PolyPeptide falls on earnings slump, outlook cut as costs bite

PolyPeptide AG

19/08/2022 10:32

** Shares of PolyPeptide  PPGN.S  slide 9.4% after the Swiss
firm reports a nearly 40% drop in H1 earnings and cuts 2022
outlook on soaring costs  urn:newsml:reuters.com:*:nASM000O1G
    ** The group, which makes proprietary and generic peptides
for pharma and biotech companies, reports H1 EBITDA of 26.7
million euros ($26.93 million) vs 43.2 million in the same
period last year
    ** It sees revenue growth of 8-10% in 2022 vs earlier
guidance of 12-14%, and EBITDA margin of 22-25% against 30%
previously, citing inflationary cost pressures and higher raw
material and energy prices
    ** "Despite significant consensus revision, actual figures
still below," comments Baader Helvea, which had expected EBITDA
of 29.1 million euros

($1 = 0.9914 euros)

 (Reporting by Anastasiia Kozlova)
 ((Anastasiia.Kozlova@thomsonreuters.com))