Revenue boom in the former 2022 semester weblog Diasorin. The Saluggia company closed the period between January and June with to evaluate higher than the consensus e revenues equal to 685 million euros (664 million according to the Bloomberg consensus), with an annual growth of 33%. On the one hand, the maxi-acquisition of the American company drove the figure luminex, included in the scope of consolidation, and on the other hand the immunodiagnostics and molecular diagnostics businesses not related to the pandemic. in particular, the overall contribution of Luminex to group revenues in the first half year amounted to 1 million.
After the communication of the quarterly data, the title di Diasorin jumped by over 4% on the Stock Exchange, only to then lose ground and settle just above parity (0,49% to 133,85%).
Diasorin: profit above expectations in the first half of 2022
In particular, the revenues of immunodiagnosticto ex-Covid they grew by 10%, driven in large part by positive trends in tests for the diagnosis of latent tuberculosis, infectious disease panels and gastrointestinal infections. Ex-Covid molecular diagnostics revenues up 170,9% as a result of growth in testing DiaSorin and the contribution of luminex. Licensed technologies revenues amounted to 106 million. The good performance of sales of tools and consumables relating to xMAP technology was also confirmed. The sales of serological tests e molecular for Covid, equal to 150 million, although higher than the guidance initially provided, decreased by 15,5% compared to the first half of 2021.
Il adjusted EBITDA increased by 10,2%, going from 244,2 million to 269,1 million euro; however, margins decreased from 47,4% to 39,3%, mainly following the inclusion of Luminex in the scope of consolidation. At constant exchange rates theEbitda it would have risen by 4,1%. L'adjusted net profit rose from 162,5 million to 168,6 million euros; the net profit was equal to 140,8 million euro.
In the second quarter of 2022 alone the turnover of Diasorin rose by 31,8% to 327,8 million euros (+22% at constant exchange rates), while adjusted net profit fell by 4% to 72,3 million.
At the end of June 2022 thenet borrowing of Diasorin had risen to one billion euros, compared to 985,9 million at the beginning of the year, following the payment of dividends to shareholders for 56 million, to the net purchase of treasury shares for 65 million and to a negative exchange effect on the net position in dollars. In the entire half-year, the company's operating activities generated a cash flow of 139 million euro, while investments amounted to 49,6 million.
The new guidance for 2022
Based on the results achieved, the company finally raised the guidance on revenues and margins by the end of 2022. In detail, the diagnostics company expects to close the year with revenue growth of 2% (of which revenues relating to Covid products of around 200 million and ex-Covid revenues up by around 24%) . The adjusted Ebitda margin should be around 38%.
