Ascendis Health posts profit amid investment holding transition

Ascendis Health reported a profit of R11.3 million for the year ended June 30, 2025, a decrease from R57.2 million in June 2024. This was significantly impacted by a change in accounting policy to an investment holding company. The company recorded a non-cash expense of R34.8 million due to the recognition of an Expected Credit Loss provision on loans to portfolio companies. Net asset value per share increased to 101 cents from 99 cents, and tangible net asset value per share rose to 100 cents from 91 cents.

The medical devices investment portfolio saw 23% growth in fair value, driven by proactive restructuring and strategic investments. This strong performance helped offset subdued market conditions in the consumer health portfolio, which still delivered a solid 5% fair value growth. Earnings per share for the period were 1.8 cents, with headline earnings per share at 8.7 cents.

The group's financial stability is supported by a well-balanced investment portfolio and prudent risk management, with a continued focus on evaluating new healthcare technologies, improving margins, and geographic expansion. The board remains cautiously optimistic despite challenging macroeconomic conditions, committing to delivering long-term value to stakeholders.