CSL Limited (ASX:CSL; USOTC:CSLLY) today announced a revised profit outlook for fiscal 2018. The Company now expects net profit after tax for FY18 to be in the range of approximately $1,680 to $1,710 million USD at constant currency1.
In February this year the Company provided guidance that it expected net profit after tax for FY18 to be in the range of approximately $1,550 to $1,600 million USD at constant currency1.
Mr Paul Perreault, CSL’s Chief Executive Officer and Managing Director, said “I am pleased to report an improved Company outlook for the financial year, underpinned by a confluence of positive outcomes as we work to deliver on our strategy. Of particular note has been a positive product and geographic sales mix shift, particularly with better than expected sales of Idelvion® and Haegarda®. Furthermore, Seqirus is also performing well, following a severe northern hemisphere influenza season. The phasing of investments in some of our clinical trials has also yielded a positive financial variance.
In compiling the Company’s financial forecasts for the year ending 30 June 2018 a number of key variables which may have a significant impact on guidance have been identified and these have been included in the footnote2 below.
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VP Investor Relations
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1 Constant currency removes the impact of exchange rate movements to facilitate comparability. See 1H18 results announcement for further detail. Full year foreign exchange impact is expected to be ~$30m favourable, assuming current rates remain steady for the remainder of the year.
2 Key variables which may have a significant impact on guidance include material price and volume movements in plasma products, competitor activity, changes in healthcare regulations and reimbursement policies, royalties arising from the sale of Human Papillomavirus Vaccine, internationalisation of the Company’s influenza vaccine sales and plasma therapy life cycle management strategies, enforcement of key intellectual property, regulatory risk, litigation, the effective tax rate and foreign exchange movements.