Note 1: Segment Information continued CSL Behring CSL Seqirus CSL Vifor2 Consolidated Entity US$m 2023 2022 2023 2022 2023 2022 2023 2022 Sales and service revenue 8,968 8,359 1,851 1,777 1,957 – 12,776 10,136 Influenza pandemic facility reservation fees – – 156 162 – – 156 162 Royalty and license revenue 215 195 – – 27 – 242 195 Other income 107 44 24 25 5 – 136 69 Total segment revenue 9,290 8,598 2,031 1,964 1,989 – 13,310 10,562 Segment gross profit3 4,575 4,582 1,264 1,152 1,411 – 7,250 5,734 Segment gross profit %3 49.2% 53.3% 62.2% 58.7% 70.9% – 54.5% 54.3% Sales and marketing expenses (782) (774) (182) (187) (490) – (1,454) (961) Segment operating result3 3,793 3,808 1,082 965 921 – 5,796 4,773 Segment operating result % 40.8% 44.3% 53.3% 49.1% 46.3% – 43.5% 45.2% Research and development expenses3 (1,232) (1,043) General and administrative expenses3 (907) (648) Operating profit (EBIT)3 3,657 3,082 Finance costs (444) (165) Finance income 38 18 Profit before tax3 3,251 2,935 Income tax expense3 (504) (554) NPATA4 2,747 2,381 Amortisation and impairment of acquired intellectual property (IP)5 (235) (115) Unwind of inventory fair value uplift6 (169) – Acquisition and integration costs7 (184) (40) Income tax credit on above adjustments 85 29 Statutory net profit after tax (NPAT) 2,244 2,255 Amortisation of intangibles (excluding IP) 3 3 14 17 9 – 106 95 Depreciation 273 281 60 60 24 – 490 445 Impairment not relating to acquired IP – 13 – – – – – 13 EBITDA8 4,069 4,105 1,156 1,042 954 – 3,900 3,595 NPATA4 2,747 2,381 – Attributable to equity holders of CSL 2,610 2,381 – Attributable to non-controlling interests 137 – Statutory net profit after tax (NPAT) 2,244 2,255 – Attributable to equity holders of CSL 2,194 2,255 – Attributable to non-controlling interests 50 – 2 C SL acquired CSL Vifor in August 2022 (Note 2) and as a result the financial results represent the profit contribution from that date onward, therefore not for a full twelve month period as with other segments. 3 U nderlying results are adjusted to exclude impairment and amortisation of acquired IP, business acquisition and integration costs and unwind of the inventory fair value uplift. The reconciliation between the underlying and statutory results has been disclosed. 4 N PATA is defined as the statutory net profit after tax before impairment and amortisation of acquired intellectual property, business acquisition and integration costs and unwind of the inventory fair value uplift. The reconciliation between NPATA to the statutory NPAT has been disclosed. 5 T he amortisation of acquired IP for the year ended 30 June 2023 is attributable to CSL Vifor ($229m) and CSL Behring ($6m), of which $181m is attributable to CSL Limited shareholders. Amortisation and impairment of commercialised IP and in-development IP is reported within cost of sales and research and development expenses respectively within the statutory consolidated statement of comprehensive income and is excluded from underlying results. 6 T he unwind of the inventory fair value uplift represents the purchase price allocation adjustment recognised upon the acquisition of CSL Vifor. The unwind is reported within cost of sales within the statutory consolidated statement of comprehensive income and is excluded from underlying results. The inventory fair value uplift recognised on the date of acquisition ($200m) has been substantially unwound during the year ended 30 June 2023 ($169m, of which $122m is attributable to CSL Limited shareholders). 7 T he acquisition and integration costs are associated with the acquisition of CSL Vifor (Note 2). 8 E BITDA is defined as statutory net profit for the period before interest, tax, depreciation, amortisation and impairment for the respective operating segment where activities, assets and liabilities can be directly attributed to the segment. Results related to the groups centrally managed functions, impairment and amortisation of acquired IP, business acquisition related costs, tax and net finance costs are not allocated to segments. The total unallocated costs at an EBITDA level were $2,279m for the year ended 30 June 2023 (2022: $1,552m). The unallocated depreciation, amortisation and impairment expenses (including acquired IP amortisation and impairment) were $448m for the year ended 30 June 2023 (2022: $407m, which included the impairment of Calimmune related indevelopment IP of $113m). CSL Limited Annual Report 2022/23 119
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