DiaSorin confirms 2023 guidance after 9 months of decline

DiaSorin confirms 2023 guidance after 9 months of decline

(Finance) – DiaSorinan Italian multinational active in the field of diagnostics included in the FTSE MIB, has closed i first nine months of 2023 with revenues equal to 846 million euros, -16% (-15% at constant exchange rates) compared to the first 9 months of 2022. With the same scope of consolidation, the change is equal to -14% (-13% at exchange rates constant exchange rates) while, net of the COVID business, growth of 2% was recorded (+3% at constant exchange rates).

L’Adjusted EBITDA it was 278 million euros, -29% compared to the first 9 months of 2022, with an impact on revenues of 33%. The reduction in margins compared to the same period of the previous year is mainly due to lower COVID revenues and the consequent decrease in operating leverage. L’Adjusted net profit was equal to 164 million euros, -33%, with an impact on revenues of 19% (24% in the first 9 months of 2022).

L’net financial debt consolidated is equal to -832 million euros (-907 million at 31 December 2022). The change, equal to +75 million, is the result of the generation of operating cash for the period and the proceeds relating to the sale of the Flow Cytometry business, partially offset by the payment of dividends for 59 million and the purchase of treasury shares for 28 million . The free cash flow is equal to 160 million euros as of 30 September 2023 (252 million as of 30 September 2022), with the change compared to the previous year which is substantially attributable to the reduction in EBITDA.

Diasorin has confirmed the guidance for the 2023 financial yearas detailed below: revenues at -14%, revenues on a like-for-like basis approximately -11% (of which revenues net of the COVID and respiratory molecular business +4%/+6%, revenues for the respiratory molecular business approximately -20%, COVID revenues approximately 60 million, or -75% compared to 2022), EBITDA Adjusted Margin of approximately 34%.

Diasorin explained that the industrial plan 2024-2027 will be presented to the financial community on December 15, 2023.