World political news

Lonza announced $2.17 billion share buyback

2023.01.25 03:19

Lonza announced  $2.17 billion share buyback
Lonza announced $2.17 billion share buyback

Lonza announced $2.17 billion share buyback

By Kristina Sobol  

Budrigannews.com – Despite the anticipated decrease in annual margins, Lonza, the Swiss drug contract manufacturer, backed its growth prospects for the near future and announced on Wednesday that it would buy back shares worth 2 billion Swiss francs ($2.17 billion).

Due to the waning impact of COVID-19 vaccine manufacturing services in the previous year, Lonza anticipates that its core earnings before interest, depreciation, and amortization (EBITDA) margin in 2023 will fall between 30% and 31%, down from 32.1 percent in 2022.

However, the company with headquarters in Basel announced a 17% increase in its annual dividend and reiterated its target of 33%-35% margins by 2024.

In a statement, chief executive Pierre-Alain Ruffieux stated, “We are also pleased to confirm our Mid-Term Guidance 2024, supported by new capacity coming online and robust industry fundamentals.”

In addition, the company reported a nearly 20% increase in core 2022 EBITDA of 2.0 billion Swiss francs, slightly exceeding market expectations, as part of a multi-year investment push to assist drug developers betting on new therapeutic proteins and cell and gene therapies.

According to Lonza, the company’s financial buffer was sufficient for the construction of new plants, the pursuit of bolt-on takeover opportunities, and the distribution of cash among shareholders due to its net cash position of 186 million francs.

Higher energy costs, expensive domestic production as a result of the Swiss franc’s recent rise in value, and a decrease in income from producing COVID-19 vaccines for Moderna (NASDAQ:) have all sparked concerns among some analysts.

Adjusted for currency fluctuations, the Swiss company predicted sales growth in the “high single digits,” which was lower than the 15.1% increase it experienced last year.

Lonza announced $2.17 billion share buyback

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 84,158.55 0.20%
ethereum
Ethereum (ETH) $ 1,926.92 0.38%
tether
Tether (USDT) $ 1.00 0.01%
xrp
XRP (XRP) $ 2.42 3.00%
bnb
BNB (BNB) $ 597.45 1.46%
solana
Solana (SOL) $ 134.59 1.46%
usd-coin
USDC (USDC) $ 1.00 0.00%
cardano
Cardano (ADA) $ 0.746297 0.95%
dogecoin
Dogecoin (DOGE) $ 0.175931 1.85%
tron
TRON (TRX) $ 0.223538 0.27%
staked-ether
Lido Staked Ether (STETH) $ 1,925.84 0.02%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 84,053.52 0.29%
pi-network
Pi Network (PI) $ 1.45 4.79%
leo-token
LEO Token (LEO) $ 9.73 0.85%
chainlink
Chainlink (LINK) $ 14.01 3.01%
stellar
Stellar (XLM) $ 0.276241 1.67%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,305.07 0.19%
usds
USDS (USDS) $ 1.00 0.04%
the-open-network
Toncoin (TON) $ 3.30 15.46%
hedera-hashgraph
Hedera (HBAR) $ 0.192661 1.79%
avalanche-2
Avalanche (AVAX) $ 18.48 3.24%
shiba-inu
Shiba Inu (SHIB) $ 0.000013 0.76%
sui
Sui (SUI) $ 2.35 2.37%
litecoin
Litecoin (LTC) $ 92.89 1.45%
bitcoin-cash
Bitcoin Cash (BCH) $ 338.37 1.67%
polkadot
Polkadot (DOT) $ 4.40 5.14%
mantra-dao
MANTRA (OM) $ 6.52 3.35%
ethena-usde
Ethena USDe (USDE) $ 0.999893 0.01%
weth
WETH (WETH) $ 1,927.53 0.09%
bitget-token
Bitget Token (BGB) $ 4.48 0.74%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.51%
hyperliquid
Hyperliquid (HYPE) $ 14.62 4.28%
whitebit
WhiteBIT Coin (WBT) $ 28.83 1.47%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,046.92 0.06%
monero
Monero (XMR) $ 208.49 0.86%
uniswap
Uniswap (UNI) $ 6.09 1.10%
susds
sUSDS (SUSDS) $ 1.04 0.11%
aptos
Aptos (APT) $ 5.34 1.09%
dai
Dai (DAI) $ 0.999976 0.00%
near
NEAR Protocol (NEAR) $ 2.64 0.96%
pepe
Pepe (PEPE) $ 0.000007 0.23%
okb
OKB (OKB) $ 46.33 0.56%
ondo-finance
Ondo (ONDO) $ 0.87416 1.41%
internet-computer
Internet Computer (ICP) $ 5.72 1.70%
ethereum-classic
Ethereum Classic (ETC) $ 17.91 2.47%
gatechain-token
Gate (GT) $ 21.38 1.45%
aave
Aave (AAVE) $ 172.13 0.09%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 84,202.56 0.06%
mantle
Mantle (MNT) $ 0.744154 1.01%
official-trump
Official Trump (TRUMP) $ 12.04 1.20%