Brief: Polypeptide H1 EBITDA At EUR 26.7 Mln (H1 2021: EUR 43.2 Mln)

PolyPeptide AG

19/08/2022 06:09

Aug 19 (Reuters) - POLYPEPTIDE GROUP AG  PPGN.S :
    * POLYPEPTIDE WITH ENCOURAGING PROGRESS WITHIN CUSTOM
PROJECTS
PIPELINE – HOWEVER WITH LOWER PROFITABILITY IN THE FIRST HALF OF
2022
    * H1 REVENUE FELL 3.3 PERCENT TO 133.7 MILLION EUR
    * POLYPEPTIDE WITH ENCOURAGING PROGRESS WITHIN CUSTOM
PROJECTS
PIPELINE - HOWEVER WITH LOWER PROFITABILITY IN FIRST HALF OF
2022
    * H1 ADJUSTED EBITDA1,2 OF EUR 26.7 MILLION (H1 2021: EUR
43.2
MILLION)
    * H1 WITH ADJUSTED EBITDA MARGIN OF 20.0% (32.0%)
    * UPDATED MID-TERM OUTLOOK: BUSINESS EXPECTED TO GROW WITH A
REVENUE CAGR IN LOW-TEENS WITH VARYING GROWTH RATES YEAR-BY-YEAR
AND A CONTINUOUS PROGRESSION OF ADJUSTED EBITDA MARGIN TOWARDS
30%
    * UPDATED GUIDANCE FOR 2022, DRIVEN BY A SHIFT OF A PORTION
OF
CORONAVIRUS PANDEMIC-RELATED BUSINESS ON ORDER FOR H2 INTO 2023
AND BY CONTINUED INFLATIONARY PRESSURE: REVENUE GROWTH NOW
EXPECTED AT BETWEEN 8% TO 10% WITH ADJUSTED EBITDA MARGIN OF
BETWEEN 22% AND 25%
    * H1 CAPITAL EXPENDITURES OF EUR 37.9 MILLION OR 28.4% OF
REVENUE
(EUR 25.0 MILLION OR 18.5% OF REVENUE)
    * POLYPEPTIDE GENERATED EUR 133.7 MILLION OF REVENUE IN
FIRST HALF
OF 2022, REPRESENTING A DECLINE OF 1.1% VERSUS STRONG PERIOD IN
2021
    * FREE CASH FLOW FOR PERIOD AMOUNTED TO EUR -48.9 MILLION,
WITH
NET CASH FLOWS FROM OPERATING ACTIVITIES EXCLUDING CHANGES IN
NET WORKING CAPITAL OF EUR 17.0 MILLION AND NET CASH FLOWS FROM
INVESTING ACTIVITIES OF EUR -41.2 MILLION

Source text for Eikon:  ID:nEQ4QzNDXa 
Further company coverage:  PPGN.S 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))