EZZ in top shape delivering strong Q4 FY23 results including 21% rise in cash receipts
Health & Biotech
Health & Biotech
EZZ’s latest quarterly results show it continues to deliver a strong financial performance, while also establishing the infrastructure for further global growth.
Australian life science company EZZ Life Science Holdings (ASX: EZZ) continues to deliver a strong financial result with Q4 FY23 showing continued growth.
Highlights of Q4 include:
EZZ said the growth in receipts from customers was primarily driven by continued sales growth on e-commerce distribution channels in international markets.
EZZ has a focus on genomic research and development to address four key human health challenges including genetic longevity, human papillomavirus (HPV), helicobacter pylori, and weight management.
It is the exclusive wholesale distributor for the EAORON branded skin care range to pharmacies, supermarkets and specialist retailers in Australia and New Zealand and produces and distributes its range of consumer health products under the EZZ brand.
The company released four new products EZZ Heart Health, EZZ Hair Growth Shampoo, EZZ Hair Growth Conditioner, and EZZ Sheep Placenta during Q4 FY23.
In May, it inked a deal with Aubay Pty Ltd trading as HIC for the exclusive distribution rights of two EZZ-branded products, excluding Tmall, Douyin and Pinduoduo and all channels in the Australia and New Zealand regions.
The two EZZ products are EZZ NMN 175000 Gift Pack and EZZ L-Lysine Growth Capsule 60.
The two-year agreement forecasts additional annual revenues of more than $16 million to EZZ commencing from FY24.
EZZ also ranked 41st in the Australian Financial Review’s Fast Global List highlighting Australian companies seeing rapid growth in international revenue.
Due to continued expansion into international markets, the company had a CAGR for FY20 to FY22 of 30.8%, which resulted in its ranking.
The list assessed EZZ’s performance primarily during the period impacted by the Covid-19 pandemic (FY20-22) with its growth rate increasing further in FY23.
The company also showcased its key products for mothers, babies, and toddlers at the Vietbaby Exhibition in Vietnam.
During the quarter, EZZ declared and paid a fully franked interim dividend for the FY23 half year result at 98 cents/share, which was double its previous dividend payment.
The company also started a new lease for 18 months at $377k per annum for a new company headquarters.
EZZ plans to build a new laboratory, three studios for livestreaming consumer and marketing content, several display rooms and working spaces for staff and contractors.
This article was developed in collaboration with EZZ Life Science Holdings, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decision.