Biopharma drives Lonza 2007 EBIT up 35.5%

23 January 2008 10:16  [Source: ICIS news]

MUMBAI (ICIS news)--Lonza posted a 35.5% year-on-year rise in its full year 2007 earnings before interest and tax (EBIT) to Swfr408m ($371.7m/€255m), mainly pushed by a strong performance in the biopharmaceutical segment, the Switzerland-based life sciences firm said on Wednesday.

For the full-year period, the company posted a 25.6% rise in sales to Swfr2.87bn on strong revised growth strategies for bioscience, nutrition ingredients and micobial control, the company said.

The company grew net income grew 51.2% to Swfr301m partly due to a reduced tax rate.

The improved results for the period were also driven by the one-time gain due to the sale of purified isophthalic acid facility in Singapore for $138m, which recorded a book gain of Swfr29m, the company said. 

The company has been selling its petrochemical assets to focus on life sciences.

“The full-year performance was characterized by Lonza’s portfolio changes and solid developments in all businesses, with biopharmaceuticals experiencing particularly strong growth,” the company said.

Group earnings before interest tax depreciation and amortization (EBITDA) rose 40.9% to Swfr682m.

The company’s life science ingredients segment also posted a solid performance in 2007, with an EBIT of Swfr140m up 7.7% from the year-ago period.

Net sales were up 5.6% to Swfr1.14bn.

Shares of the company were up 1.02% to Swfr129 at 9:55 GMT on the Swiss Exchange.

($1 = Swfr1.09/€1 = Swfr1.60)

By: Isha Jha
+65 6780 4359

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