SDI's financial performance and strategic direction

SDI (ASX:SDI) announced record after-tax profits of $10.4 million at their Annual General Meeting. The company faced challenges during the 2024 financial year, especially with new European product registration requirements. Despite these challenges, SDI achieved record sales of $111.2 million, driven by strong demand for aesthetic and whitening products.

Summary of SDI's annual achievements and strategic plans

SDI reported impressive financial results for 2024, with record after-tax profits of $10.4 million and sales reaching $111.2 million. This growth was primarily led by aesthetic products, with significant contributions from the European market. The company successfully navigated the new European Union Medical Device Regulation, securing an extension for its legacy products. SDI is investing in infrastructure, with a new property in Montrose and plans for a manufacturing plant by 2025. The introduction of the Stela product aims to transition customers from declining amalgam sales. SDI remains committed to its ESG roadmap, aligning with its corporate strategy for sustainable growth. The company acknowledges the support of its board, management, staff, and stakeholders in achieving these milestones.

Insights from SDI's leadership on performance and future

At SDI Limited's Annual General Meeting, Chairman Jeffery Cheetham OAM addressed the company's performance and future outlook. Despite challenges in the 2024 financial year, particularly with changes in European product registration requirements, SDI achieved record after-tax profits of $10.4 million. This success was driven by a focus on aesthetic and whitening products, which led to record sales of $111.2 million, particularly strong in the European market. The introduction of Stela, a new amalgam replacement product, is expected to offset declining amalgam product sales.