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Eurofins: 2023 adjusted EBITDA down 10%

( - Eurofins Scientific reports adjusted net profit of E568m for the past year, or E2.
71 per share, and adjusted EBITDA down 9.9% to E1.36bn, at the upper end of its target range of E1.32bn-E1.37bn.

At E6.51bn, the bio-analysis services provider's sales fell by 2.9% due to a drop in revenues from Covid-19 tests and reagents, while those of its core business grew by 7.1% in organic terms.

A dividend of E0.50 per share will be proposed for 2023 at the AGM scheduled for 25 April, up 74% on 2018 (the last before the Covid-19 pandemic), representing an average annual growth rate of 11.7%.

Eurofins is targeting adjusted EBITDA of E1.525bn and E1.575bn, as well as sales of E7.075bn and E7.175bn, for 2024. It also confirms its 2027 targets of an adjusted EBITDA margin of 24% and sales of close to E10bn.

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