Aspen Pharmacare (APN) Results Snapshot 1H23

Diluted HEPS decreased to 660.6cps (-15.0% y-y). Normalised
Diluted HEPS fell to 679.6cps (-16.8% y-y).
Turnover declined by -1.2% y-y, affected by continuing decline in
Europe CIS commercial pharmaceuticals revenue (-6.0% y-y), and
Africa Middle East manufacturing revenue (-64.2% y-y)
Group GPM down 166bps from 48.5% to 46.8%.
Total expenses up 1.4%, with expenses to sales increasing to
27.3% compared to 26.6% in 1H22.
OPM down by 317bps to 20.3%.
No interim dividend declared.
Gross debt down from R27.2bn to R26.8bn.