(News Bulletin 247) – Euroapi fell sharply on the stock market on Wednesday after reporting an annual turnover lower than its objectives and having adjusted its medium-term outlook.
The manufacturer of active pharmaceutical ingredients reported this morning a turnover up 8.5% for the 2022 financial year, to 976.6 million euros.
This performance is below the target of approximately 980 million euros, revised downwards, that the group had communicated at the end of last year.
Its ‘core’ EBITDA result also increased by 8.5% to 120 million euros, giving an operating margin of 12.3% in line with its forecast of a ‘core’ EBITDA margin of between 12% and 13 %.
Euroapi – which suffered from the suspension of production at its Budapest site – posted an operating loss of 0.8 million euros and a loss of 15 million euros over the past financial year.
Citing a “volatile and uncertain” macroeconomic context, the former subsidiary of Sanofi says it anticipates growth in its turnover this year of between 7% and 8%, for a “core” EBITDA margin of between 12% and 14 %.
The company has also adjusted its medium-term outlook, which now shows a revenue growth target of between 7% and 8% on average over the period 2023-20262 (compared to 6%-7% between 2021 and 2025).
The group – which expected to generate a ‘core’ EBITDA margin of more than 20% in 2025 – specifies that this figure will not ultimately be reached before 2026.
For 2025, he says he is aiming for a margin above 18%.
Following all these announcements, the title fell 19% on Wednesday morning on the Paris Stock Exchange. It has only posted a modest increase since its IPO last June.
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