Guerbet shares rose by more than 5% on the Paris Bourse on Thursday, following the presentation of better-than-expected full-year results for 2023.

At around 12:00 pm, shares in the medical imaging specialist were up 5.4%, one of the strongest performers in the CAC Mid & Small index.

The contrast agent manufacturer reported operating profit (Ebitda) of €103.1 million last year, compared with €98.8 million in 2022, on sales up 5.9% to €785.7 million.

Profitability exceeds the stated target, with an adjusted Ebitda margin of 13.1%, above the announced target of around 11%

Having largely achieved its sales and profitability targets for 2023, the Group says it is approaching the 2024 financial year with increased confidence.

In this context, Guerbet confirms that it anticipates sales growth in excess of 8% on a like-for-like basis and at constant exchange rates this year, for an adjusted Ebitda margin at a higher level than in 2021 (14.4%).

Lastly, its free cash flow (FCF) is expected to be in positive territory for the full year.

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