Brief: Euroapi FY Operating Loss Narrows To 0.8 Million Euros
08/03/2023 06:57
March 8 (Reuters) - Euroapi SAS EAPI.PA :
* FY OPERATING LOSS EUR 0.8 MILLION VERSUS LOSS EUR 12.8
MILLION
YEAR AGO (CONSOLIDATED)
* FY NET LOSS EUR 15.0 MILLION IN 2022
* EUROAPI: FULL-YEAR 2022 RESULTS
* IN CONTEXT OF OVERALL VOLATILE AND UNCERTAIN MACROECONOMIC
ENVIRONMENT, EUROAPI EXPECTS IN 2023:NET SALES TO INCREASE
BETWEEN +7% AND +8%
* OUTLOOK 2023: CORE EBITDA MARGIN BETWEEN 12.0% AND 14.0%
* FY NET SALES EUR 976.6 MILLION, UP 8.5% YOY
* OUTLOOK 2023: CAPEX BETWEEN EUR 120 MILLION TO EUR 130
MILLION
* FY CORE EBITDA EUR 120.0 MILLION, UP 8.5% YOY
* AS WE ARE INVESTING IN ACCELERATING LONG-TERM GROWTH AND
REDUCING OUR DEPENDENCY FROM SANOFI, WE ADJUST OUR MID-TERM
PERSPECTIVES AS FOLLOWS: NET SALES TO INCREASE BETWEEN +7% AND
+8% ON AVERAGE FOR PERIOD 2023-20262(VERSUS. +6% TO +7% FOR
PERIOD 2021-2025)
* FY CAPEX EUR 138.3 MILLION (14.2% OF NET SALES)
* MID-TERM OUTLOOK: CORE EBITDA MARGIN TO EXCEED 20% IN 2026
(VERSUS. IN 2025 INITIALLY EXPECTED) AND IS EXPECTED TO BE ABOVE
18% IN 2025
* MID-TERM OUTLOOK: CAPEX OF EUR 510 MILLION FOR PERIOD
2022-25
(UNCHANGED)
* MID-TERM OUTLOOK: CORE FREE CASH CONVERSION TO BE 50% TO
53% BY
2025 (UNCHANGED)
* TO SUPPORT OUR OVERALL PERFORMANCE, WE ARE ACCELERATING
COMPANY'S TRANSFORMATION WITH EUR 50 MILLION ANNUAL RUN RATE OF
ADDITIONAL VALUE CREATION EXPECTED TO BE DELIVERED BY 2026
* FY GROSS PROFIT WAS EUR 176.9 MILLION, UP 15.3% YOY
* FY EBITDA WAS EUR 93.7 MILLION VERSUS EUR 102.8 MILLION IN
2021
* UPDATE ON TEMPORARY SUSPENSION OF PROSTAGLANDIN PRODUCTION
IN
BUDAPEST: RESIDUAL IMPACT IN 2023 IS EXPECTED TO WEIGH ABOUT 110
BASIS POINTS ON CORE EBITDA
* CORE FREE CASH FLOW LOSS EUR 54.2 MILLION IN 2022 VERSUS
EUR
79.8 MILLION IN 2021 (RESTATED)
* AT END-DEC 2022, NET DEBT POSITION WAS LOSS EUR 25.6
MILLION
Source text for Eikon: ID:nBw1LXdmca
Further company coverage: EAPI.PA
(Gdansk Newsroom)
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