Shares in Siegfried Holding rose in early trading on Thursday after the company lifted its guidance for 2023 following higher sales in the first half of the year.
In a significant development for Swiss life-sciences company Siegfried Holding, their shares surged as they announced an upward revision in their sales guidance for 2023. This positive change can be attributed to the company’s robust sales performance in the first half of the current year.
At 0909 GMT, the shares of Siegfried Holding traded 3.4% higher at CHF760.50.
Strong Growth Forecast for Sales at Constant Currency
The Switzerland-based company now expects mid-single-digit growth in full-year sales at constant currency, surpassing their previous forecast which projected growth in the low-to-mid single digits. Furthermore, Siegfried Holding anticipates that their margin on core earnings before interest, taxes, depreciation, and amortization will exceed 20%, compared to their earlier forecast of a margin at 20% or above.
According to analysts at Baader Helvea Equity Research, Siegfried Holding delivered an impressive performance in the first half of the year. They highlight strong topline growth, which was primarily driven by the drug-substances business.
The analysts assert that the guidance raise was expected, and the sales numbers demonstrate the company’s exceptional ability to quickly onboard new products and customers.
