Bachem falls after 'very weak' H1, FY outlook miss expectations

BACHEM HOLDING AG

25/08/2022 09:23

** Shares in Bachem  BANB.S  slide 2.6% after the Swiss
biotech supplier's H1 results and FY outlook missed expectations
    ** "Bachem released very weak 1H22 results, which met
neither market expectations nor our clearly lower estimates,"
Vontobel says, adding that the 2022 outlook is also below its
expectations
    ** Baader Helvea flags Bachem reported lower than expected
sales, with margins reducing "even more" than the broker had
anticipated to 28.7% (vs. 29.1%) for EBITDA and 22% (vs. 22.4%)
for EBIT
    ** Bachem's H1 sales of CHF 234.9 mln were down 1.8% yoy,
while H1 EBITDA and EBIT fell by 10.8% and 16.8% to CHF 67.3 mln
and CHF 51.6 mln respectively  nFWN30036K  
    ** The company sees FY sales to grow in a medium to high
single-digit percentage range, with stable EBITDA and EBIT
margins compared to the previous year
    ** The stock is among worst performers on Swiss mid-cap
index  .SMIM 
        
    
    ($1 = 0.9623 Swiss francs)

    

    

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))