Norway's ArcticZymes Q3 revenue rises on Biomanufacturing growth

Arcticzymes Technologies ASA

Yesterday 06:11

Overview
Norway enzyme maker's Q3 revenue rose 15% yr/yr, led by Biomanufacturing sales
Q3 EBITDA declined yr/yr, impacted by currency movements
Company launched first RNA medicine products after quarter, expanding into new market

Outlook
Company aims to deliver sustainable double-digit growth from existing and new enzyme markets
Priorities include scaling Biomanufacturing, expanding Asia-Pacific distribution, and developing RNA enzyme portfolio
Company remains mindful of geopolitical and macroeconomic risks, including currency volatility and trade policy

Result Drivers
BIOMANUFACTURING GROWTH - Biomanufacturing sales rose 44% yr/yr, with sales to contract drug manufacturers more than doubling, driven by increased use of enzymes in new medicine production
MOLECULAR TOOLS ORDER TIMING - Molecular Tools revenue fell 8% yr/yr in Q3, mainly due to some customer orders moving into the fourth quarter
CURRENCY IMPACT - Weaker US dollar and euro against the Norwegian krone reduced reported Q3 sales and EBITDA

Company press release: ID:nWkr6KDQ0L

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
NOK 32.90 mln
 
Q3 EBITDA
 
NOK 3.10 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the pharmaceuticals peer group is "buy"
Wall Street's median 12-month price target for Arcticzymes Technologies ASA is NOK26.00, about 23.8% above its November 4 closing price of NOK21.00
The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 43 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)