Why CSL’s 14% Profit Surge Signals a New Era with Seqirus Demerger

Robust Financial Performance

CSL Limited has delivered a solid financial performance for the full year ended 30 June 2025, reporting a 5% increase in revenue to US$15.558 billion and a 14% rise in net profit after tax (NPAT) to US$3.002 billion. The company’s underlying net profit after tax before amortisation (NPATA) also grew 11% to US$3.219 billion, reflecting operational strength across its core businesses.

Driving this growth was strong demand for CSL Behring’s immunoglobulin portfolio, which expanded by 7% at constant currency, alongside successful launches of innovative therapies such as Andembry, a first-in-class monoclonal antibody for hereditary angioedema (HAE). The company also reported progress in its gene therapy and iron deficiency portfolios, with Hemgenix and Filspari gaining regulatory approvals in multiple markets.

Strategic Refocus and Seqirus Demerger

In a significant strategic move, CSL announced plans to demerge its vaccines business, CSL Seqirus, into a separately listed entity. This decision aims to provide both CSL and Seqirus with greater autonomy to pursue tailored growth strategies and sharpen their focus on core capabilities. CSL Seqirus, despite facing challenges from lower influenza immunisation rates in some regions, continues to hold a leadership position in pandemic preparedness and vaccine innovation, including the development of self-amplifying mRNA COVID-19 vaccines.

The demerger is expected to streamline CSL’s organisational structure, reduce complexity, and enhance shareholder value over the medium term. The company has emphasized that this is among the most significant changes in two decades, but expressed confidence in the outlook for both businesses.

Operational Excellence and Innovation

CSL is advancing operational excellence initiatives, including the rollout of the RIKA plasma collection device and the expansion of its manufacturing footprint with projects like Project Aurora in Broadmeadows, Australia, which recently won the 2025 ISPE Facility of the Year Award. These investments aim to increase plasma processing capacity ninefold and improve efficiency.

Research and development remain a priority, with CSL consolidating R&D sites into key biotech hubs and fostering cross-functional collaboration to accelerate pipeline development. The company’s focus on diseases with high unmet medical need and specialist manufacturing differentiation underpins its innovation strategy.

Sustainability and Community Impact

CSL continues to embed sustainability into its operations, targeting a 42% absolute reduction in Scope 1 and 2 greenhouse gas emissions by 2030 from a 2021 baseline. The company has increased renewable energy sourcing to 37% globally and introduced biodiversity as a new focus area. CSL also expanded its community contributions, supporting patient access programs and donor wellbeing initiatives worldwide.

Notably, CSL’s partnership with the World Federation of Haemophilia has enabled treatment access for thousands of patients in low- and middle-income countries, reflecting the company’s commitment to equitable healthcare.

Governance and Leadership Renewal

The Board welcomed two new independent non-executive directors during the year, Dr Brian Daniels and Ms Elaine Sorg, bringing extensive pharmaceutical and risk management expertise. The company also responded to shareholder feedback on executive remuneration by adjusting performance thresholds and enhancing transparency.

CSL’s leadership team, led by CEO Dr Paul McKenzie, remains focused on simplifying the organisation, driving growth through portfolio optimisation, and enabling its people to deliver sustained patient impact.