Novasep Announces 2016 Financial Results

Wednesday, May 31, 2017 General News
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LYON, France, May 31, 2017 /PRNewswire/ --

Sales are up 3.5% at 271 M

EBITDA is stable at 28 M

Novasep, a leading supplier of services and technologies for the life sciences industry,

today announces for 2016 a +3.5% increase of sales with a stable EBITDA at 28 million.

In 2016, Novasep's contract and development manufacturing services business (CDMO) continued its transition towards high profitability sectors. Successes have come from key projects such as the OMEGA-3 purification contract and from the general sales and assets reorganization. This supports the Group's ability to develop in services for growing sectors of the Pharmaceutical industry such as Antibody Drug Conjugates, Monoclonal Antibodies and Viral Vector based therapies.

Over the same period, the engineering and purification equipment services business showed a strong recovery as compared to 2015, thanks to the effective development of the Complete Process Line strategy. The Group has successfully divested its non-strategic stakes in TangenX Technology Corporation at the end of 2016.

Dr Michel Spagnol, CEO and Chairman of Novasep, commented: "Our 2016 results demonstrate again the relevance of Novasep's business model. We benefitted from a very strong activity in Biopharma, particularly in gene therapies, and this contributed to balance adverse conditions in the agrochemical market."

Outlook for 2017

Looking ahead to 2017, Novasep anticipates further revenue growth thanks to its robust backlog for both manufacturing and engineering services businesses and to the resilience of its business model despite changing market conditions.

"Novasep combines great innovation power, a strong presence in the most dynamic markets and a streamlined business organization.", Spagnol added: "We believe we are well on track to achieve our goals in terms of business and financial growth."

For press information, click here

SOURCE Novasep



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