For Italy it would perhaps be a good thing if there were so many Diasorin, a company committed to the most advanced research in molecular diagnostics, world leader in some specialized areas of in vitro diagnostics such as analysis for vitamin D, capable of growing in the last ten years by an average of 20%, going from a loss of 10 million out of 90 in turnover to the 450 million expected for this year (404 million in 2010) with an operating margin of 200 million and profitability, therefore , by 44%.
But analysts were expecting a turnover of at least 10 million higher and so the stock fell on the Stock Exchange, immediately and net losing almost 10% just as Carlo Rosa was illustrating the 2012-2015 industrial plan in Milan – the first stage of a road show that will take him to London tomorrow and Thursday to New York.
Rosa, accompanied by the president of the company, Gustavo De Negri who is also the main shareholder of the IP managed by his son Michele, explained that at the end of the four-year period a turnover between 630-680 million is expected with an ebitda of around 280 million. The company also announced a €20 million share buyback.
These results will have to be obtained through a series of directions: 1) specifically the launch of new products under development for both large established markets (eg, infectious diseases) and medium-sized specialty clinical areas (eg, gastrointestinal diseases); ); 2) molecular diagnostic products to complement and support immunodiagnostics; 3) management of the leadership position of vitamin D "of which - Rosa specified - we now have 44% of the world market"; 4) finally, further geographical expansion.
“The company – said the CEO in this regard – aims to conquer significant market shares in countries where the presence to date is not significant, such as India and Japan, where the group is dramatically absent. And in Japan we are looking to see if we can make acquisitions while in India we are looking for joint ventures with industrial partners”.
Rosa then added that any acquisitions, in the order of 100-150 million in turnover, will take place “where the market offers the best opportunities. The China? So far there is nothing to invest in. We operate there with state joint ventures”. And the president De Negri (“non-operative president”, he is keen to clarify) specified that “we are carrying out a screening on the markets. We invest for growth and any acquisitions will only take place at logical and reasonable prices”.
Even in the afternoon meanwhile the stock continues to leave more than 7% on the ground fluctuating around 26 euros. Before the storm that the sovereign debt hit on the world stock exchanges, during the year the stock had reached the maximum ceiling at 36,59 euros, practically three times the price of the 2007 IPO.
