Image source: © Timonschneider | Megapixl.com

Highlights

  • CSL develops, manufactures, markets and distributes biopharmaceutical products and services
  • In 1HFY24, the company witnessed 12% YoY rise in revenue to USD 8,053 million
  • State Street Global Advisors Australia Ltd. has maximum stake in the company with a shareholding of ~4.99%

CSL Limited (ASX: CSL) is an ASX-listed biotechnology firm which is involved in research, development, marketing, manufacturing and distribution of biopharmaceutical products and services. The company provides innovative life-saving medicines in over 100 countries.

In the first half of the financial year 2024 (1HFY24), the company recorded 12% YoY rise in its total revenue to USD 8,053 million, 13% YoY increase in NPATA to USD 2,017 million and 14% YoY increase in revenue from CSL Behring business to USD 5,238 million.

The reported period saw a 23% YoY jump in sales of immunoglobulin products, 8% YoY increase in sales of albumin and 8% YoY growth in sales of Haemophilia products.

Recent business update

Through an ASX update dated 23 February 2024, the company notified that Ms. Samantha Lewis had bought 114 rights under the CSL Limited Non-Executive Director Rights Plan for AUD 32,190.63.

Top 10 shareholders of CSL

The top 10 shareholders of CSL have around 18.89% shareholding in the company, while the top four have nearly 12.70% shareholding. The Vanguard Group, Inc. and State Street Global Advisors Australia Ltd. have highest stake in the company with a shareholding of ~4.99% and ~3.18%, respectively.

Outlook

In FY24, the company expects to see nearly 9% – 11% YoY increase in its revenue on constant currency basis and expects its underlying profit to fall in the range of around USD 2.9 billion to USD 3 billion, at constant currency, representing nearly 13-17% YoY growth.

The company aims to achieve double-digit earnings growth on an annual basis over the medium term.

Growth in the immunoglobulins franchise is anticipated to continue backed by the growing patient demand. The company has taken up multiple initiatives to support continued expansion in the gross margin of CSL Behring.

Share performance of CSL

CSL shares closed 0.247% lower at AUD 282.30 apiece on 6 March with a market capitalization of AUD 136.72 billion. With this, in the past one year, CSL’s share price has decreased by 4.91%, and in the past three months, it has increased by 5.54%.

The 52-week high of CSL is AUD 312.99, recorded on 6 June 2023, while the 52-week low is AUD 228.65, recorded on 30 October 2023.

CSL Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 06 March 2024. The reference data in this report has been partly sourced from REFINITIV.