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Investing.com -- Siegfried's shares were down over 6% on Tuesday following its 2024 annual results, which, despite showing a positive growth trajectory, fell short of analysts' expectations.
The Swiss drug manufacturer reported net sales of CHF 1.29 billion, a modest 1.8% increase from the previous year, but slightly below the CHF 1.30 billion forecast by analysts.
This discrepancy came despite Siegfried's strong underlying business and above-market growth, which helped counterbalance challenges such as the phase-out of vaccine sales and ongoing destocking.
Core EBITDA, a key indicator of profitability, reached CHF 285.6 million, up 4.5% from the previous year. However, this also fell just short of the CHF 286 million analysts had anticipated.
Despite these figures, Siegfried’s management remained positive about the company's performance.
CEO Marcel Imwinkelried said the progress made in executing the company’s EVOLVE+ strategy, which focuses on strengthening its position in the pharmaceutical industry through commercial, development, and operational excellence.
The company also made investments, including acquisitions and expanding its research and manufacturing facilities, which were seen as positioning Siegfried well for future growth.
Siegfried has forecasted sales growth in the mid-single-digit range for 2025, with core EBITDA margins expected to remain above 22%.