Lonza : Strong H1 results driven by Biologics
>A set of strong H1 results - Lonza reported a set of strong H1 2024 results. Group sales came in at CHF 3,057m (-0.7% and +1.8% at CER), slightly below our estimates (CHF 3,105m) but above the consensus (CHF 3,015m). Core EBITDA is at CHF 893m (-3.1%; +0.6% at CER) beating our estimates (CHF 853m) by 5% and cons. (CHF 802m) by 11%. The y-o-y decline reflects the loss of Covid-related mRNA business. The shortfall at the net earnings level (CHF 330m vs our estimates of...Lonza supplies services and products that range from active pharmaceutical ingredients and stem-cell therapies to drinking water sanitizers, from vitamin B compounds and organic personal care ingredients to agricultural products, and from industrial preservatives to microbial control solutions. Co. operates in two segments: Lonza Pharma & Biotech, which clusters all of Co.'s offerings for pharmaceutical markets, focuses on providing custom development, custom manufacturing, cell therapy, viral therapeutics and bioscience solutions; and Lonza Specialty Ingredients, which includes offerings in its consumer care, agro ingredients, industrial solutions, wood protection and water treatment.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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