Lonza clearly managed expectations on the 2018 business development front and also on the unchanged dividend for 2018. We are quite happy with the reported real-world figures, despite giving a mixed dispersion pattern (top-line: far higher; EBITDA: lower; EBIT: as expected). Consensus, based on core figures, was broadly met. However, Lonza is starting to become less transparent due to the termination of qualitative business updates, which we do not appreciate.
30 Jan 2019
Good in 2018, but quite moderate into 2019
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Good in 2018, but quite moderate into 2019
Lonza Group AG (0QNO:LON) | 0 0 0.0% | Mkt Cap: 22,735m
- Published:
30 Jan 2019 -
Author:
Martin Schnee -
Pages:
3
Lonza clearly managed expectations on the 2018 business development front and also on the unchanged dividend for 2018. We are quite happy with the reported real-world figures, despite giving a mixed dispersion pattern (top-line: far higher; EBITDA: lower; EBIT: as expected). Consensus, based on core figures, was broadly met. However, Lonza is starting to become less transparent due to the termination of qualitative business updates, which we do not appreciate.