| Metric | Value |
| Headquarters | Melbourne, Victoria, Australia |
| Total Operating Revenue | US$15.558 billion |
| Net Profit for the Year | US$3.136 billion |
| Basic Earnings Per Share (EPS) | US$6.20 |
| Total Dividend Per Share (2025) | US$2.92 |
| Cashflow from Operations | US$3.561 billion |
| Global Employees | Over 29,000 |
| Global Reach | 100+ countries |
| Research & Development Expense | US$1.359 billion |
| Gross Profit | US$8.079 billion |
| CSL Behring Revenue | US$11.158 billion |
| CSL Seqirus Revenue | US$2.166 billion |
| CSL Vifor Revenue | US$2.234 billion |
| Total Assets | US$39.404 billion |
| Total Liabilities | US$17.997 billion |
| Net Assets | US$21.407 billion |
| Cash and Cash Equivalents | US$2.157 billion |
| Return on Invested Capital (ROIC) | 11.5% |
| Global Manufacturing Facilities | Broadmeadows, Marburg, Bern, St. Gallen, Kankakee, Holly Springs, Liverpool, Parkville, Tullamarine |
| CEO and Managing Director | Dr. Paul McKenzie |
Company Overview
CSL Limited is a preeminent global biotechnology leader dedicated to discovering, developing, and delivering innovative biotherapies and vaccines. Operating across more than 100 countries with a workforce exceeding 29,000 employees, the enterprise focuses on addressing severe and rare medical conditions, encompassing immunology, hematology, cardiovascular and metabolic diseases, respiratory conditions, and transplant therapeutic areas.
The core operational philosophy centers on fulfilling unmet medical needs by leveraging four strategic scientific platforms: plasma fractionation, recombinant protein technology, cell and genetic medicines, and vaccines technology.
- Global reach allows the delivery of lifesaving therapies to diverse populations, mitigating the impact of rare and complex diseases.
- Operating revenue reached US$15.558 billion for the 2025 financial year, driven by sustained demand for market-leading therapies and strategic portfolio expansions.
- Investment in R&D stands at a formidable US$1.359 billion, underwriting the continuous advancement of novel therapeutic pipelines.
- CSL provides lifesaving products to patients in more than 100 countries.
- The company operates one of the world’s largest and most sophisticated plasma collection networks, with collection centres in the US and Europe.
Business Segments
The corporate structure is vertically integrated and divided into three primary strategic business units, each addressing distinct public health and medical needs.
CSL Behring
Revenue: US$11.158 billion Percentage of Total Revenue: 71.72%
As the largest operating segment, CSL Behring discovers, develops, and delivers innovative therapies for people living with a range of rare and serious health conditions. It treats bleeding disorders, immune deficiencies, chronic inflammatory demyelinating polyneuropathy, and hereditary angioedema.
- Operational Scope: CSL Behring consists of vertically integrated components spanning from donor to patient. In plasma collection, the focus is on enhancing collection efficiency, reducing unit acquisition costs, and providing a world-class donor experience. Manufacturing capabilities are focused on fractionating and transforming plasma into PDTs, and supplying recombinant medicines.
- Key Strategic Focus: A key priority is sourcing sufficient and sustainable volumes of plasma. The company aims to increase yield for immunoglobulins (Ig) and albumin through data analytics and smarter plasma allocation.
CSL Vifor
Revenue: US$2.234 billion Percentage of Total Revenue: 14.36%
CSL Vifor is a global partner of choice for pharmaceuticals and innovative leading therapies in iron deficiency and nephrology.
- Operational Scope: This division addresses chronic kidney disease across the spectrum—from kidney damage prevention to the treatment of dialysis complications and rare nephrology. In the iron portfolio, CSL Vifor navigates a dynamic iron market landscape with advanced intravenous therapies like FERINJECT.
- Key Strategic Focus: Executing more than 30 planned product launches across iron and nephrology portfolios to broaden global impact. Recent milestones include the recommendation of FILSPARI by England’s National Institute for Health and Care Excellence for IgA nephropathy patients.
CSL Seqirus
Revenue: US$2.166 billion Percentage of Total Revenue: 13.92%
CSL Seqirus is a major contributor to the prevention of influenza globally and a transcontinental partner in pandemic preparedness.
- Operational Scope: Utilizing advanced cell-based, adjuvanted, and self-amplifying mRNA (sa-mRNA) technologies, the division supplies pioneering vaccine solutions. It maintains active agreements with over 30 governments worldwide to ensure rapid deployment of pandemic influenza vaccines.
- Key Strategic Focus: Continuing to grow the influenza franchise with differentiated products like FLUAD and FLUCELVAX. CSL Seqirus is also heavily investing in self-amplifying mRNA technology and expanding manufacturing capabilities to keep pace with growing demand.
History and Evolution
CSL boasts a rich heritage spanning over a century, consistently evolving to meet the most pressing global health challenges. Established initially to serve the health needs of the Australian community, it has grown into a 100-year legacy as a proven pandemic partner.
- Decades of biotherapeutic advancements: The organization has solidified its position through the global expansion of plasma collection networks and continuous innovation in plasma-derived therapies.
- Pioneering vaccines: The company has been at the forefront of vaccine development, producing seasonal influenza vaccines and playing a critical role in pandemic preparedness.
- Strategic Expansion: The acquisition of Vifor Pharma marked a significant milestone, expanding the therapeutic footprint into the nephrology and iron deficiency markets.
- Recent Milestones: In FY2025, CSL achieved a major breakthrough with the approval of ANDEMBRY, the first monoclonal antibody discovered and developed entirely by CSL’s scientists for the treatment of hereditary angioedema (HAE).
Products and Services
The portfolio is highly diversified, addressing rare diseases, complex therapeutic needs, and global immunization requirements. (Note: Specific product revenues are consolidated within segment revenues in the statutory reporting; total segment revenues are provided).
Immunoglobulins (CSL Behring)
Segment Revenue Contribution: Major driver of the US$11.158 billion segment revenue (71.72% of Total Revenue). Providing critical support for patients with serious immunologic and neurologic diseases, including primary and secondary immunodeficiencies (PID/SID) and chronic inflammatory demyelinating polyneuropathy (CIDP). Focus is on improving patient convenience and exploring inhaled immunoglobulins.
Haematology Therapies (CSL Behring)
Targeting bleeding disorders through recombinant coagulation factor medicines and advanced gene therapies to provide long-term bleed protection. Includes treatments for haemophilia A and B, sickle cell disease, and benign haematological conditions.
Transplant and Immunology (CSL Behring)
Addressing high unmet needs in hereditary angioedema (HAE) and conditions that may lead to transplant failure, such as acute graft-versus-host disease (GvHD).
Cardiovascular and Renal Therapies (CSL Vifor)
Segment Revenue Contribution: Drives the US$2.234 billion segment revenue (14.36% of Total Revenue). Addressing end-stage kidney disease (ESKD), intermediate-high risk pulmonary embolism, IgA nephropathy, and anti-neutrophil cytoplasmic antibody (ANCA)-associated vasculitis. Focus is on preserving kidney function and delaying dialysis.
Influenza and Pandemic Vaccines (CSL Seqirus)
Segment Revenue Contribution: Drives the US$2.166 billion segment revenue (13.92% of Total Revenue). Advanced influenza vaccines utilizing proprietary cell-based, adjuvanted, and sa-mRNA technologies to elicit stronger immune responses.
Brand Portfolio
The brand ecosystem represents highly specialized, market-leading therapeutic interventions.
PRIVIGEN & HIZENTRA (CSL Behring)
Leading immunoglobulin therapies utilized globally for the treatment of primary immunodeficiencies and chronic inflammatory demyelinating polyneuropathy.
ANDEMBRY (garadacimab) (CSL Behring)
A first-in-class, internally developed recombinant monoclonal antibody targeting factor XIIa for the prophylactic treatment of hereditary angioedema (HAE). It offers once-monthly dosing and is approved in the US, EU, UK, Japan, Switzerland, Australia, and the UAE.
HEMGENIX (etranacogene dezaparvovec) (CSL Behring)
An innovative, one-time AAV5 gene therapy for adults with haemophilia B, offering long-term bleed protection. It received new registrations in Korea, Saudi Arabia, Hong Kong, Taiwan, and Singapore in FY2025.
FILSPARI (CSL Vifor)
A dual ET & AT antagonist for the treatment of adults with primary IgA nephropathy. It significantly slowed kidney function decline over two years in clinical studies.
TAVNEOS (CSL Vifor)
An oral C5a receptor inhibitor for ANCA-associated vasculitis.
FERINJECT & VELPHORO (CSL Vifor)
Premier therapies in the iron and nephrology portfolio. VELPHORO is used for serum phosphorus control in CKD.
FLUCELVAX & FLUAD (CSL Seqirus)
Differentiated seasonal influenza vaccines. FLUCELVAX leverages cell-based manufacturing, while FLUAD utilizes adjuvant technology for enhanced protection in older adults.
KOSTAIVE (CSL Seqirus)
A self-amplifying mRNA (sa-mRNA) COVID-19 vaccine that received regulatory approval from the European Commission and was launched in Japan.
CELLDEMIC & AUDENZ / INCELLIPAN (CSL Seqirus)
Zoonotic and pandemic influenza vaccines stockpiled for global health preparedness.
Geographical Presence
Operations span across continents, establishing a resilient global supply chain and robust commercial network.
- United States and North America: The largest operational footprint, hosting extensive plasma collection networks (CSL Plasma). Key manufacturing facilities include locations in Kankakee, IL, and Holly Springs, NC.
- Europe: A critical hub for advanced manufacturing, commercial operations, and pandemic preparedness. Major manufacturing sites are located in Bern and St. Gallen (Switzerland), Marburg (Germany), and Liverpool (UK).
- Australia and Asia Pacific: The corporate headquarters are located in Melbourne, Australia. Massive manufacturing infrastructure operates in Broadmeadows, Parkville, and Tullamarine. The commercial footprint extends deeply into Japan, China, Hong Kong, and Taiwan.
Profit and Loss
| Consolidated Statement of Comprehensive Income | 2025 (US$m) | 2024 (US$m) |
| Sales and service revenue | 15,035 | 14,259 |
| Influenza pandemic facility reservation fees | 179 | 172 |
| Royalties and license revenue | 216 | 259 |
| Other income | 128 | 110 |
| Total operating revenue | 15,558 | 14,800 |
| Cost of sales | (7,479) | (7,129) |
| Gross profit | 8,079 | 7,671 |
| Research and development expenses | (1,359) | (1,430) |
| Selling and marketing expenses | (1,616) | (1,573) |
| General and administration expenses | (1,000) | (856) |
| Total expenses | (3,975) | (3,859) |
| Net gain on business disposals | 30 | – |
| Operating profit (EBIT) | 4,134 | 3,812 |
| Finance costs | (448) | (476) |
| Finance income | 38 | 39 |
| Profit before income tax expense | 3,724 | 3,375 |
| Income tax expense | (588) | (661) |
| Net profit for the year | 3,136 | 2,714 |
Balance Sheet
| Consolidated Balance Sheet | 2025 (US$m) | 2024 (US$m) |
| CURRENT ASSETS | ||
| Cash and cash equivalents | 2,157 | 1,657 |
| Receivables and contract assets | 3,141 | 2,895 |
| Inventories | 6,466 | 5,964 |
| Current tax assets | 86 | 126 |
| Assets held for sale | – | 126 |
| Total Current Assets | 11,850 | 10,768 |
| NON-CURRENT ASSETS | ||
| Property, plant and equipment | 8,333 | 8,148 |
| Right-of-use assets | 1,464 | 1,510 |
| Intangible assets | 16,185 | 16,346 |
| Deferred tax assets | 1,091 | 911 |
| Retirement benefit assets | 89 | 18 |
| Other financial assets | 203 | 163 |
| Other non-current assets | 189 | 158 |
| Total Non-Current Assets | 27,554 | 27,254 |
| TOTAL ASSETS | 39,404 | 38,022 |
| CURRENT LIABILITIES | ||
| Trade and other payables | 3,461 | 3,345 |
| Interest-bearing liabilities and borrowings | 804 | 944 |
| Current tax liabilities | 280 | 176 |
| Provisions | 270 | 475 |
| Liabilities held for sale | – | 10 |
| Total Current Liabilities | 4,815 | 4,950 |
| NON-CURRENT LIABILITIES | ||
| Interest-bearing liabilities and borrowings | 10,694 | 11,239 |
| Retirement benefit liabilities | 308 | 282 |
| Deferred tax liabilities | 1,510 | 1,514 |
| Provisions | 155 | 186 |
| Other non-current liabilities | 515 | 450 |
| Total Non-Current Liabilities | 13,182 | 13,671 |
| TOTAL LIABILITIES | 17,997 | 18,621 |
| NET ASSETS | 21,407 | 19,401 |
| EQUITY | ||
| Contributed equity | 574 | 557 |
| Reserves | 1,017 | 794 |
| Retained earnings | 17,744 | 16,012 |
| Equity attributable to shareholders | 19,335 | 17,363 |
| Non-controlling interests | 2,072 | 2,038 |
| TOTAL EQUITY | 21,407 | 19,401 |
Cash Flow
| Consolidated Statement of Cash Flows | 2025 (US$m) | 2024 (US$m) |
| Net cash inflow from operating activities | 3,561 | 2,764 |
| Payments for property, plant and equipment | (636) | (847) |
| Payments for intangible assets | (362) | (409) |
| Net proceeds from business disposals | 180 | – |
| Payments for financial assets | (13) | (3) |
| Payments for other assets | (19) | – |
| Net cash outflow from investing activities | (850) | (1,259) |
| Proceeds from issue of shares | 17 | 40 |
| Dividends paid to CSL Limited shareholders | (1,334) | (1,192) |
| Dividends paid to non-controlling interests | (100) | (74) |
| Proceeds from borrowings | 97 | 2,058 |
| Repayment of borrowings | (832) | (2,017) |
| Principal payments of lease liabilities | (89) | (99) |
| Net cash outflow from financing activities | (2,241) | (1,284) |
| Net increase in cash and cash equivalents | 470 | 221 |
Board of Directors and Leadership Team
- Dr. Brian McNamee AO (Chairman and Independent Non-executive Director): Has deep executive experience in the biopharmaceutical industry. Served as CEO and Managing Director of CSL from 1990 until 2013.
- Dr. Paul McKenzie (CEO and Managing Director): Appointed in March 2023, possessing more than 30 years of global biotechnology leadership experience. Previously served as CSL’s Chief Operating Officer.
- Dr. Megan Clark AC (Independent Non-executive Director): Chair of the Human Resources and Remuneration Committee. Has broad strategic perspective across scientific research, health, and investment banking.
- Professor Andrew Cuthbertson AO (Independent Non-executive Director): Chair of the Innovation and Development Committee. Former Director of Research at CSL with over 35 years’ experience in medical research.
- Dr. Brian Daniels (Independent Non-executive Director): Joined in December 2024. Partner at 5AM Ventures with over 30 years of clinical development and commercialization experience.
- Ms. Carolyn Hewson AO (Independent Non-executive Director): Chair of the Corporate Governance and Nomination Committee. Former investment banker with extensive financial markets expertise.
- Ms. Samantha Lewis (Independent Non-executive Director).
- Ms. Marie McDonald (Independent Non-executive Director).
- Ms. Elaine Sorg (Independent Non-executive Director): Joined the Board on 1 September 2024.
- Ms. Alison Watkins AM (Independent Non-executive Director).
- Mr. Cameron Price (Independent Non-executive Director): Effective October 2025.
- Joy Linton (Chief Financial Officer).
- Andy Schmeltz (Executive Vice President, CSL Behring).
- Dave Ross (Senior Vice President and General Manager, CSL Seqirus).
- Kate Priestman (Chief Corporate & External Affairs Officer).
Subsidiaries, Associates, Joint Ventures
CSL operates a vast network of global entities. Key wholly-owned (100%) and majority-owned entities include:
Wholly-Owned (100%) Entities:
- CSL Innovation Pty Ltd (Australia)
- CSL Behring (Australia) Pty Ltd (Australia)
- Seqirus Pty Ltd (Australia)
- CSL Behring GmbH (Germany)
- CSL Behring AG (Switzerland)
- Vifor (International) AG (Switzerland)
- CSL Behring Holdings Limited (UK)
- CSL Plasma Inc. (USA)
- Seqirus Inc. (USA)
- Vifor Pharma, Inc. (USA)
- CSL Behring Kft. (Hungary)
- Vifor France S.A.S. (France)
- CSL Behring S.A. (Argentina)
Majority-Owned Entities:
- Cervax Pty. Limited: 74% (Australia)
- Vifor Fresenius Medical Care Renal Pharma AG: 55% (Switzerland) – Represents a participating entity of a joint venture that is consolidated in the Group’s financial information.
- Vifor Fresenius Medical Care Renal Pharma UK Limited: 55% (UK)
- Vifor Fresenius Medical Care Renal Pharma España, S.L.: 55% (Spain)
- Vifor Fresenius Medical Care Renal Pharma France S.A.S.: 55% (France)
- Vifor Fresenius Medical Care Renal Pharma Italia S.r.l.: 55% (Italy)
Other Investments
- Equity investments measured through OCI: Reflected in the consolidated statement of comprehensive income, generating a fair value change of US$19 million in FY2025. Detailed specific minority holdings below 20% are held within the overarching financial assets portfolio but are not individually itemized by entity name in the core disclosure statement.
Physical Properties
- Bern, Switzerland: CSL Behring manufacturing facility.
- Broadmeadows, Australia: CSL Behring manufacturing facility. Winner of the 2025 ISPE Facility of the Year Award for its “Project Aurora.”
- Marburg, Germany: CSL Behring manufacturing facility.
- Kankakee, IL, US: CSL Behring manufacturing facility.
- Holly Springs, NC, US: CSL Seqirus manufacturing facility.
- Liverpool, UK: CSL Seqirus manufacturing facility.
- Parkville, Australia: CSL Seqirus manufacturing facility.
- Tullamarine, Australia: CSL Seqirus manufacturing facility.
- St. Gallen, Switzerland: CSL Vifor manufacturing facility (“Multicube” site).
Founders
CSL’s activities were originally carried out within the Commonwealth Department of Health in Australia until the establishment of the Commonwealth Serum Laboratories. The enterprise traces its lineage back over 100 years, established to serve the health needs of the community.
Parent
CSL Limited is the ultimate controlling entity and parent company for the global consolidated group.
Investments and Capital Expenditure Plans
- R&D Spending: US$1.359 billion allocated to research and development in FY2025. CSL is consolidating its R&D sites to create 6 anchor sites in the US, UK, Switzerland, and Australia to increase productivity and drive innovation.
- Capital Expenditure (Payments for property, plant and equipment): US$636 million utilized to expand manufacturing footprints, including the state-of-the-art “Multicube” expansion for CSL Vifor in St. Gallen.
- Sustainability Investments: A Renewable-linked Power Purchasing Agreement covers all Australian sites, moving them to renewable electricity. 37% of global electricity is now sourced from renewables.
Shareholding Pattern
- HSBC Custody Nominees (Australia) Limited: 166,361,570 units (34.36%)
- J P Morgan Nominees Australia Pty Limited: 83,504,097 units (17.25%)
- Citicorp Nominees Pty Limited: 49,704,198 units (10.26%)
- BNP Paribas Nominees Pty Ltd: 11,954,183 units (2.47%)
- National Nominees Limited: 5,141,190 units (1.06%)
Future Strategy
- Strategic Demergers: The Board is actively pursuing the proposal to demerge CSL Seqirus as a substantial ASX-listed entity to provide autonomy and focus on core capabilities.
- Portfolio Development: Driving growth through closer collaboration between R&D, business development, and commercialization teams. Focus remains on five core therapeutic areas where CSL is uniquely positioned.
- Operational Excellence: Integrating the commercial and medical functions of the Behring and Vifor businesses, while accelerating enterprise initiatives across a smaller number of sites with fewer layers of management.
Key Strengths
- End-to-End Plasma Leadership: CSL operates 342 specialized raw material collection centers globally, integrating plasma collection with advanced fractionation and distribution.
- Proprietary Innovation: Groundbreaking development of first-in-class therapies, such as the internally developed monoclonal antibody ANDEMBRY.
- Pandemic Preparedness: Exclusive agreements with over 30 governments, cementing CSL’s role as a trusted partner in global health security.
- Financial Robustness: US$3.561 billion in operating cash flow allows for aggressive reinvestment into R&D and capital infrastructure without straining the balance sheet.
Key Challenges and Risks
- Product Innovation and Competition: Rapidly evolving disruptive therapies, such as gene and cell therapies, threaten to alter the demand and economics of traditional plasma-derived treatments.
- Supply, Capacity, and Operations: The 9-12 month manufacturing cycle of plasma therapies makes the supply chain highly sensitive to disruptions.
- Market Access and Pricing: Navigating strict pricing and reimbursement appraisals by global health authorities, particularly in light of macroeconomic pressures and potential tariff implementations in the US.
- Cybersecurity: Safeguarding sensitive personal and clinical data against sophisticated cyber threats.
Conclusion and Strategic Outlook
CSL Limited delivered a highly resilient financial performance in FY2025, achieving US15.558billioninoperatingrevenueandgeneratingoverUS3.5 billion in operational cash flow. Driven by a laser-focused strategy on its core therapeutic areas and the successful rollout of innovative treatments like ANDEMBRY and HEMGENIX, the company is strategically positioning itself for the next decade. The proposed demerger of the CSL Seqirus business reflects a bold step toward operational agility. With substantial investments in R&D and a deep commitment to sustainable practices, CSL’s overarching outlook remains highly optimistic, defined by durable financial returns and an enduring impact on global public health.
FAQ Section
What is CSL Limited’s primary business focus? CSL develops and delivers innovative medicines for rare and serious diseases, utilizing expertise in plasma fractionation, recombinant technologies, vaccines, and genetic medicine.
How much was invested in Research & Development in 2025? The company invested US$1.359 billion in R&D to advance its therapeutic pipeline.
What is the strategic purpose behind the proposed CSL Seqirus demerger? The demerger aims to allow both the core CSL business and Seqirus to pursue independent growth strategies, providing autonomy and streamlining organizational complexity.
How does CSL Behring source its plasma? The company operates CSL Plasma, one of the world’s largest and most sophisticated collection networks, utilizing advanced technologies like the Rika Plasma Donation System to optimize yield.
What were the financial highlights for FY2025? Total operating revenue reached US15.558billion,withanetprofitofUS3.136 billion and cash flow from operations totaling US$3.561 billion.
Official Site: https://www.csl.com/
Source: Content on FirmsWorld.com is based on publicly available corporate filings, regulatory disclosures, annual reports, SEC 10-K filings, investor relations materials, and, where applicable, direct communications with the company.
