Date | | | March 7, 2024 | ||||||
Location | | | Zurich / Zoom Call | ||||||
Name | | | Thomas Meier, Alain Schaffter | ||||||
At the end of the presentation there will be time for questions.
Write to us in the Q&A section anytime.
This call will be recorded and playback will be posted on bachem.com.
2 Bachem FY Results 2023
3 Bachem FY Results 2023
01
Full Year Results 2023 - Thomas Meier
02 Financial Review 2023 - Alain Schaffter
03 Outlook 2024 - Thomas Meier
04 Q & A - all
4 Bachem FY Results 2023
Thomas Meier
5 Bachem FY Results 2023
Sales
- Sales of CHF 577.3m (+8.6%).
- Local currency increase +12.8%.
- Strong H2/23 with CHF 337.5m (+13.7% against H2/22).
- Key drivers CMC development (petides & oligonucleotides) and commercial peptides.
Capacity
- Building K commissioning and start up in H2/24.
- Additional equipment building G to support key accounts during 2024.
- Sisslerfeld: site development plan handed in
- 2 006 full-time equivalent employees (+230).
Profitability
- EBITDA CHF 166.7m / margin 28.9% (29.1% adjusted).
- Local currencies EBITDA margin 30.5%.
- Proposal to increase dividend to CHF 0.80 per share (increase of CHF 0.05).
Portfolio
- CMC pipeline with 162 NCEs.
- Includes several new NCEs despite biotech funding environment.
6 Bachem FY Results 2023
in CHF million | 2023 | Change in CHF | Change in | Sales share |
local currency | ||||
Research & Specialties | 40.8 | - 13.5% | - 10.4% | 7.1% |
CMC Development | 227.5 | + 22.4% | + 27.7% | 39.4% |
Commercial API | 309.0 | + 3.4% | + 7.1% | 53.5% |
Total sales | 577.3 | + 8.6% | + 12.8% | 100.0% |
7 Bachem FY Results 2023
Commercial API:
- Originator peptides, including first sales from strategic long-term customers.
- Generic peptides.
CMC development: | Tailwinds |
- Strong peptide project landscape.
- Strong oligonucleotide development growth.
Commercial API:
- Lower commercial oligonucleotide sales.
• Reduced demand for small molecule generics.
Research & Specialties
+8.6%
Headwinds
- Tight capacity for small-scale non-medical projects due to high API demand.
8 Bachem FY Results 2023
+13.7%
338
297 | ||
264 | ||
239 | 235 | 240 |
225 |
179177
135
2019 | 2020 | 2021 | 2022 | 2023 | ||
H1 sales | H2 sales | |||||
9 Bachem FY Results 2023
Sales distribution by customer tiers in % of sales
100.0%
90.0%
80.0%
70.0%
60.0%
50.0%
40.0%
30.0%
20.0%
10.0%
0.0%
2019 | 2020 | 2021 | 2022 | 2023 |
Top 5 Top 6-10 Top 11-15 Other
10 Bachem FY Results 2023
Top 10 customers c. 63% of sales