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CSL Limited Annual Report 2012-2013 Al Repo R T 2012-2013 Annual Report 2012-2013 CSL Limited ABN 99 051 588 348

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CSL Limited Annual Report 2012-2013 Al Repo R T 2012-2013 Annual Report 2012-2013 CSL Limited ABN 99 051 588 348 CSL LIMITED CSL LIMITED ANNUAL REPORT 2012-2013 ANNU AL REPO R T 2012-2013 Annual Report 2012-2013 CSL Limited ABN 99 051 588 348 FINANCIAL CALENDAR ANNUAL GENERAL MEETING 2013 Wednesday 16 October 2013 at 10:00am Function Centre, National Tennis Centre 14 August Annual profit and final dividend announcement Melbourne Park, Batman Avenue Melbourne 3000 9 September Shares traded ex-dividend 13 September Record date for final dividend AGM LIVE WEBCAST 4 October Final dividend paid 16 October Annual General Meeting The CSL Limited Annual General Meeting will be webcast through CSL’s website: 31 December Half year ends www.csl.com.au 2014 Log on to the Home Page of CSL’s website and then click on the item called 12 February Half year profit and interim dividend announcement Annual General Meeting webcast. 5 March Shares traded ex-dividend 12 March Record date for interim dividend SHARE REGISTRY 4 April Interim dividend paid Computershare Investor Services Pty Limited 30 June Year ends Yarra Falls, 452 Johnston Street Abbotsford VIC 3067 13 August Annual profit and final dividend announcement Postal Address: GPO Box 2975 8 September Shares traded ex-dividend Melbourne VIC 3001 12 September Record date for final dividend Enquiries within Australia: 1800 646 882 3 October Final dividend paid Enquiries outside Australia: +61 3 9415 4178 15 October Annual General Meeting Investor enquiries facsimile: +61 3 9473 2500 31 December Half year ends Website: www.investorcentre.com Please see inside back cover for legal notice. 1 CSL Limited Annual Report 2012-2013 CONTENTS ABOUT CSL 2 OUR BUSINEssES 3 YEAR IN REVIEW BUsiness Highlights 4 Financial Highlights 6 Year in Review 8 BUSINEss FEATURES CSL Behring 14 bioCSL 21 Research and Development 23 OUR COMPANY Directors’ Profiles 26 Global Leadership GroUp 28 Share Information 30 Shareholder Information 31 Corporate Governance 33 FINANCIAL REPORT Directors’ Report 42 AUditor’S Independence Declaration 70 Consolidated Statement of Comprehensive Income 71 Consolidated Balance Sheet 72 Consolidated Statement of Changes in EQUity 73 Consolidated Statement of Cash Flows 74 Notes to the Financial Statements 75 Directors’ Declaration 134 Independent AUditor’S Report 135 MEDICAL GLOssARY Inside back cover 2 CSL Limited Annual Report 2012-2013 ABOUT CSL CSL Limited has over 11,000 staff in more than 27 countries. We produce life-saving and life-enhancing medicines that enable many thousands of people around the world to lead normal healthy lives. Our headquarters is in Australia and we have substantial manufacturing operations in the US, Germany, Switzerland and Australia. CSL is a global specialty manufacturing facilities, right through CSL’s continuing priority is to develop biopharmaceutical company that to our investment in the development innovative therapies and programs that researches, develops, manufactures of new and improved therapies for make a real and lasting difference to the and markets biotherapies to treat unmet patient needs. lives of people who use our products, and prevent serious and rare medical CSL supports patient, biomedical and providing new medicines for unmet conditions. We produce safe and local communities by improving access needs and continuous improvement of effective therapies for patients who to therapies, advancing scientific our protein-based therapies. To achieve rely on them for their quality of life, knowledge, supporting future medical this, we invest in life cycle management and sometimes for life itself. researchers, and engaging our staff in and market development for existing Innovation is at the heart of everything the support of local communities. We products, as well as longer term, new we do. It is reflected in our creation of also contribute to humanitarian programs product development opportunities. state-of-the-art plasma collection and and relief efforts around the world. 3 2 1 6 7 8 4 9 10 11 5 Regional Sales and Distribution 3 CSL Limited Annual Report 2012-2013 OUR BUSINEssES CSL BEHRING bioCSL RESEARCH AND DEVELOPMENT CSL Behring is a global leader in At Parkville in Melbourne, bioCSL CSL continues to invest in the biotherapies with the broadest range operates one of the largest influenza development of protein-based medicines of quality products in our industry and vaccine facilities in the world, to treat serious human illnesses. Today, substantial markets in the US, Europe, manufacturing seasonal and pandemic most of our licensed medicines are Australia and Japan. influenza vaccines for global markets. purified from human plasma or made Our therapies are indicated for bioCSL also develops, manufactures and from traditional sources. In addition, treatment of coagulation disorders markets immunohaematology products CSL is building the capabilities required including haemophilia and von (diagnostic reagents) for Australia and to develop future products using Willebrand disease, primary immune the Asia Pacific, markets and distributes recombinant DNA technology. deficiencies, hereditary angioedema in-licensed vaccines and pharmaceuticals Global research and development and inherited respiratory disease. in Australia and New Zealand, and activities support CSL’s existing products CSL Behring products are also used to manufactures and distributes antivenoms and development of new therapies that prevent haemolytic disease in newborns, for Australia and Papua New Guinea. align with our technical and commercial speed recovery from heart surgery, capabilities in immunoglobulins, specialty prevent infection in people undergoing products, haemophilia and coagulation, solid organ transplants, and help victims and breakthrough medicines. of shock and burns to recover faster. 1. BERN Switzerland CSL Behring 3 R&D, Manufacturing, 2 Commercial Operations 1 2. MARBURG Germany 6 7 CSL Behring 8 R&D and Manufacturing 4 9 10 3. GOETTINGEN Germany CSL Plasma Testing Laboratory 11 6. KANKAKEE US HATTERSHEIM Germany CSL Behring CSL Behring R&D and Manufacturing bioCSL 7. KING OF PRUSSIA US Commercial Operations CSL Behring SCHWALMSTADT Germany Administration, R&D, CSL Plasma Commercial Operations EU Logistics Centre and Distribution 4. TOKYO Japan bioCSL Commercial Operations CSL Behring R&D, Commercial Operations 8. INDIANAPOLIS US and Distribution CSL Plasma 5. MELBOURNE Australia Logistics Centre CSL Limited 9. MESQUITE US R&D, Group Head Office CSL Plasma bioCSL Logistics Centre R&D, Manufacturing, 10. KNOXVILLE US Commercial Operations, Warehousing and Distribution CSL Plasma Testing Laboratory CSL Behring 5 R&D, Manufacturing, 11. BOCA RATON US Regional Sales and Distribution Commercial Operations CSL Plasma and Distribution Administration 4 CSL Limited Annual Report 2012-2013 BUSINEss HIghlIGHTS CSL HAS RECORDED ANOTHER YEAR OF STRONG BUSINEss PERFORMANCE > Net profit after tax was US$1,216 million for the year ended 30 June 2013. This WITH CONTINUING SALES GROWTH result included an unfavourable foreign ACROss OUR PLAsmA PRODUCTS exchange impact of US$18 million. On a PORTFOLIO AND IMPROVED constant currency basis², operational net EffICIENCIES ACHIEVED THROUGHOUT profit after tax was US$1,234 million. OUR GLOBAL ORGANISATION. AT THE SAME TIME, LOOKING TO > CSL has maintained a strong balance FUTURE MARKET GROWTH, CSL HAS sheet with US$762 million cash on hand REMAINED FOCUssED ON EXPANDING against borrowings of US$1,679 million. MANUFACTURING CAPACITY, Cash flow from operations was DEVELOPING NEW MEDICINES AND US$1,312 million. Our latest buyback of up to A$900 million together with ENHANCING FINANCIAL MANAGEMENT. previous buybacks has contributed to a 4.9% boost to earnings per share. > Given the predominance of US dollars > Immunoglobulin sales continued at as the currency for CSL’s global sales and a strong pace with Hizentra® a top commencing with the announcement performer in both the US and Europe, of our first half results in February 2013, and with Privigen® growth assisted CSL has now fully moved to reporting by European approval for its use in in US dollars as foreshadowed when management of chronic inflammatory announcing our results in August demyelinating polyneuropathy. last year. Growth in albumin sales was driven by demand in Asia and Europe. Specialty product highlights included strong sales of Haemocomplettan® supported by increased use in management of perioperative bleeding, and the US launch of Kcentra™, our prothrombin complex concentrate for warfarin reversal in patients with acute bleeding. 5 CSL Limited Annual Report 2012-2013 > A highlight of our investment in > CSL Plasma continues to upgrade and research and development this year expand the capacity of plasma collection has been the continued advancement centres and open new facilities. This year in the development of a family of nine new collection centres and a new recombinant coagulation factor logistics centre were opened in the US, therapies to treat haemophilia and and work has substantially progressed other bleeding disorders. to double the size of plasma testing facilities in Knoxville, Tennessee. > At our Broadmeadows site in Australia, construction of a new cell > A significant business reorganisation culture biotechnology facility has this year has been the integration been completed and test batches of of Australian plasma operations recombinant proteins have been made in into CSL Behring, creating a single preparation for the production of clinical global plasma business. As part of the trial material in the first quarter of 2014. reorganisation, the Australian-based
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