Eurofins Scientific reported strong H1 FY20 results with a resilient top-line and a significant improvement in profit margins. Moreover, the robust FCF generation and equity issuance proceeds helped the group to cut its leverage considerably and move forward its 2.5x net debt / adjusted EBITDA target by a year to the end of FY20. Also, as management expects robust demand for the COVID-19 testing over the coming few months, it has maintained its FY20 revenue and adjusted EBITDA targets.
07 Aug 2020
Healthy H1 FY20 results; momentum expected to continue
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Healthy H1 FY20 results; momentum expected to continue
Eurofins Scientific SE (ESF:WBO) | 0 0 1.6% | Mkt Cap: 8,723m
- Published:
07 Aug 2020 -
Author:
Mohit Rathi -
Pages:
3
Eurofins Scientific reported strong H1 FY20 results with a resilient top-line and a significant improvement in profit margins. Moreover, the robust FCF generation and equity issuance proceeds helped the group to cut its leverage considerably and move forward its 2.5x net debt / adjusted EBITDA target by a year to the end of FY20. Also, as management expects robust demand for the COVID-19 testing over the coming few months, it has maintained its FY20 revenue and adjusted EBITDA targets.