Lonza Shares Rise After Company Backs Outlook

By Nina Kienle

Lonza shares rose on Thursday after the Swiss life-sciences company backed its full-year outlook, and posted revenue figures for the first six months in line with consensus expectations.

At 0749 GMT, shares rose 7.1% at CHF559.80.

Lonza posted revenue at 3.06 billion Swiss francs ($3.46 billion), in line with company provided consensus estimate of CHF3.08 billion.

"The revenue performance in Biologics and Cell and Gene Therapy, in particular, as well as the better margins, will be taken well by the market this morning, in our view," RBC Capital Markets analysts said in a research note to clients.

The company confirmed its targets of flat sales growth for the full year at constant currency and a core earnings before interest, taxes, depreciation and amortization margin in the high 20s. It also confirmed its midterm 2024 to 2028 guidance.

It comes despite Ebitda dropping on year to CHF862 million from CHF899 million and revenue remaining largely flat, declining by 0.7% compared with the same period the prior year.

Write to Nina Kienle at nina.kienle@wsj.com

(END) Dow Jones Newswires

July 25, 2024 04:07 ET (08:07 GMT)

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