat this performance into the second half. Our performance and capacities within our sterile manufacturing platform has created many more opportunities. We believe this demonstration of competence will be the enabler for the enhancement of future growth. “ [1] Aspen SA Operations has undertaken the required process to assess the acceptability of the Aspenovax name with the South African Health Products Regulatory Authority. COMMENTARY GROUP HIGHLIGHTS (CONTINUING OPERATIONS) The Group has delivered double digit organic revenue growth in constant exchange rate (“CER”) and even stronger normalised EBITDA and earnings outcomes against the backdrop of challenging trading conditions. Headwinds from the COVID-19 pandemic disrupted procurement, supply, logistics, employee productivity and customer demand. Consistent supply of the COVID -19 vaccines manufactured at our Gqeberha site in South Africa further illustrated Aspen’s capability and commitment to providing access to high quality medicine to patients.   The recent conclusion of an agreement with Johnson & Johnson for an Aspen branded COVID-19 vaccine, Aspenovax, will enable Aspen to make a meaningful contribution to improving equitable COVID-19 vaccine access for Africa. This has been made possible by Johnson & Johnson’s unstinting support in enabling Aspen to pursue its vision for a COVID vaccine brand for Africa, the proven capabilities of our manufacturing team in Gqeberha and the strong encouragement of a number of influential African leaders. The Group assesses its operational performance using CER and all segmental performance-related commentary is made with reference to the underlying CER trends. The table below compares performance from continuing operations to the prior comparable period at reported exchange rates and at CER. The strengthening of the ZAR (relative to the rates in the comparable prior period) against the majority of the other currencies in which Aspen trades, has diluted all reported profit and earnings metrics. The CER % change is based upon the performance for the six months ended 31 December 2020 restated using the average exchange rates for the six months ended 31 December 2021. 1 Operating profit before depreciation and amortisation adjusted for specific non-trading items as defined in the Group’s accounting policy. 2 NHEPS is HEPS adjusted for specific non-trading items as defined in the Group’s accounting policy. Group revenue for the six months ended 31 December 2021 grew 4% (+10% CER) to R19,4 billion with Commercial Pharmaceuticals remaining flat (+5% CER) and Manufacturing up 19% (+30% CER). Normalised EBITDA rose 10% (+15% CER) to R5,7 billion. This growth exceeded that of revenue due to an improved normalised EBITDA margin and the leverage provided by lower operating expenses. Normalised headline earnings per share (“NHEPS”) increased 21% (+26% CER) to R8,16, helped by reduced net financing costs. Net borrowings increased to R19,3 billion from R16,3 billion at 30 June 2021, driven primarily by deferred consideration payments relating to prior year business transactions, a dividend paid to shareholders and the weaker ZAR closing rate relative to 30 June 2021. Operating cash flow was in line with expectations and included increased inventory investment by Manufacturing in key input materials to mitigate future supply constraint risk arising from COVID-19 disruption to global supply chains and logistics. On 1 March 2022, the Group successfully concluded an agreement with Acino Pharma AG for the sale of a portfolio of products in South Africa for a consideration of R1,8 billion, plus the cost of inventory, which consideration has been received. SEGMENTAL PERFORMANCE (CONTINUING OPERATIONS AT CER) Commercial Pharmaceuticals Commercial Pharmaceuticals, comprising Aspen’s Regional Brands and Sterile Focus Brands, grew 5% to R14,3 billion. Gross profit increased 6% to R8,3 billion supported by improved margins in both Regional and Sterile Focus Brands. Regional Brands Regional Brands revenue increased by 4% to R8,7 billion, with 18% growth from Australasia being the major contributor. Supply constraints severely impacted the performance of Aspen’s major Regional Brand region, Africa Middle East. Gross profit percentage was up for the period at 56.9% (H1 2021 : 56.0%), driven by cost of goods savings and favourable product mix. Sterile Focus Brands Revenue from Sterile Focus Brands increased 5% to R5,5 billion led by strong growth in Asia (+11%). This growth was against the backdrop of the prior period benefitting from strong COVID-19 related sales. A higher gross profit percentage of 61.0% (H1 2021 : 60.1%) benefitted from a favourable Anaesthetic product mix… Continue reading Aspen delivers double digit organic revenue grown in constant exchange rates

Closed Period

Aspen is in a closed period from 1st January 2026 until the publication of the interim results on the JSE SENS platform on the 3rd March 2026.

The live presentation will take place in Cape Town at 08h30 on 2 March 2023.

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