Key Highlights

  • EBOS Group Limited (ASX:EBO): FY26 Revenue increased 9.9% YoY to AUD 13.487 billion across Healthcare and Animal Care operations.
  • Underlying EBITDA rose 5.0% to AUD 614 million; underlying NPAT declined 3.1% to AUD 250 million.
  • Statutory NPAT increased 4.7% to AUD 225 million in FY26.
  • The four-year AUD 360 million distribution centre renewal program was completed, with major facilities operational.
  • EBO maintained its final Dividend at NZD 61.5 cents per share, while Leverage was 2.1 times.

EBOS Group Limited (ASX:EBO) distributes healthcare and animal-care products across Australasia. Its FY26 market release dated 19 August 2026 reported higher group revenue and underlying EBITDA, supported by Volume and Acquisition contributions. The company also completed a multi-year distribution centre Investment program. Higher depreciation, financing expenses and operating pressures meant that Underlying Profit moved differently from revenue, making segment performance and Capital spending important to the annual results.

Group Results and Profit Measures

Revenue increased from AUD 12.267 billion in FY25 to AUD 13.487 billion in FY26, a rise of 9.9%. Underlying EBITDA increased from AUD 585 million to AUD 614 million, representing 5.0% growth.

Underlying NPAT fell from AUD 258 million to AUD 250 million, reflecting higher depreciation, Amortisation and financing costs. Statutory NPAT increased from AUD 215 million to AUD 225 million. These contrasting profit movements demonstrate the importance of distinguishing underlying and statutory measures.

Healthcare Distribution Activity

The Healthcare segment reported revenue of AUD 12.580 billion, up 8.5%, and underlying EBITDA of AUD 516 million, up 3.2%. Community Pharmacy, Hospital Medicines, Medical Technology and Contract Logistics all contributed to segment activity.

Community Pharmacy revenue increased 10.2% to AUD 7.1 billion. The company cited GLP-1 therapies and high-value medicines as Demand contributors. Contract Logistics gross Operating Revenue increased 13.1% to AUD 174 million. Segment growth was partially offset by higher fuel costs and foreign exchange effects.

Pharmacy Network and Infrastructure

TerryWhite Chemmart network sales increased approximately 9.2% to AUD 2.9 billion. The network recorded more than 1.2 million health service interactions, according to the release. The total wider retail pharmacy network reached 780 stores under the company’s definition.

EBO completed its four-year AUD 360 million distribution centre renewal program. The facilities had entered operation by the FY26 announcement, while optimisation and productivity measures were expected to continue. Completion of construction differs from achieving all expected operating savings.

Financial Position and Dividend

Leverage was 2.1 times, compared with 1.9 times in FY25 and within the company’s target range of 1.7 to 2.3 times. Return on capital employed was 12.8%, down 20 basis points, reflecting a larger investment base.

The final dividend was maintained at NZD 61.5 cents per share, with a stated Payout Ratio of 84.5% of underlying NPAT. EBO described FY27 priorities centred on distribution efficiency, productivity and growth. These are management intentions, not assured financial outcomes.

Key Insights

EBO’s FY26 result combined higher revenue and EBITDA with lower underlying NPAT as capital-investment costs continued to affect earnings. Pharmacy demand, healthcare logistics and broader distribution contributed to sales, while completion of the distribution centre program marked an operational milestone. Later results will show whether utilisation and productivity measures produce the anticipated benefits.