KRAKÓW, Poland, Sept. 24, 2024 /PRNewswire/ -- Selvita S.A. (WSE: SLV), one of the leading preclinical contract research organizations in Europe, has published its financial results for Q2 2024, earnings estimates for Q3 204 and backlog for 2024 and 2025.
Financial and Operational Highlights
Selvita reports revenue growth in each subsequent quarter of 2024. In Q2 2024, commercial revenues were 6% higher than in Q1. Published estimates for Q3 suggest the rebound will continue, with the company expecting to generate between EUR 20.2 million and EUR 20.6 million in organic revenue. This implies 9-12% q/q and 7-10% y/y growth. The Group's EBITDA(1) margin for Q3 is projected to reach 15-18%, representing an improvement of 5-8 p.p. from the previous quarter.
The contracting level for H2 2024 is 12% higher compared to the same period in the previous year(2). Meanwhile, the backlog for next year is 32% higher than it was in September 2023.
Selvita has observed a gradual improvement in global biotech sector financing. Over the past six months, it reported four significant cooperation agreements, compared to two during all of 2023. At the same time, contracting for 2024 from big pharma(3) companies stands currently at EUR 17.9 million, 28% higher than the revenue generated by this group of customers in the entirety of 2023.
In Q2 2024, the Company completed transactions related to the launch of a new site in Wroclaw, dedicated to biological drug discovery and development, as well as the acquisition of PozLab, a CDMO offering services for small molecule drug development. The integration of these new sites is progressing as planned and is at its final stage.
"After a challenging first half of the year, we believe to have returned to solid organic revenue growth in the second quarter, which is ...
