-
Revenue
-
Performance
2025
26%
of Group revenue
2%
of Group gross profit
Europe CIS
90
Australasia
5
Africa Middle East
4
Asia
1
| Revenue | 2025 R'million |
2024 R'million |
% Change Reported |
CER |
|---|---|---|---|---|
| Finished dose form | 5 099 | 5 262 | (3) | 0 |
| Active pharmaceutical ingredients | 4 718 | 5 102 | (8) | (5) |
| Heparin | 1 330 | 3 772 | (65) | (64) |
| Total | 11 147 | 14 136 | (21) | (19) |
| Gross profit percentage | 3.7 | 9.2 |
Manufacturing revenue of R11 147 million ended 21% lower (-19% CER) compared to the previous year. Reduced revenue
from Heparin was the main cause of this decline as the business benefitted from high once-off sales in the prior year due to
the transition to a working capital light toll model. The API segment displayed a strong performance in H2 2025 with full year
growth impacted by the expiry of an onerous contract benefit enjoyed in FY2024. Expected revenue growth in FDF was
significantly impacted by the loss of the mRNA contract.
Normalised EBITDA of R668 million in CER ended 62% lower than the prior year impacted mainly by the Dispute within the FDF segment.
Normalised EBITDA of R668 million in CER ended 62% lower than the prior year impacted mainly by the Dispute within the FDF segment.
