Eurofins: FY earnings down over a third
(CercleFinance.com) - Eurofins Scientific has reported 2022 adjusted net profit that down 35% to 683 million euros, or E3.
43 per share, with adjusted EBITDA down 20% to 1.51 billion euros, i.e. a margin that is down 5.8 points at 22.5%.
However, the bio-analytical services provider's revenues resisted at 6.71 billion euros, with growth in its core business (+5.8% organic) offsetting a decline in Covid-19 test and reagent revenues.
At its AGM on 27 April, the Board of Directors intends to propose a dividend of E1 per share for the past year, representing 33% of annual reported EPS.
Eurofins has updated its targets for 2023, including adjusted EBITDA of 1.35-1.4 billion euros and revenues of 6.6-6.7 billion euros, and a 2027 adjusted EBITDA margin of 24% and revenues of around 10 billion euros.
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