SIEGFRIED HOLDING AG Siegfried delivers strong sales growth and profitability
H1 Results 2023
Zofingen, 17 August 2023
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Siegfried delivers strong sales growth and profitability in the first half of 2023
- resilient and well-diversified business portfolio
- Net sales up to CHF 607.1 million (prior year CHF 586.7 million), an increase of 6.8% in LC (3.5% in CHF) - underlying business with double-digit percentages growth (in LC)
- Core EBITDA of CHF 125.7 million (prior year CHF 130.2 million) at a margin of 20.7% (prior year 22.2%)
- Core net profit of CHF 58.9 million (prior year CHF 65.2 million)
- Strategy EVOLVE well on track:
- Significant investments in existing network to enable future growth
- Entry into cell & gene therapy (CGT) through acquisition of DiNAMIQS to create additional opportunities in a high-growth CDMO segment
Outlook increased for full year 2023: Siegfried now expects mid single-digit percentages sales growth (in LC) with a Core EBITDA margin above 20%
3 | | Siegfried - H1 2023 |
Financial Update
4 | | Siegfried - H1 2023 |
Strong growth: Delivered
Despite phasing out of vaccines business
Net sales split H1 2023
Change H1 2022 - H1 2023
CHF million
Drug Substances
Drug Products
Total
H1 2023
398.5
208.6
607.1
H1 2022
339.5
247.2
586.7
Change
+17.4% (+20.2% in LC)
-15.6%(-11.7% in LC)
+3.5% (+6.8% in LC)
34.4% 65.6%
Drug Products | Drug Substances |
Note: Net sales split H1 2022: 42.1% Drug Products, 57.9% Drug Substances
- Net sales grew by 6.8% in Local Currencies (LC), strong FX headwind across all currencies
- 30% sales recorded in CHF, 58% in EUR, 11% in USD
- Strong development of underlying business
5 | | Siegfried H1 2023 |
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Siegfried Holding AG published this content on 17 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 August 2023 07:11:03 UTC.
