NZX Governance Explorer

How AFT Pharmaceuticals Limited makes money

Where AFT’s revenue went in FY2024: operating costs, depreciation, interest and tax, and what was left as net profit. Built from the income statement in the filed annual report, and drawn only when the figures reconcile with each other. AFT company profile

How AFT Pharmaceuticals Limited makes money — FY2024

Revenue $195.4m · EBITDA $26.2m (13.4% of revenue) · Net profit $15.6m (8.0% of revenue) · Financial year ending March (from the issuer record)

AFT Pharmaceuticals Limited (AFT) FY2024: where revenue of $195.4m wentRevenue → EBITDA: $26.2mRevenue → Operating costs (net of other income): $169.2mEBITDA → EBIT: $24.2mEBITDA → Depreciation & amortisation: $2.0mEBIT → Net profit: $15.6mEBIT → Interest: $3.7mEBIT → Income tax: $4.9mOther items (net gain) → Income tax: $1.5mRevenue: $195.4mRevenue$195.4mEBITDA: $26.2mEBITDA$26.2mOperating costs (net of other income): $169.2m (derived)Operating costs (net ofother income)$169.2m · derivedEBIT: $24.2mEBIT$24.2mDepreciation & amortisation: $2.0mDepreciation &amortisation$2.0mOther items (net gain): $1.5m (balancing item)Other items (net gain)$1.5m · balancingNet profit: $15.6mNet profit$15.6mInterest: $3.7mInterest$3.7mIncome tax: $6.4mIncome tax$6.4m

Band widths are proportional to NZD amounts. Dashed outlines mark derived figures; the hatched node is a balancing item (net profit less every line above it).

AFT Pharmaceuticals Limited FY2024 figures used in the chart
FY2024AmountStatusNote
Revenue$195.4mReported
Operating costs (net of other income)−$169.2mDerived *Reported operating expenses $64.6m do not reconcile; not used.
EBITDA$26.2mReported
Depreciation & amortisation−$2.0mReported
EBIT$24.2mReported
Interest (net finance costs)−$3.7mReported
Income tax−$6.4mReported
Other items (net gain)+$1.5mBalancing item *Net profit less the lines above; covers fair-value movements, impairments, associates and anything else not itemised.
Net profit$15.6mReported
  • * operating costs: $169.2m = Revenue − EBITDA
Checks run on these figures (6)
  • Passed: Revenue is within the scale of a column stored in thousands.
  • Passed: Revenue in the income statement ($195.4m) vs the summary table ($195.4m): agree within 2%.
  • Passed: EBITDA − D&A = $24.2m vs reported EBIT $24.2m: reconciles.
  • Not met: Reported operating expenses ($64.6m) leave $130.8m, not EBITDA of $26.2m (gap $104.6m); costs derived as revenue minus operating profit instead. No split is shown.
  • Passed: Balancing item $1.5m is 0.7% of revenue (limit 25%).
  • Not met: No operating segments recorded for this year.

Figures extracted automatically from the annual report; check against the report. NZD thousands as stored, shown in millions. Source: annual_report_pdf · method: claude_haiku_pdf · extracted 10 March 2026.

Annual report: AFT reports record revenue and earnings (PDF, NZX)

Year-on-year EBITDA bridge (FY2023 → FY2024)

Bridge not available: FY2023 is not charted: Figures were not read from a filed annual report (source: not recorded).

Margins over time

EBITDA, EBIT and net profit as a share of revenue for each year whose figures passed the checks (5 of 9 years from FY2018). The shaded line is the median of 11 other listed Healthcare operating companies, using each one’s same financial year where it passed the checks; the number of companies in each median is in the table. Gaps are years that were not charted.

EBITDA margin
AFT ebitda margin by financial year, with peer median-10%10%30%FY18FY20FY22FY24FY26FY2018: not charted — operating lossFY2019: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2020: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2021: not charted — EBITDA not recorded or derivable for this year (EBIT only)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: AFT 13.4%; peer median 12.2% (7)FY2025: not charted — unexplained residualFY2026: AFT 11.3%; peer median 11.4% (2)
EBIT margin
AFT ebit margin by financial year, with peer median-10%10%30%FY18FY20FY22FY24FY26FY2018: not charted — operating lossFY2019: AFT 7.2%; peer median 9.5% (4)FY2020: AFT 20.1%; peer median 5.6% (5)FY2021: AFT 9.5%; peer median 9.7% (5)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: AFT 12.4%; peer median 6.4% (7)FY2025: not charted — unexplained residualFY2026: AFT 9.6%; peer median 7.7% (2)
Net margin
AFT net margin by financial year, with peer median-10%10%30%FY18FY20FY22FY24FY26FY2018: not charted — operating lossFY2019: AFT -2.8%; peer median 13.9% (4)FY2020: AFT 12.0%; peer median 3.9% (5)FY2021: AFT 6.8%; peer median 2.0% (5)FY2022: not charted — not from annual reportFY2023: not charted — not from annual reportFY2024: AFT 8.0%; peer median 3.1% (7)FY2025: not charted — unexplained residualFY2026: AFT 5.5%; peer median 4.7% (2)

AFT   peer median   below the axis: year not charted (reason in the table). All panels share one scale.

AFT margins by year with peer medians
YearEBITDA margin: AFT · peer median (n)EBIT margin: AFT · peer median (n)Net margin: AFT · peer median (n)Note
FY2018—8.6% (3)—16.6% (4)—11.6% (4)Not charted: operating loss
FY2019—11.7% (4)7.2%9.5% (4)-2.8%13.9% (4)EBITDA not recorded or derivable for this year (EBIT only)
FY2020—9.3% (4)20.1%5.6% (5)12.0%3.9% (5)EBITDA not recorded or derivable for this year (EBIT only)
FY2021—17.9% (4)9.5%9.7% (5)6.8%2.0% (5)EBITDA not recorded or derivable for this year (EBIT only)
FY2022—23.7% (5)—19.4% (5)—10.7% (5)Not charted: not from annual report
FY2023—13.2% (6)—9.2% (6)—4.6% (6)Not charted: not from annual report
FY202413.4%12.2% (7)12.4%6.4% (7)8.0%3.1% (7)
FY2025—13.5% (7)—12.2% (7)—10.1% (7)Not charted: unexplained residual
FY202611.3%11.4% (2)9.6%7.7% (2)5.5%4.7% (2)

Peer medians use only peer-years that passed the same checks; a median of fewer than two companies is not shown. Years are grouped by financial-year label, and year-end months differ between companies.

Not yet available: where the cash goes (operating cash flow to capex, dividends and debt) and underlying versus reported earnings. The figures they need are not yet validated.

Years not charted

These years are on file but their figures did not pass the checks, so no chart is drawn for them.

  • FY2025: After placing every reported line, $2,818.7m (1355% of revenue) is left unexplained between EBIT and net profit. A residual that large usually means a line was mis-extracted, so the chart is not drawn.
  • FY2023: Figures were not read from a filed annual report (source: not recorded).
  • FY2022: Figures were not read from a filed annual report (source: not recorded).
  • FY2018: EBIT is -$10.1m. This layout does not draw an operating loss.

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Data sourced from NZX company annual reports (income statements). Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz.

For informational purposes only. Not investment advice.

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