Lonza Sees Flat Sales in 2024
By Adria Calatayud
Lonza Group said it expects sales growth to be flat in 2024, after it reported sharply lower earnings despite higher revenue for last year due to continued investments.
The Swiss life-sciences company said Friday that it anticipates sales at constant exchange rates to be flat this year compared with 2023, and a core earnings before interest, taxes, depreciation and amortization margin in the high twenties range.
For 2023, Lonza reported a net profit of 655 million Swiss francs ($755.5 million) compared with CHF1.22 billion a year before.
Sales climbed 7.9% to CHF6.72 billion, with rises in biologics and small molecules offsetting a decline in its capsules-and-health ingredients segment.
Core Ebitda was up 0.2% to CHF2.0 billion with a margin of 29.8%, down from 32.1%.
The company said it intends to propose an increase in its dividend to CHF4 a share from CHF3.50, while it continues to execute a share buyback of up to CHF2 billion that it expects to complete in the first half of 2025.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
January 26, 2024 01:35 ET (06:35 GMT)
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