Record sales and solid profit growth
Posted: 16 September 2015 |
Bachem Group increased its sales by about 15% to nearly 100 million CHF in the first half of 2015…
- Sales climb 14.8% in CHF
- Half-year local sales figure the highest in company history
- Renewed increase in operating and net income despite currency effects
- EBITDA at 26.9% and EBIT at 17.7% of sales
- Integration of American Peptide Company (APC) on track
- Investments in future growth in Europe and the US
- Very good results expected for 2015 as a whole
Bachem Group (SIX: BANB) increased its sales by about 15% to nearly 100 million CHF in the first half of 2015 (H1 2014: 86.7 million CHF). Group sales in local currency (LC) for the first half were higher than in any other half-year period since the company’s founding. Generics sales rose by approx. 9% in LC to 49.3 million CHF and sales of research ingredients were also very strong in both the catalog products and custom synthesis business. Bachem achieved further stellar growth in the New Chemical Entities (NCEs) business, where sales rose by more than 22% in LC. Despite negative currency effects, EBITDA advanced to 26.8 million CHF and EBIT to 17.6 million CHF. Excluding last year’s extraordinary gain of 2.0 million CHF on the divestment of the immunology product line, EBIT for the period was up by about 22%. Net income rose to 12.6 million CHF. In view of the pleasing first-half results, the orders on hand and current market developments, 2015 is expected to be a very good year.
Outlook: Investments in future growth
Management priorities during the second half of the year will focus on the steady integration of APC and further investment in the capacity expansion at all existing sites, to accommodate future growth. Due to the record-high order backlog, Bachem will strengthen its teams in Switzerland, UK and the US. Management confirms its annual target for 2015. Based on a stable economic environment and current exchange rates, 2015 is expected to be a very good year. Including APC, the company expects sales growth in local currencies of about 10% and a further improvement in profitability.
The half-year report for 2015 can be downloaded from the following website: www.bachem.com/half-year_report
Financial Calendar
- March 11, 2016 Publication of Annual Report 2015; Media and Financial Analysts Conference
- April 18, 2016 Annual General Meeting
- August 26, 2016 Publication of Half-Year Report 2016
