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Sweden's Genovis Q3 net sales rise 34% on record genomics segment

By Reuters News


Overview

  • Sweden biopharma research tools firm's Q3 net sales rose 34% yr/yr

  • Q3 EBITDA rose 50% yr/yr

  • Q3 EPS declined yr/yr due to prior-year asset sale gain


Outlook

  • Company enters Q4 with a broader product portfolio and increased business diversification

  • Company sees increased service enquiries and quotation requests at start of Q4

  • Genomics segment expected to contribute more to future growth


Result Drivers

  • GENOMICS GROWTH - Co said Genomics segment delivered its strongest quarter to date, with sales more than doubling from the previous quarter, driven by substantial OEM sales and academic demand

  • ANALYTICS DEMAND - Co said Analytics product sales grew 18%, with strong demand in North America and growth in Asia, offset by weaker Europe due to project timing at major pharma customers

  • PROTEOMICS EXPANSION - Co said Proteomics benefited from KPL integration, new product launches and first orders for acquired products


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

Beat

SEK 36.87 mln

SEK 35 mln (1 Analyst)

Q3 EPS

SEK 0.06

Q3 EBITDA

SEK 10.29 mln

Q3 Operating Cash Flow

SEK 14.58 mln


Analyst Coverage

  • The one available analyst rating on the shares is "strong buy"

  • The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy."

  • Wall Street's median 12-month price target for Genovis AB is SEK34.50, about 64.3% above its November 9 closing price of SEK21.00

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


Reuters Recommended Reads

  • Nov 10 - Sweden's Mentice Q3 sales, orders rise on demand from medical device, healthcare systems sectors

  • Nov 9 - UK's Mereo BioPharma Q3 revenue beats expectations

  • Nov 9 - Biopharma Almirall 9M sales rise on European dermatology growth


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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