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Investing.com -- Shares of Siegfried Holding AG (SIX:SFZN) rose on Friday after the Swiss drug manufacturer on Thursday reported stronger profitability in the first half of 2025 and reaffirmed its full-year outlook, despite flat sales and currency headwinds.
The Zofingen-headquartered company posted net sales of CHF 619.5 million for the period, compared with CHF 619.9 million a year earlier, representing a decrease of 0.1% in Swiss francs but an increase of 1.6% in local currencies.
Sales in the Drug Substances division reached CHF 413.8 million, up 2.1% in local currencies and 0.6% in Swiss francs.
Drug Products contributed CHF 205.8 million, rising 0.7% in local currencies but down 1.5% in Swiss francs .
Core EBITDA came in at CHF 133.9 million, up from CHF 132.1 million a year earlier, with the margin improving to 21.6% from 21.3%.
Core net profit declined to CHF 65.7 million from CHF 71.7 million, a decrease attributed to negative exchange rate differences.
Cash flow from operating activities increased to CHF 149.6 million, compared with CHF 118.9 million in the prior-year period. The company said more than CHF 35 million in cash was released through net working capital optimization .
The company reaffirmed its outlook for 2025, guiding for mid-single-digit percentage sales growth in local currencies and a core EBITDA margin above 22%. S
iegfried also maintained its mid-term expectation of continued profitable growth above market levels, excluding mergers and acquisitions.
Siegfried continued to expand its manufacturing capacity in line with its EVOLVE+ strategy.
At its El Masnou site in Spain, the company is increasing production of sterile eye drops, with capacity scheduled to be available in 2027.
The expansion of sterile eye care ointment capacity at the same site is expected to come online in 2026. At Barberà del Vallès, Siegfried is adding spray drying capacity, with first revenues projected in 2027.
In Germany, two new manufacturing lines for pre-filled syringes and cartridges are being installed at the Hameln facility, with the first expected to start generating revenue in 2026 and the second in 2027.
DINAMIQS’ new 2,500-square-meter viral vector manufacturing facility is set to become operational by the end of 2025.
At Minden, construction of a new large-scale multi-purpose plant for Drug Substances is nearing completion, with initial revenues expected in the second half of 2025.