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By Ludwig Burger
(Reuters) -Swiss drug contract manufacturer Lonza said core earnings gained 20.7% in 2021, shored up by demand for the substances it supplies for new mRNA COVID-19 vaccines.
Full-year core earnings before interest, tax, depreciation and amortization (EBITDA) rose to 1.67 billion Swiss francs ($ 1.82 billion), up from 1.38 billion a year earlier, it said in a statement on Wednesday. That was broadly in line with an analyst consensus posted on its website.
The company, which is a key supplier of vaccine maker Modern (NASDAQ :), is stepping up investments as it banks on long-term growth in the biopharmaceuticals sector well beyond the pandemic. [nL8N2R81GF]
For this year, Lonza predicted “low to mid-teens” sales growth, when excluding currency swings, as well as core EBITDA margin improvement from 30.8% in 2021.
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