Key Highlights

  • Revenue rose 15.5% to $10.8 billion, normalised EBIT rose 20.6% to $1,090.0 million and normalised NPAT rose 22.3% to $732.3 million for FY26.
  • Net Debt fell to $663 million, equal to 0.57 times normalised EBITDA, and a fully franked final Dividend of 2.0 cents per share was declared.
  • Integration synergies of $32.6 million were delivered against a target of $100 million a year by FY29, and GLP-1 sales are described as diluting Margin percentage.

Sigma Healthcare Limited (ASX:SIG) announced its results for the year ended 30 June 2026 (FY26) on 27 August 2026. It is the company's first full financial year following the Merger with the Chemist Warehouse Group. Comparisons are made against normalised pro-forma FY25 figures, and normalised results exclude merger-related costs, integration costs and non-cash purchase price accounting charges.

Group financial results

Revenue of $10.8 billion was up 15.5%. Normalised EBIT of $1,090.0 million was up 20.6%, with the margin rising to 10.1% from 9.6%, and normalised NPAT of $732.3 million was up 22.3%. Net debt declined to $663.2 million, or 0.57 times normalised EBITDA, and the debt Facility was reduced to $1.4 billion. Capital Expenditure was $56.7 million. The company delivered $32.6 million of integration synergies, with one-off costs to achieve them of $25.9 million, and targets $100 million a year by FY29.

Australian segment

Australian Revenue was $10.4 billion, up 14.9%, with normalised EBIT of $1,034.2 million, up 18.3%. Sales benefited from higher consumption of GLP-1 medicines, which Sigma says dilute margin percentage, though the Australian gross margin was broadly maintained at 17.6%. Twenty-four Chemist Warehouse branded stores were added to reach 561, and 18 were refurbished. Chemist Warehouse branded network sales grew 15.9%, with like-for-like growth of 13.4%, on network sales to consumers of around $10.2 billion. Own and exclusive label sales approached $1.0 billion, almost 10% of network sales.

International segment

International revenue rose 33.0% to $421.4 million and EBIT rose 91.3% to $55.8 million. Sigma opened 20 stores offshore to reach 98, with like-for-like growth of 12.2% and network sales to consumers above $1.6 billion, up 23.3%. New Zealand has 75 stores with sales growth above 20%, and Ireland, with 18 stores, grew sales 45.0% and became profitable. A UK joint venture with Greenlight Healthcare expects two stores by the end of calendar 2026, and the China presence was cut to two stores.

Dividend and outlook

The Board declared a fully franked final dividend of 2.0 cents per share, in addition to a 2.0 cent interim dividend, consistent with a target payout of 50% to 70% of NPAT. It was payable on 22 September 2026, with an ex-dividend date of 3 September and a Record Date of 4 September.

For FY27, the company says the Chemist Warehouse branded store network is continuing double-digit like-for-like sales growth and a full trading update will come at the October AGM. In the first half it plans to onboard 13 Chemist Warehouse stores in Australia, 19 internationally including the UK entry, and 42 Amcal and Discount Drug Stores.

Supply chain and own-brand activity

Sigma distributed more than 579 million units across Australia, up over 6.5%, from existing distribution centre infrastructure. It consolidated Western Australian operations from two distribution centres to one in May 2026 and plans to consolidate South Australian operations in the first quarter of FY27, with upgrades under way in Townsville and Hobart and a new New Zealand distribution centre starting in September 2026. The company launched more than 470 new own and exclusive label products, its Wagner Pharmaceuticals generics Business grew over 30% with 88% customer adoption across the network, and its INC. protein Brand ranks second in the Australian pharmacy channel.

Network and brand details

Sigma describes a network approaching 1,000 pharmacies globally. It says its Amcal and Discount Drug Stores brands are being reinvigorated and expects the store count to return to growth in FY27 with a pipeline of 82 stores. The weighted average number of shares used for Earnings Per Share is 11,502,226,234, and the release includes statutory, normalised and pro-forma tables whose adjustments cover merger and integration costs and purchase price accounting.