Synlab up on strong results, outlook hike driven by COVID testing

Synlab AG

16/03/2022 07:57

** Shares in Synlab  SYAB.DE  are seen 6.1% up in early
Frankfurt trade after the German medical company published
annual results above its own guidance  urn:newsml:reuters.com:*:nASM0003RJ  urn:newsml:reuters.com:*:nL5N2VJ153
    ** Revenue increased by 44% to 3.76 billion euros ($4.12
billion) in 2021, while adj. EBITDA rose 78% to 1.21 billion
euros, significantly besting the previous forecasts of 3.5
billion and 1 billion, respectively
    ** The company sold more than 35 million COVID-19 tests
during the year, which brought in 1.56 billion euros alone
    ** Synlab also hikes in its 2022 revenue guidance to 3
billion euros vs. 2.9 billion euros previously
    ** "We expect the better than expected Q4 results and the
raising of 2022 revenue guidance (and reiteration of margin
targets) should see the shares outperform today by 2-3%" -
JPMorgan
    ** Synlab is seen at the top of the German small-cap index
 .SDAXI 

($1 = 0.9122 euros)

 (Reporting by Alexander Kloss)
 ((alexander.kloss@thomsonreuters.com))