AI Terminal
PCAS
Earnings Release • Nov 3, 2022
1590_iss_2022-11-03_202f38f8-f863-4d3b-b427-98ca86c1a4ca.pdf
Earnings Release
Open in ViewerOpens in native device viewer
NET SALES AS OF SEPTEMBER 30, 2022
PCAS (Euronext Paris: PCA), a specialist in developing and producing complex molecules for life sciences and innovative technologies, has announced the publication of its consolidated net sales as of September 30, 2022.
Press release
The PCAS Group has generated consolidated net sales of €156.1 million as of September 30, 2022, a 9.6% increase compared to the same period during the previous financial year (+7.1% at constant exchange rates).
| In millions of euros | 2022 | 2021 | % change | 2022 At a constant exchange rate |
% change |
|---|---|---|---|---|---|
| Net sales as of 30 September | 156.1 | 142.4 | 9.6% | 152.5 | 7.1% |
| Pharmaceutical Synthesis | 94.3 | 93.2 | 1.3% | 92.7 | -0.5% |
| Fine Specialty Chemicals | 61.8 | 49.2 | 25.4% | 59.8 | 21.4% |
Pharmaceutical Synthesis
The Pharmaceutical Synthesis business generated sales of €94.3 million, a 1.3% increase compared to 2021 (a 0.5% decrease at a constant exchange rate). Third-quarter revenue was up sharply compared to 2021, driven by the sales of Estetrol to Mithra, a favorable EUR/USD exchange rate and the effect of price increases implemented in the past few months to offset the very significant rise in raw material and energy costs. Momentum remained very strong at the Turku site, while activity linked to R&D and intermediates was significantly lower compared to 2021.
Fine Specialty Chemicals
Net sales of Fine Specialty Chemicals totaled €61.8 million, a 25.4% increase compared to 2021 (+21.4% at a constant exchange rate). Activity held up well in the third quarter, with continued strong demand for Electronics and Cosmetics, and positive trends in Lubricants and Fine Chemicals. The rise in the costs of raw materials and energy were passed on downstream and contributed to the growth in net sales.
Outlook
+
The PCAS Group will still generate a significant loss in 2022 due to a level of activity which remains insufficient at several Pharmaceutical Synthesis sites to cover the level of fixed costs and by inventory depreciations linked to non-compliant products.
All the PCAS Group teams, with the support of its majority shareholder Seqens for the financing of its activities and its development, remain fully committed to returning to positive results in 2023, helped by gradual growth in Estetrol volumes for Mithra.
NEXT FINANCIAL DISCLOSURE: 2022 Net sales, February 3, 2023
ABOUT PCAS
PCAS specializes in the development and production of complex molecules for life sciences and innovative technologies. With about 12% of its net sales earmarked for R&D and a large international footprint, PCAS is the preferred industrial partner for market-leading major global groups. Boasting especially high standards, the company offers a growing range of proprietary products and solutions in leadingedge segments. PCAS generated net sales of €187.0 million in 2021 and employs nearly 1100 people in six countries. To find out more about PCAS: www.pcas.com
PCAS NewCap
Tel.: +33 1 69 79 60 00 www.pcas.com
Philippe Clavel / Eric Moissenot Emmanuel Huynh / Louis-Victor Delouvrier NewCap Financial communication and investor relations Tel.: +33 1 44 71 98 53 [email protected]