UCB: H1 results above estimates - targets confirmed
(CercleFinance.com) - On Monday the Belgian biopharmaceutical company UCB reported H1 results above expectations and reiterated its financial targets for the financial year 2020.
The Brussels based laboratory this morning unveiled a 12% increase in revenues to 2.6 billion euros for the first six months of the year, which is about 5% above market expectations.
Its underlying profit (adjusted Ebitda) came in at 783 million euros for the half year, a figure that is up 8% and also exceeds the consensus by 10%.
The group has also confirmed its targets for 2020, still targeting FY sales of 5.05-5.15 billion euros, for an adjusted EBITDA margin of 26%-27% and EPS of between 4.4 euros and 4.8 euros.
Invest Securities analysts noted that apart from for EPS, the consensus was "globally more ambitious".
This disappointment was no doubt behind the lacklustre performance of the UCB share, whose price was flat at midday on Euronext Brussels.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The Brussels based laboratory this morning unveiled a 12% increase in revenues to 2.6 billion euros for the first six months of the year, which is about 5% above market expectations.
Its underlying profit (adjusted Ebitda) came in at 783 million euros for the half year, a figure that is up 8% and also exceeds the consensus by 10%.
The group has also confirmed its targets for 2020, still targeting FY sales of 5.05-5.15 billion euros, for an adjusted EBITDA margin of 26%-27% and EPS of between 4.4 euros and 4.8 euros.
Invest Securities analysts noted that apart from for EPS, the consensus was "globally more ambitious".
This disappointment was no doubt behind the lacklustre performance of the UCB share, whose price was flat at midday on Euronext Brussels.
Copyright (c) 2020 CercleFinance.com. All rights reserved.