Galenica reported strong FY21 consensus-beating profit numbers. EBIT was up 26.4% to CHF213.1m, driven by the encouraging growth in both the operating segments. However, the profit growth benefited from pandemic tailwinds as well as a one-off gain on the sale of property. While the performance was encouraging, the FY 22 outlook was softer than expected, hurt by unwinding pandemic tailwinds and a slower pick-up in high frequency pharmacies. We will trim our estimates to factor in the soft outlook ....
08 Mar 2022
Strong finish to FY 21 makes way for uncertain 2022
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Strong finish to FY 21 makes way for uncertain 2022
Galenica reported strong FY21 consensus-beating profit numbers. EBIT was up 26.4% to CHF213.1m, driven by the encouraging growth in both the operating segments. However, the profit growth benefited from pandemic tailwinds as well as a one-off gain on the sale of property. While the performance was encouraging, the FY 22 outlook was softer than expected, hurt by unwinding pandemic tailwinds and a slower pick-up in high frequency pharmacies. We will trim our estimates to factor in the soft outlook ....