Galenica reported softer than expected FY22 earnings, sending the stock 2.1% lower at pixel time.
FY22 adjusted EBIT came in at CHF 200.8m with the margin at 5%. In spite of the earnings miss, the firm raised the FY22 dividend by 5% to CHF 2.2/share.
For 2023, the firm expects both top-line and EBIT growth of 3-6%, implying 1.5%/1.75% downside vs AV/consensus, respectively.
We do not expect significant changes to our estimates and re-iterate our cautious stance.
07 Mar 2023
Light FY 22 earnings and a soft FY 23 outlook disappoint investors
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Light FY 22 earnings and a soft FY 23 outlook disappoint investors
Galenica reported softer than expected FY22 earnings, sending the stock 2.1% lower at pixel time.
FY22 adjusted EBIT came in at CHF 200.8m with the margin at 5%. In spite of the earnings miss, the firm raised the FY22 dividend by 5% to CHF 2.2/share.
For 2023, the firm expects both top-line and EBIT growth of 3-6%, implying 1.5%/1.75% downside vs AV/consensus, respectively.
We do not expect significant changes to our estimates and re-iterate our cautious stance.