Lonza Delivers Strong 2021 performance with 20% CER Sales Growth
Lonza Group AG / Key word(s): Annual Results
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- Lonza delivers CHF 5.4 billion sales and 20% CER1 sales growth
- CHF 1.7 billion CORE EBITDA resulted in a margin of 30.8%
- 2021 CAPEX reached 24% of sales, supporting long-term plan to deliver attractive margins through de-risked growth investments
- Continuing focus on operational excellence and execution of growth projects
- Outlook 2022: low to mid-teens CER sales growth and CORE EBITDA margin improvement in line with 2024 Mid-Term Guidance
- Mid-Term Guidance 2024 reconfirmed
Basel, Switzerland, 26 January 2022 - Lonza has reported sales of CHF 5.4 billion, growing 20% AER (20% CER) and CHF 1.7 billion CORE EBITDA, resulting in a margin of 30.8%. This strong momentum at Group level was driven by sales growth ahead of market across all divisions. The margin improvement was achieved through productivity improvements which were partially offset by the dilutive effect of ramping up growth projects and a negative mix. Reported EBITDA was impacted by the provision of CHF 285 million for the environmental remediation of the old Gamsenried landfill, with no impact on CORE EBITDA and cash flow.
Through 2021, Lonza continued to execute its ongoing organic growth projects, as well as confirming new investments. For the Full Year, the total CAPEX reached CHF 1.3 billion or 24% of sales, and it is expected to increase to around 30% in 2022. These investments are focused on delivering the company's long-term investment strategy to capture growth opportunities at attractive margins while minimizing risk. This level of investment was supported by free cash flow, alongside the proceeds from the divestment of Lonza's former Specialty Ingredients business. The company's internal growth investments were accompanied by a selective approach to bolt-on acquisitions. Lonza's new exosomes sites in Lexington (US) and Siena (IT) have expanded its offering in this important emerging area, reflecting its focus on differentiating through innovation.