Revenue Growth Drives CLINUVEL’s Sixth Consecutive Annual Profit

CLINUVEL today announced its sixth consecutive annual net profit, driven by revenues of $66.987 million, a 38% increase. For the year ending 30 June 2022 (FY2022), the Group has reported profit after income tax expense (NPAT) of $20.876 million and profit before income tax expense (PBIT) of $34.321 million, as disclosed in its Appendix 4E and Annual Report. The Group also reported a non-IFRS measure of adjusted net profit before tax of $39.837 million, which adjusts for certain material non-cash items that do not impact the Group’s cash position.

“CLINUVEL’s commercial operations are scaling up to meet treatment demand worldwide, while the Group is pursuing R&D projects which aim to add value over the long-term,” CLINUVEL’s Chief Financial Officer, Mr Darren Keamy said. “Our FY2022 results show a fundamentally strong business to date, allowing us to invest for future growth.

“Improved cash inflows this year have further bolstered the Company’s cash reserves enabling us to continue the implementation of a growth strategy in the face of difficult economic headwinds. The strong cash position has also allowed the Board to declare an increase in dividend this year, most of all recognising the loyalty and patience of long-term shareholders. We remain focused to translate our technology to the benefit of patients and specialised populations, particularly those at highest risk of light-induced damage and skin cancer,” Mr Keamy said.

Six Years of Revenue Growth and Profit

CLINUVEL remains one of the few ASX-listed bio-pharmaceutical sciences companies to generate a profit. In FY2022 the Company delivered its sixth consecutive year of positive cashflow, revenues and profit, while maintaining control of operating expenses to facilitate growth and expansion.