Synlab falls after Q3 profit miss

Synlab AG

10/11/2022 07:58

** Shares in Synlab  SYAB.DE  fall around 6% in early
Frankfurt trade after the German laboratory services group's
profit missed expectations
    ** "Q3 revenues were in line, but adj EBITDA came in 5.6%
below" J.P.Morgan says
    ** JPM notes the company's 2023 guidance suggests about 3%
upside to revenues, but lower margins as the COVID-19 revenues
decrease and cost inflation continues to be a headwind
    ** "Old medium-term outlook has looked for 21-23% margin but
was already questioned by company and capital market," a local
trader says, adding the company's EBITDA missed expectations
with 135 mln euros vs. 148 mln euros expected
    ** The stock is at the bottom of Germany's small-cap
index .SDAXI 
    ($1 = 0.9994 euros)
 (Reporting by Ozan Ergenay)
 ((ozan.ergenay@thomsonreuters.com))