Fisher & Paykel Healthcare's FY24 Financial Performance

Fisher & Paykel Healthcare Corporation Limited (ASX: $FPH) has reported a 10% increase in total operating revenue to $1.74 billion for the financial year ended 31 March 2024. The company's underlying net profit after tax was $264.4 million, representing a 6% increase over the previous financial year. Fisher & Paykel Healthcare also provided revenue and earnings guidance for the 2025 financial year, expecting full-year operating revenue in the range of approximately $1.9 billion to $2.0 billion and net profit after tax in the range of approximately $310 million to $360 million.

Executive Commentary on FY24 Results and Future Outlook

The company made progress in returning to its long-term gross margin target of 65%, achieved a gross margin of 61.1% in constant currency, and invested $198.2 million in research and development during the financial year. The Board approved a dividend of 23.5 cents per share for the second half of the year, bringing the total dividend for the 2024 financial year to 41.5 cents per share, a 2% increase over the previous financial year. Looking ahead to the 2025 financial year, the company expects further improvement in gross margin and provided revenue and earnings guidance, reflecting its commitment to sustainable, profitable growth.

Outlook and Corporate Strategy

Fisher & Paykel Healthcare's outlook for the 2025 financial year includes expectations of revenue growth and improved gross margin. The company's long-term vision is to continue delivering new solutions that provide better outcomes for patients and sustainable, profitable growth for shareholders. Fisher & Paykel Healthcare is committed to its culture of Care by Design, focusing on patient care, relationships, internationalism, commitment, and originality. The company also supports the United Nations Sustainable Development Goals, with a focus on ensuring healthy lives, promoting sustainable economic growth, and ensuring sustainable consumption and production patterns. The Board and Executive Management Team oversee the company's operations, financial management, product development, and corporate governance, ensuring a strong foundation for future growth and innovation.