Image source: © Timonschneider | Megapixl.com

Highlights

  • CSL manages three businesses - CSL Behring, CSL Seqirus and CSL Vifor
  • In FY23, CSL’s revenue increased by 26% and EBIT increased by 18.7%
  • CSL shares closed 0.44% down at AUD 271.59 apiece on 16 August 2023 with a market capitalization of AUD 131.59 billion

Established in 1916, CSL Limited (ASX: CSL) is an ASX-listed biotechnology company with a portfolio of lifesaving medicines. The three businesses of CSL are CSL Behring, CSL Seqirus and CSL Vifor, through which the company develops, manufactures, markets and distributes its biopharmaceutical products and vaccines.

The ASX-listed pharmaceutical company reported double-digit growth in operating profit and revenue in the financial year 2023 (FY23). Total operating revenue during the stated period increased by 26% over the previous year to USD 13,310 million, while the EBIT zoomed by 18.7% on pcp (previous corresponding period) to USD 3,657 million. However, the statutory net profit fell by 0.5% on pcp to USD 2,244 million.

The period saw a surge in immunoglobulin sales, plasma collection and seasonal influenza vaccines. In FY23, the company launched a gene therapy HEMGENIX® and acquired CSL Vifor. In addition to this, the company also made some regulatory submissions and clinal studies in FY23.

Top 10 shareholders of CSL

The top 10 shareholders of CSL hold approximately 18.62% stake in the company. The Vanguard Group, Inc. and State Street Global Advisors Australia Ltd. have the maximum interest in the company, with a shareholding of nearly 5% and 3.18%, respectively.

Recent business update

Through an ASX filing dated 14 June 2023, CSL informed about the impact of the currency movement on the forecasted profit of FY23. The company upgraded the expected foreign currency headwind to USD 230 million to 250 million from USD 175 million, an expectation reported during the first half results.

Outlook

In FY24, the company expects to register an underlying profit of USD 2.9 to 3 billion on a constant currency basis, while the revenue is forecasted to increase by 9 to 11%.

The company intends to bring new products to markets, optimise plasma collection costs and improve manufacturing yields.

For CSL Seqirus, the focus remains on the growth from Influenza vaccine differentiation and registrations for next-generation mRNA covid vaccine globally.

Commercial and operational efficiency is the area of focus for CSL Vifor, the company said.

At CSL Behring, the company expects commercialisation of gene therapy HEMGENIX® US and EU and Ig growth. Also, the company is coming up with further initiatives to support mid-term margin recovery.

Share performance of CSL

CSL shares closed 0.44% down at AUD 271.59 apiece on 16 August 2023. With this, in the last 12 months, CSL's share price dropped by 8.37% and increased by 4.93% in the past one month. On a year-to-date basis, it has dropped by 5.61%.

The 52-week high of CSL is AUD 314.28 apiece, recorded on 3 February 2023, and the 52-week low is AUD 255.87 apiece, recorded on 17 July 2023.

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

Note 2: The reference date for all price data, currency, is 16 August 2023. The reference data in this report has been partly sourced from REFINITIV.