Strong beat in sales and margins
Sales grew 19% in Q3 with 2 clear drivers: the strong contribution of Becat (+66% growth vs Q2 19) and the positive toll manufacturing business (+48%). A better mix, with higher toll manufacturing sales and price increases in heparins (mainly in hospitals), drove an increase in gross margin above our expectations (56.6% vs 55.4%). EBITDA grew 30% and NP +18%. The only ''negative'' in the results came from FCF. This was down to higher capex on the new heparin fac ....
05 Nov 2020
Strong beat, waiting on Moderna
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Strong beat, waiting on Moderna
- Published:
05 Nov 2020 -
Author:
Ruiz Francisco FR -
Pages:
7
Strong beat in sales and margins
Sales grew 19% in Q3 with 2 clear drivers: the strong contribution of Becat (+66% growth vs Q2 19) and the positive toll manufacturing business (+48%). A better mix, with higher toll manufacturing sales and price increases in heparins (mainly in hospitals), drove an increase in gross margin above our expectations (56.6% vs 55.4%). EBITDA grew 30% and NP +18%. The only ''negative'' in the results came from FCF. This was down to higher capex on the new heparin fac ....