Brief: Synlab Expects AEBITDA Margin To Be Within Range Of 17-18% In 2024

Synlab AG

25/03/2024 06:07

March 25 (Reuters) - SYNLAB AG  SYAB.DE :
    * ADJUSTED NET DEBT AT EUR 1.3 BILLION AT END OF DECEMBER
2023
    * FOR 2024 SYNLAB EXPECT REVENUES OF AROUND EUR 2.7 BILLION
(AT
CURRENT PERIMETER) WITH AN UNDERLYING ORGANIC GROWTH AROUND 4%
    * Q4 2023 AEBITDA WAS EUR 110 MILLION (Q4 2022: EUR 90
MILLION)
AND AOP WAS EUR 45 MILLION (Q4 2022: EUR 21 MILLION) WITH
MARGINS OF 17.0% (Q4 2022: 12.9%) AND 6.9% (Q4 2022: 3.0%),
RESPECTIVELY.
    * AEBITDA MARGIN IS EXPECTED TO BE WITHIN RANGE OF 17-18% IN
2024
    * Q4 AEBITDA MARGIN AT 17.0%
    * WILL CONTINUE IN 2024 ITS BOLT-ON M&A STRATEGY WITH AN
EXPECTED
EV SPEND TO BE WITHIN RANGE OF EUR 50 MILLION TO EUR 100 MILLION
    * FX IMPACT ON REVENUE WAS (0.3)% IN 2023, MAINLY RESULTING
FROM
WEAKNESS OF GBP AND VARIOUS EMERGING COUNTRIES' CURRENCIES
    * Q4 SAW REVENUES OF EUR 645 MILLION (Q4 2022: EUR 701
MILLION)
INCLUDING ONLY EUR 5 MILLION FROM COVID-19 TESTING
    * YEAR-ON-YEAR REDUCTION IN AEBITDA MARGIN WAS STILL MAINLY
DRIVEN
BY REDUCTION OF VOLUMES AND PRICES DERIVED FROM COVID-19 TESTING
AND STRONG INFLATIONARY ENVIRONMENT
    * SYNLAB HELD EUR 221 MILLION IN CASH AT END OF DECEMBER
2023
    * Q4 ADJUSTED NET PROFIT (GROUP SHARE) AT 7.7 EUR MILLION

Source text for Eikon:  ID:nEQ4mSnTwa 
Further company coverage:  SYAB.DE 

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