PolyPeptide achieves strong profitable growth in 2021
PolyPeptide Group AG (SIX: PPGN), a global leader in peptide custom development and manufacturing, today announced its results for the financial year 2021:
- Revenue growth of 26.5% year-over-year to EUR 282.1 million, driven by custom projects in phase III of clinical development, including a substantial contribution from Novavax
- Adjusted EBITDA up 42.4% to EUR 88.2 million; adjusted EBITDA margin of 31.3%, up 3.5 percentage points
- Capital expenditures of EUR 76.7 million or 27.2% of revenue, reflecting accelerated capital deployment
- Result for the year up 50.8% to EUR 47.3 million with basic EPS of EUR 1.47
- CHF 0.30 per share as cash distribution to be proposed to AGM 2022
- For 2022, PolyPeptide targets revenue growth of 12-14% with an adjusted EBITDA margin of around 30%
and capital expenditures of over 25% of revenue - Audio webcast and telephone conference will take place today at 9.30am CET (details see page 4)
Raymond De Vré, Chief Executive Officer of PolyPeptide, commented:
“We delivered strong sales growth of over 25% with a consistently high delivery performance in what was an exceptional year for PolyPeptide, also completing the IPO back in April 2021. Our results reflect well on PolyPeptide’s technical capabilities, execution mindset and customer focus. We remain committed to long-term relationships, as we partner with our customers on the development and commercialization of their therapeutic products – in peptides and increasingly also in oligonucleotides. I look forward to continuing to work with our customers and in doing so, to contribute to the health of millions of patients around the world.”
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