Siegfried Continues to Grow and Increases Profitability

In the first half of 2024, Siegfried AG (SIX: SFZN) made notable progress in its corporate strategy EVOLVE, focusing on long-term profitable growth. Net sales reached CHF 619.9 million, a 3.5% increase in local currencies. Core EBITDA rose to CHF 132.1 million, improving the margin to 21.3%. Core net profit increased to CHF 71.7 million. Operating cash flow surged to CHF 118.9 million.

CEO ad interim Dr. Reto Suter underscored strong revenue growth and important investments, including the acquisition of a US-based CDMO specializing in early-phase services. This move aims to enhance Siegfried’s offerings and customer appeal.

High demand, portfolio optimization, and operational excellence drove growth. Drug Substances sales rose by 4.3%, while Drug Products saw a 1.8% increase in local currencies. Significant investments in the global manufacturing network continue, with new facilities in the US and Switzerland.

For 2024, Siegfried anticipates low single-digit sales growth and a core EBITDA margin at or above 2023 levels.