2023-05-31 09:11:03
Zurich (awp) – The Aargau chemist Dottikon Exclusive Synthesis (ES) recorded a sharp growth spurt in its staggered 2022/23 financial year, which ended at the end of March, along with an improvement in its profitability. Engaged in an extension of its infrastructures with a view in particular to a movement of repatriation of pharmaceutical production, the specialist in hazardous reactions prefers to inject its liquidities into its material and human capacities than into shareholder remuneration.
The turnover was coated by more than a quarter to 319.5 million Swiss francs, when the gross operating surplus jumped 31.3% to 116.6 million. Net profit exploded by nearly half to 87.7 million, according to the annual report released on Wednesday.
Operating cash flow was multiplied by two and a half to 89.5 million, but investments swelled by three quarters to 136.4 million. This results in a new flow of available cash of 46.9 million, once morest 42.9 million a year earlier.
The management aims for the current financial year to further increase its revenues and maintain a strong growth rate in the medium term. The approximately 700 million invested in the extension of capacities should lead in 2024 to the commissioning of a drying site for active pharmaceutical ingredients and in 2025 to that of a versatile chemical plant.
Ultimately, the firm intends to create more than 200 new jobs in its Dottikon stronghold and practically double its production capacity for active ingredients.
Analyst for the Zurich Cantonal Bank (ZKB), Daniel Buchta welcomes a volley of robust figures, made during a difficult period. According to him, the performance certainly responds to price increases, but also to an increase in volumes.
However, the analyst deplores the lack of detailed prospects, for his part counting on a slowdown in growth of around 10% over the current financial year before a further acceleration. The Ebitda margin target of around 40% seems realistic in the long term, but will immediately be undermined by the large volume of investments.
At 10:30 am, the registered Dottikon ES appreciated by 2.6% to 256.50 Swiss francs, at the forefront of an SPI up slightly by 0.10%.
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