By Cecilia Butini
Shares in Siegfried Holding rose in early trading on Thursday after the company lifted its guidance for 2023 following higher sales in the first half of the year.
At 0909 GMT, shares traded 3.4% higher at CHF760.50
The Switzerland-based life-sciences company guided for full-year sales growth at constant currency in the mid-single percentage digits. A previous forecast saw growth in a range of low-to-mid single digits. Margin on core earnings before interest, taxes, depreciation and amortization is expected to be above 20%, against a previous forecast of a margin at 20% or above, the company said.
To analysts at Baader Helvea Equity Research, the company delivered a strong first half, with higher-than-expected topline growth that was mainly driven by the drug-substances business, they say in a note.
The guidance raise was already anticipated, and sales numbers show Siegfried’s strong capabilities to onboard new products and customers in a short time frame, the analysts say.
Write to Cecilia Butini at [email protected]
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