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Lonza H1 EBITDA, Margin Down; Sales Rise; Confirms Upward Revision To FY21 Sales Growth View

Lonza Group AG (LZAGF.PK), a supplier to the pharmaceutical, healthcare and life-science industries, reported Friday that its first-half EBITDA fell 25.6 percent to 558 billion Swiss francs from 750 million francs a year ago.

EBITDA margin declined to 22 percent from last year's 33.4 percent. CORE EBITDA was 847 million francs, up 13.1 percent from 749 million francs a year ago. CORE EBITDA margin was 33.3 percent, down from 33.4 percent last year.

Sales were 2.54 billion francs, up 13.3 percent from 2.24 billion francs last year. Sales growth was 14.7 percent at constant exchange rate.

Lonza said it has seen continued customer demand for COVID-related projects during the first half, including the expansion of its collaboration with Moderna for the drug substance production of Moderna's COVID-19 vaccine at Lonza Visp (CH) and Lonza Geleen (NL).

Looking ahead for fiscal 2021, the company confirmed an upward revision to its 2021 outlook, reflecting the expectation to achieve mid-teens CER sales growth.

CORE EBITDA margin improvement is expected in line with Mid-Term Guidance trajectory.

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