WNXFrom the final report
Delay in the 1H FY24 with the Pain Away transaction effected the financial performance of WNX, however once settled, the acquisition was justified with the following numbers realised:
- Revenue in the 2H FY24
increased by over 100% compared to the 1H FY24
- Margins
increased 255% from 11% to 39% in just 6 months
- Margins in dollars increased to $5M compared to FY23 of just $4.7M, even despite revenue decreasing by close to 40%
The above numbers are testament to the high margins that the Pain Away transaction have provided to Wellnex's bottom line
Pain Away has delivered the company strong revenue, margins and profits since the acquisition. The company is continuing to work on exciting developments to take advantage of the opportunities that the brand has to offer
Wellnex expanded its
Wakey Wakey range to six products, capitalizing on increased distribution and sales. The brand's success is due to major retailers stocking its full range, positioning it for continued growth in FY25 and beyond
Nighty Night, Australia’s first natural sleep aid in effervescent format, has rapidly gained distribution in grocery and pharmacy channels within a year. Launched to meet rising consumer demand for better sleep solutions, Wellnex Life expects significant growth in both distribution and sales for Nighty Night in FY25
Wellnex Life introduced Australia’s first slow-release iron gummy under
The Iron Company brand, securing placement in major pharmaceutical retailers. The company expects sales growth in FY25 as brand awareness rises and is considering expanding the product range
Through
Wagner Health Liquigesics, the joint venture brand with Chemist Warehouse achieved strong sales in FY24 and is expected to grow in FY25. Wellnex and Chemist Warehouse are expanding the product line, now featuring 6 SKUs. Wellnex retains all intellectual property for these products, utilizing it in other brands and licensing agreements
Wellnex acquired the teeth whitening brand
Mr Bright in FY23, which has a presence in the USA and UK but limited reach in Australia. In FY25, Wellnex plans to expand Mr Bright's distribution both domestically and internationally to capitalize on the growing high-margin oral care market
In July 2024, Wellnex Life launched
Wellness Life, a new medicinal cannabis brand in partnership with One Life Botanicals, targeting Australia's growing SAS market. With Chemist Warehouse's support, this joint venture aims to establish Wellness Life as a leading brand in the lucrative medicinal cannabis sector. The SAS market is expected to reach approximately $600 million in FY25, positioning Wellnex Life to benefit from strategic relationships and competitive pricing
