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Norway's ArcticZymes Q3 revenue rises on Biomanufacturing growth

By Reuters News


Overview

  • Norway enzyme maker's Q3 revenue rose 15% yr/yr, led by Biomanufacturing sales

  • Q3 EBITDA declined yr/yr, impacted by currency movements

  • Company launched first RNA medicine products after quarter, expanding into new market


Outlook

  • Company aims to deliver sustainable double-digit growth from existing and new enzyme markets

  • Priorities include scaling Biomanufacturing, expanding Asia-Pacific distribution, and developing RNA enzyme portfolio

  • Company remains mindful of geopolitical and macroeconomic risks, including currency volatility and trade policy


Result Drivers

  • BIOMANUFACTURING GROWTH - Biomanufacturing sales rose 44% yr/yr, with sales to contract drug manufacturers more than doubling, driven by increased use of enzymes in new medicine production

  • MOLECULAR TOOLS ORDER TIMING - Molecular Tools revenue fell 8% yr/yr in Q3, mainly due to some customer orders moving into the fourth quarter

  • CURRENCY IMPACT - Weaker US dollar and euro against the Norwegian krone reduced reported Q3 sales and EBITDA


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

NOK 32.90 mln

Q3 EBITDA

NOK 3.10 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the pharmaceuticals peer group is "buy"

  • Wall Street's median 12-month price target for Arcticzymes Technologies ASA is NOK26.00, about 23.8% above its November 4 closing price of NOK21.00

  • The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 43 three months ago


Reuters Recommended Reads

  • Nov 3 - SalMar Q3 operational EBIT tops estimates on record volume

  • Nov 3 - Devyser Q3 sales rise on portfolio expansion

  • Nov 3 - SOPHiA GENETICS Q3 revenue rises on US market strength


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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