PolyPeptide Group / Keywords: Semi-Annual Results / Profit Drop
The PolyPeptide group announced the course of its activity
12/07/2022 / 07:00 CET / CEST
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PolyPeptide informed about the course of business
Baar, July 12, 2022 PolyPeptide Group AG (PolyPeptide), the world’s leading contract developer and manufacturer of peptides and oligonucleotides, hereby announces its business course. By continuing to invest in the implementation of the development strategy, the company expects a lower profit in the first half of 2022 compared to the first half of 2021. The EBITDA margin for the first half of 2022 is to amount to approximately 20% of sales.
Development comes from a combination of factors. On the one hand, sales in the first half of 2022 will be more or less at the same level as in the corresponding period of the previous year, but the business mix was exceptionally favorable then. In addition, PolyPeptide has not yet been able to pass the higher costs of raw materials, energy, consumables and wages onto its customers. Finally, PolyPeptide expanded the organization to grow the company and increased the average number of employees (full-time equivalent) in production facilities by around 13% compared to June 2021.
In addition, as part of the current development of the coronavirus pandemic, PolyPeptide expects some of the pending COVID-19 sales in 2022 to be postponed until 2023. PolyPeptide will provide further details on H1 2022 results and an update to the communication of the year perspective financial statement 2022 with the semi-annual financial statements planned for August 19, 2022.
PolyPeptide is focused on a strategic growth program to realize its long-term potential in its core peptide and oligonucleotide business. On the one hand, the company is investing in further expanding its capabilities for customer projects in Phase III clinical development. On the other hand, it tries to constantly expand its portfolio, increasing its portfolio from 181 active client projects at the end of June 2021 to 218 projects at the end of June 2022.
PolyPeptide Group AG
Michael Stäheli, director of investor relations and corporate communications
firstname.lastname@example.org, +41 41 723 20 34
PolyPeptide is a contract developer and manufacturer (CDMO) of proprietary and generic GMP-grade peptides used by pharmaceutical and biotechnology companies in approved pharmaceutical products, drugs in clinical development and generics. The company, which dates back to 1952, now produces around half of all currently approved peptide active ingredients and has a global footprint with six GMP certified manufacturing facilities in Europe, the United States and India. As an international company with around 1,100 employees at the end of 2021, PolyPeptide combines extensive knowledge and experience. Grown organically and through the selective acquisition of existing expertise, PolyPeptide is now a leader in the outsourcing of peptide production. PolyPeptide (SIX: PPGN) shares are listed on the SIX Swiss Exchange. Visit polyptyd.com for more information.
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Forward-Looking Information Notice
This press release has been prepared by PolyPeptide Group AG and contains information and forward-looking statements about the Group’s business prospects. These statements are based on the current expectations, estimates and forecasts regarding the factors that may affect the Company’s future results. These expectations, estimates, and projections are typically identified by statements containing words such as “expect”, “consider”, “estimate”, “goal”, “plan”, “prospects” or similar expressions. There are many risks, uncertainties and other factors, many of which are beyond the control of PolyPeptide Group AG, which could cause actual Group results to differ materially from the information and forward-looking statements contained in this press release, and which could affect the possibility of being affected by on the Group’s ability to achieve its goals. Important factors that can lead to such a discrepancy include, but are not limited to: relationships with employees, customers, and other business partners; competition strategies; production capacity and use; quality defects; supply chain matters; legal, tax or regulatory disputes; and changes in the political, social and regulatory environment in which the Group operates, or in economic or technological development or conditions. Although PolyPeptide Group AG believes that its expectations, reflected in such forward-looking statements, are based on reasonable assumptions, it cannot guarantee that these expectations will be actually met.
Alternative Financial Performance Measures (APM)
This press release contains references to operational indicators, such as active customer projects and APM, that are not defined or defined by IFRS, including EBITDA. This should be considered as supplementary information to the Group’s IFRS-based consolidated financial performance, and not as a substitute. May not be comparable with similarly labeled data from other companies. Definitions of the operational indicators and APMs used, including their respective abbreviations, can be found in the “Definitions and Reconciliations” section of the 2021 Annual Report and the PolyPeptide Group AG 2022 Bi-annual Report (at the time of publication).