Paragon Care Limited (ASX:PGC) (“Paragon Care” or the “Company”) is pleased to report its financial results for the full year ended 30 June 2022 (“FY22”). Key highlights from the results include:
-- Underlying EBITDA up 21% to $30.2m: FY22 results include a five-month contribution from Quantum Healthcare acquired in February 2022. On a pro forma basis (including Quantum for a full 12 months), underlying EBITDA is estimated to be $34m.
-- Increase in gross profit margins to 41%: Driven by higher margin sales mix and improved foreign exchange and the inclusion of five months of Quantum results.
-- Strengthened balance sheet: Net debt down by 27% to $50.1m with net debt to EBITDA below 2x as at 30 June 2022. It is expected that net debt will increase slightly to around $55-$60m by June 2023.
-- Final dividend declared: A fully franked final dividend of 0.6 cents per share has been declared, representing a payout ratio of 55% of underlying NPAT on a pro forma basis (record date 13 September 2022 and payment date 4 October 2022).
-- Acquisition of Specialist Medical Supplies (SMS): Strategic acquisition to expand the product portfolio to drive further expansion and broaden market penetration. The transaction will be funded by 20% scrip and 80% cash from existing facilities, with completion 31 August 2022. (See separate ASX announcement released today).
For more information, download the attached PDF.
Download this document
