Siegfried rises on better-than-expected H1 results

Siegfried Holding AG

22/08/2024 07:27

** Shares in Siegfried Holding  SFZN.S  rise 1.9% in Julius
Baer pre-market trade after the Swiss pharmaceutical company
posted better-than-expected H1 results and confirmed its FY
outlook
    ** Siegfried posted H1 core EBITDA of 132.1 million Swiss
francs ($155.30 million), compared to 125.7 million a year
earlier
    ** "Core EBITDA margin increased to 21.3%, slightly ahead of
expectations despite the high base due to highly profitable
COVID-19 sales in H1 2023 and none in H1 2024," Vontobel says
    ** The broker says that the company's H1 top-line results
came better-than-expected for this year
    ** "Siegfried has gained momentum, the business looks better
and the results are on track and solid," it adds
    ** The stock, which has gained 16.8% YTD, is seen at the top
of Swiss mid-cap index  .SMIM 
    


($1 = 0.8506 Swiss francs)

 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))