Brief: Bio-Works Technologies Sees Signs For Recovery In H2

Bio-Works Technologies AB

18/08/2023 07:47

Aug 18 (Reuters) - Bio-Works Technologies AB
 BIOWKS.ST :
    * FROM A REGIONAL PERSPECTIVE, NORTH AMERICAN AND EUROPEAN
MARKETS
BOTH GREW OVER 30%
    * ASIA DECLINED DURING PERIOD,  PRIMARILY DUE TO A SMALL
NUMBER OF
LARGE CUSTOMERS WITH STOCHASTIC ORDERING PATTERNS.
    * FOLLOWING A PERIOD OF REMARKABLE GROWTH, ENTIRE
BIOPROCESSING
MARKET HAS FACED HEADWINDS DURING FIRST HALF
    * MANY LARGE PHARMA COMPANIES ARE RIGHT-SIZING INVENTORIES
AFTER A
PERIOD OF INCREASED STOCKING LEVELS
    * SIGNIFICANTLY WEAKER CAPITAL MARKET FOR OUR CUSTOMERS.
    * LOW ROUNDS OF PRIVATE FINANCING AND A LARGELY UNREWARDING
PUBLIC
MARKET HAVE PUT A HOLD ON MANY CLINICAL PROJECTS
    * LESS CLINICAL MANUFACTURING MEANS LESS SCALE-UP ACTIVITIES
AND A
WEAKER DEMAND FOR RAW MATERIALS, SUCH AS CHROMATOGRAPHY RESINS.
    * THERE ARE SIGNS THAT SECOND HALF OF 2023 COULD LAY
FOUNDATION
FOR AN INDUSTRY-WIDE RECOVERY.
    * WEAKER DEMAND IS REFLECTED IN OUR ORDER INTAKE WHICH WAS
DOWN
28% COMPARED TO SAME PERIOD LAST YEAR

Source text for Eikon:  ID:nMFN7xqDVr 
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