Lonza Backs View Despite Earnings Slip
By Pierre Bertrand
Lonza backed its outlook for the year despite posting a fall in earnings for the first six months.
The Swiss life-sciences company reported 862 million Swiss francs ($973.8 million) in earnings before interest, taxes, depreciation and amortization, compared with CHF899 million a year ago.
Core Ebitda fell 3.1% to CHF893 million, the company said.
Revenue remained largely flat, declining by 0.7% to CHF3.06 billion. At constant currency, however, sales grew 1.8%, the company said Thursday.
Lonza said that although its first-half result was driven by good momentum at its biologics business, growth was partly offset by lower demand in the capsules business.
The company confirmed its outlook for 2024, including flat sales growth at constant currency, and a core Ebitda margin in the high 20s.
Lonza also confirmed its midterm 2024-28 guidance.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
July 25, 2024 01:31 ET (05:31 GMT)
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