By Bachem AG
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Bachem reports ‘excellent’ first half results for 2021
Bubendorf, Switzerland: –Bachem AG has reported first half financial results for 2021 that show 35% sales growth with similar percentage rise in operating income.
Net income increased by almost 62% from CHF 32.8 million to CHF 53.1 million (EUR 49.4m) while margin increased to 22.2%, compared with 18.5% for the same period of 2020.
Gross operating income (EBIT) increased from CHF 40.3 million to CHF 61.9 million, representing a margin of 25.9%, while Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose from CHF 53.0 million to CHF 75.5 million and a margin of 31.6%.
Other highlights for the first half included investments of over CHF 50 million, in construction and expansion of production facilities, and creation of 107 new jobs (77 of them in Switzerland) since the beginning of the year.
Full year outlook
Bachem now expects to exceed sales of CHF 500 million for the full year and to sustain average annual rate of growth of about 15% for the coming five years.
The company intends to grow EBIT at a rate ahead of sales and is now planning investments over CHF 500 million over the next five years across sites and business areas in order to expand capacity further.
Commenting on the results, Bachem Group CEO Thomas Meier said:“ The first half of 2021 has gone very well for Bachem. I am particularly pleased that we have been able to grow both our business, as well as our capacity and workforce simultaneously. Bachem is definitely on track to reach its company goals and continue to grow sustainably and profitably in the coming years.”
Growth across the board
Bachem Group registered growth across all product categories and sales regions with numerous approvals of customer products being a particularly welcome development. Sales of Commercial APIs rose by 35.8% over the comparable period of 2020, to CHF 148.2 million. CMC Development growth was 30.7% to CHF 68.3 million. The Research & Specialties category grew by 43.7% to CHF 22.6 million. Split by sales regions, growth was 41.3% in Europe/Asia and 29.5% in North America (all growth figures in Swiss francs).
Bachem also reports its oligonucleotide business expanding according to plan, with additional production facilities scheduled to come on-stream at Bubendorf location by the end of the year. In the medium term, the company is targeting annual oligonucleotide sales of CHF 100 million, placing Bachem among the top three contract development and manufacturing organizations (CDMOs) in this arena.
Bachem is a leading, innovation-driven company specializing in the development and manufacture of peptides and oligonucleotides.
With 50 years of experience and expertise Bachem provides products for research, clinical development and commercial application to pharmaceutical and biotechnology companies worldwide and offers a comprehensive range of services.
Bachem operates internationally with headquarters in Switzerland and locations in Europe, the US and Asia.
The company is listed on the SIX Swiss Exchange. For further information, visit the Bachem website.
Click on Bachem First Half FY 2021 to view original release and download links.
Click on Bachem Reports and Presentations for complete half-year report 2021, including slides for analysts and media, along with further resources.
Click on Bachem First Half Results 2021 for video presentation.