Regulated information
Nazareth (
Key Highlights
- Organic revenue growth of 6.9% at CER with total revenue growth of 10.9% at CER (18.8% reported) to €328.6 million
- Revenue development in EMEA stabilizing; steady revenue growth in
Latin America and very strong performance inNorth America - REBITDA increased by 13.1% to €63.3 million with a margin of 19.3%
- Free cashflow increased by 44.3% to €31.9 million
- Earnings per share increased by 29.7% to €0.48
- Four acquisitions completed in the period followed by the 503B facility in
Boston in July - Leverage ratio of 2.2x provides sufficient headroom to capture future opportunities
- Solid progress on our sustainability agenda with 21.5% reduction of greenhouse gas intensity compared to 2019
- Excluding the impact of the
Boston acquisition, the FY 2022 revenue expectation increased to between €670 and €690 million with higher REBITDA margin in H2 compared to H1
“Our strong focus on execution continued to deliver excellent results in the first half of 2022, despite the challenging macroeconomic environment, with turnover increasing 10.9% at constant exchange rates and growth across all regions, specifically in the US. The sustained commercial momentum and broad-based growth in each region reflects continued strong customer demand across the attractive growth markets we serve. REBITDA increased 13.1%, and as a percentage of turnover decreased 90bps to 19.3%, mainly due to delays in the passing on of cost increases in certain countries in EMEA and increased competition in
We remain committed to ensuring quality across all our operations, especially in light of the communication from the FDA regarding the
We have also progressed our buy & build acquisition strategy with the addition of Letco (US), Pharma-pack (
Another area of key focus for us is driving operational excellence, and to this end I am delighted to welcome
For the second half of the year, we expect continued strong revenue growth and our profitability to improve compared to the first half of the year excluding the temporary dilutive impact of the
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