Galenica, a Swiss pharmaceutical and logistics company, has announced that it experienced growth in its full-year sales across all segments, leading the company to confirm its earnings outlook for 2023.
Strong Sales Performance
In 2023, Galenica's full-year sales increased by 4.4% to reach 3.75 billion Swiss francs ($4.34 billion). This growth can be attributed to the positive development of the pharmaceutical market, driven by increased sales of high-priced medications.
Slower Growth in the Second Half
Although Galenica's sales growth slightly slowed in the second half of 2023, with a rate of 3.3%, it is important to note that the first half of the year saw a growth rate of 5.5%. The decline in growth during the second half was mainly due to the seasonal flu epidemic and coronavirus infections that occurred in the same period of the previous year (2022).
Confirmed Outlook for 2023
Galenica has affirmed its outlook for 2023, maintaining its expected earnings before interest and taxes at CHF200.8 million, which is roughly the same as the previous year. Additionally, the company anticipates a dividend for 2023 that is at least at the same level as the previous year.
Investors and stakeholders can expect the full-year 2023 results to be released on March 12, according to Galenica.