(CercleFinance.com) – Novacyt sank into the red on Tuesday on the Paris Stock Exchange, falling to two-year lows, after a point of activity during which he mentioned the volatile nature of demand for tests.
In his press release, the diagnostic specialist underlines that the evolution of the Covid-19 pandemic is “unpredictable”, as is also the case for the demand for tests.
In this context, the company says it expects sales related to Covid-19 testing to be reduced by around 50% in 2022 compared to 2021.
Novacyt specifies however that this loss of activity will be partially compensated by the new ‘non-Covid’ products, which will begin to be marketed in the fourth quarter of 2022.
Regarding its results for the year 2021, the company reports turnover and EBITDA ‘in line with expectations’, but its accounts rather show figures slightly lower than forecast.
Its annual turnover thus amounts to £95.8 million, compared to £277.2 million for the financial year 2020, excluding the £40.8 million of turnover. related to the contract with the UK Department of Health and Social Care (DHSC), which is the subject of litigation.
By way of comparison, the company had set itself a revenue target of around £100 million for 2021.
Full year 2021 EBITDA before exceptional items is expected to be above £36 million, compared to £176.1 million in 2020.
On this basis, the group’s margin is expected to be above 37%, where management was expecting around 40%.
At 9:40 am, the title fell by more than 16%, accusing by far the largest drop in the Paris market.
The share has already suffered in recent months from investor disaffection after signing the best performance on the Paris market in 2020 with a price multiplied more than 50 times.
Over the past month, the Franco-British biotech has lost more than 41% of its value.
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