Euroapi tracks best day ever after H1 EBITDA beat, revenue outlook reiteration

Euroapi SA

01/08/2023 10:10

** Shares in Euroapi  EAPI.PA  rise 9.6% after the French
pharmaceutical company reported a first-half EBITDA beat and
reiterated its revenue guidance
    ** The stock is on track for its best day ever, reversing
course after falling nearly 5% at opening
    ** "The solid performance in 1H 2023 with revenues 1% below
though core EBITDA 7% ahead, together with the guidance
reiteration underpinning consensus should be seen positively,"
J.P. Morgan says
    ** The company's H1 EBITDA comes at 52.1 million euros
    ** Euroapi confirms its 2023 revenue growth outlook of 7-8%
and mid-term outlook
        * It narrows FY core EBITDA margin guidance to between
12.5% and 13.5% from previously expected 12%-14%
  
    ** Euroapi shares debuted in May 2022 after the company spun
off from Sanofi  SASY.PA 

 (Reporting by Olivier Cherfan)
 ((olivier.cherfan@thomsonreuters.com))