(Boursier.com) — The manufacturer of active pharmaceutical ingredients Euroapi has revised its 2023 targets downward, now forecasting revenue growth of between +3% and +5%, compared to +7% to +8% previously.
Euroapi explains this slowdown by lower sales than expected in the fourth quarter for the CDMO activity or by inventory reduction programs with certain customers for API Solutions.
The Core EBITDA margin is now expected to be between 9% and 11%, compared to 12.5% and 13.5% previously expected. The investment objectives remain unchanged, and are between 120 and 130 million euros.
On the basis of these elements, Euroapi announces that it is initiating a strategic review in order to adapt its operational model. The 2023-2026 medium-term outlook, communicated in March 2023, is suspended. The company plans to communicate more information on the conclusions of the strategic review no later than February 29, 2024, on the occasion of the publication of the results for the year 2023.
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