Date | | | March 7, 2024 | ||||||
Location | | | Zurich / Zoom Call | ||||||
Name | | | Thomas Meier, Alain Schaffter | ||||||
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2 Bachem FY Results 2023
3 Bachem FY Results 2023
01
02
Full Year Results 2023 - Thomas Meier
Financial Review 2023 - Alain Schaffter
03 Outlook 2024 - Thomas Meier
04 Q & A - all
4 Bachem FY Results 2023
Thomas Meier
5 Bachem FY Results 2023
Sales
- Sales of CHF 577.3m (+8.6%).
- Local currency increase +12.8%.
- Strong H2/23 with CHF 337.5m (+13.7% against H2/22).
- Key drivers CMC development (petides & oligonucleotides) and commercial peptides.
Capacity
- Building K commissioning and start up in H2/24.
- Additional equipment building G to support key accounts during 2024.
- Sisslerfeld: site development plan handed in
- 2 006 full-time equivalent employees (+230).
Profitability
- EBITDA CHF 166.7m / margin 28.9% (29.1% adjusted).
- Local currencies EBITDA margin 30.5%.
- Proposal to increase dividend to CHF 0.80 per share (increase of CHF 0.05).
Portfolio
- CMC pipeline with 162 NCEs.
- Includes several new NCEs despite biotech funding environment.
6 Bachem FY Results 2023
in CHF million | 2023 | Change in CHF | Change in | Sales share |
local currency | ||||
Research & Specialties | 40.8 | - 13.5% | - 10.4% | 7.1% |
CMC Development | 227.5 | + 22.4% | + 27.7% | 39.4% |
309.0 | ||||
Commercial API | + 3.4% | + 7.1% | 53.5% | |
Total sales | 577.3 | + 8.6% | + 12.8% | 100.0% |
7 Bachem FY Results 2023
Commercial API:
- Originator peptides, including first sales from strategic long-term customers.
- Generic peptides.
CMC development:
- Strong peptide project landscape.
- Strong oligonucleotide development growth.
Commercial API:
- Lower commercial oligonucleotide sales.
- Reduced demand for small molecule generics.
Research & Specialties
- Tight capacity for small-scalenon-medical projects due to high API demand.
8 Bachem FY Results 2023
Tailwinds
+8.6%
HEADWINDS
+13.7%
338
297 | ||
264 | ||
239 | 235 | 240 |
225 | ||
179177
135
2019 | 2020 | 2021 | 2022 | 2023 |
H1 sales H2 sales
9 Bachem FY Results 2023
Sales distribution by customer tiers in % of sales
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2019 | 2020 | 2021 | 2022 | 2023 |
Top 5 Top 6-10 Top 11-15 Other
10 Bachem FY Results 2023
Top 10 customers c. 63% of sales
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Disclaimer
Bachem Holding AG published this content on 07 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 March 2024 05:33:08 UTC.