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General Information

Australian Pharmaceutical Industries Limited
API
http://www.api.net.au
Health Care Distributors
876
488

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$1.80 $1.80 $1.85 $1.80 $1.82 1227209 $0.03 ( 1.37% )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Hold
26/05/2015
2

Company Overview

Business Description
Australian Pharmaceutical Industries Limited (API) is an Australian health and beauty services company. API provides wholesale product delivery services, retail services, marketing programs and business advisory services to customers. API also has as a number of brands and banners in the retail health and beauty industry, including Priceline, Soul Pattinson and Pharmacist Advice. API has three main businesses namely, Pharmacy Distribution, Manufacturing and Retail.
Strategy Analysis
Under the 'Revitalise' plan, a new network plan is forecasted to reduce $18m in annualised cost over 3 years. Total required investment for the program is approximately $60m. Goals include: combining two supply chains into a single system to reduce inventory and freight costs; increase automation at distribution centres; and IT improvements. Revitalise program to consolidate Supply Chain is expected to deliver savings in FY11 of $10m and $18m in FY12. In its retail operations, management is looking to transfer further Priceline corporate stores to franchises. API will also focus is on organic growth in pharmacy and retail operations, as well as improving cost efficiencies.. Australian Pharmaceutical Industries reported NPAT of $30.28m for the year ended 31 August 2012. Revenue from ordinary activities were $3.22bn, down 6.1% from last year. Basic and Diluted EPS were 6.2 cents compared to (4.8) cents last year. Net operating cash flow was $47.82m compared to $48.21m last year. The final dividend declared was 1.5 cents, taking the full year dividend to 3 cents compared with 2.5 cents last year.

Financial Summary

Year to Aug NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 10.6 20.0% 16.9 6.5 3.6% 0.0%
2015 F 0.0 8.8 0.0% 20.3 4.7 2.6% 0.0%
2014 A -110.9 -22.7 0.0% 0.0 3.5 6.2% 100.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Australian Pharmaceutical Industries (API) $888M 0.0000 0.0000 0.2000 0.0000 20.5650 17.1375 1.92% 2.59% 3.57%
Sigma Pharma. (SIP) $951M 0.0545 0.2298 0.0488 18.0124 14.6465 13.9647 3.45% 5.46% 5.74%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 0.99 224.00 1.82 3.93
Market 1.02 17.20 1.32 1.56
Sector 0.65 23.50 2.78 1.23

Directors

Name Position Start Date
Mr Stephen Patrick Roche Chief Executive Officer, Managing Director 14/08/2006
Mr Robert Dobson Millner Non-Executive Director 12/05/2000
Ms Esther Carol Holley Non-Executive Director 19/12/2006
Mr Gerard James Masters Non-Executive Director 07/09/2010
Mr Kenneth William Gunderson-Briggs Non-Executive Director 06/05/2014
Ms Lee Ausburn Non-Executive Director 07/10/2008
Mr Peter Raymond Robinson Non-Executive Director, Non-Executive Chairman 05/05/2000

Management

Name Position
Genevieve Ryan Alternate Company Secretary
Graeme Fallet Chief Financial Officer
Peter F Sanguinetti Company Secretary
Stephen Arthurson General Manager, People
Richard Vincent Group General Manager, Business Development & Operations

Substantial Shareholders

Holding Name
120,214,969 (24.63%) Washington H Soul Pattinson and Co Ltd
58,122,597 (11.91%) S L Nominees Pty Ltd and Associates
32,138,866 (6.58%) Citicorp Nominees Pty Limited
31,110,561 (6.37%) J P Morgan Nominees Australia Limited
29,809,565 (6.11%) HSBC Custody Nominees (Australia) Limited

Calendar of Events

Date Event
21 April 2016 Report (Interim)
11 December 2015 Report (Annual)
22 October 2015 Report (Prelim)
05 June 2015 Div Pay Date
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