Corporate Banner
Satellite Banner
Technology
Networks
Scientific Communities
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Novasep Reports Full Year 2013 Results

Published: Friday, March 28, 2014
Last Updated: Friday, March 28, 2014
Bookmark and Share
Results show strong growth and beating guidance.

Novasep has announced its unaudited consolidated results for the period ended December 31, 2013.

The company is excited by the performance achieved through the year including:
• 8 per cent revenue growth, reaching EUR 316m
• 15 per cent EBITDA growth and increase of almost EUR 5m and reaching EUR 38.5m, meaningfully ahead of investor guidance for the year
• Improvement in performance in every division of the business
• Net cash flow from operations of EUR 16m, from EUR 6m in 2012
• On-time and on-target performance in its key customer commitments, including the building of the largest chromatography plant located in Mourenx, expected to be operational during summer 2014

Financial results and business review
For the full year 2013, Novasep achieved sales of EUR 315.7m (plus 7.6 per cent increase vs. the same period of 2012), and adjusted EBITDA of EUR 38.5m (plus 14.6 per cent increase vs. adjusted EBITDA of the same period of 2012). This result was achieved with growth and improvement in performance in every division.

For the synthesis segment, sales increased by about plus 5.2 per cent up to EUR 155.1m: loss of sales in legacy pharma contracts have been fully compensated by increased sales in agro and specific pharma markets, in particular highly potent ingredients for cancer therapies. Division EBITDA of EUR 14.4m is growing strongly, up 18 per cent over last year as costs were contained while revenues grew.

The biopharma segment grew 14 per cent to EUR 52.5m excluding internal sales (up an even more impressive 33 per cent and up to EUR 61.2m including chromatography equipment for the Leffe project of EUR 9m). EBITDA jumped by 125 per cent up to EUR 5.4m, (plus 100 per cent excluding Leffe project equipment contribution). The revenue increase is driven both by growth of sales of equipment and company’s improved performance in the CMO biopharmaceutical segment.

The industrial biotech segment 2013 sales have remained stable (minus 0.9 per cent vs. 2012) at EUR 57.5m. At the same time, thanks to supply chain improvements, EBITDA has gone up by 19 per cent to EUR 5.7m.

The pharmachem segment shows a 9.4 per cent increase in sales (5.6 per cent in USD) and a 2.5 per cent increase in EBITDA.

The net cash flow from operations of EUR 16m, up from EUR 6.3m in 2012, was achieved through improvement in operating results coupled with decrease in working capital, mainly driven by inventories and overdues reductions. At the end of 2013, Novasep had net debt of EUR 132m (vs. EUR 128m at end 2012) and cash on hand of EUR 40m (vs. EUR 41m at end 2012).

Recent events and prospects for 2014
The new management team is on the ground and driving the business. Thierry van Nieuwenhove was appointed head of the synthesis business unit in early January. The process division has split into two different business units; biopharma, managed by Alain Lamproye, and industrial biotech, managed by Nadege Laborde.

In addition, Michel Spagnol, CEO of Novasep, was appointed chairman of the supervisory board on March 4th, 2014. The company is establishing a new management and marketing center in Lyon Gerland to be closer to its key customers, to be operational in the fourth quarter 2014.


Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,500+ scientific posters on ePosters
  • More Than 3,800+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Novasep Invests €10M to Reinforce its Bioconjugation Services
Expansion marks the company’s readiness for full range Antibody Drug Conjugates CMO services.
Thursday, June 25, 2015
Novasep Further Strengthens Management Team
Pierre-Louis Mikus joins as chief legal officer and Bertrand Waymel is promoted to group human resources director.
Wednesday, May 06, 2015
Novasep and Celladon Execute MYDICAR API Supply Agreement
An innovative, genetically-targeted enzyme replacement therapy based on AAV1/SERCA2a.
Thursday, March 26, 2015
Novasep & Celladon Partner
Novasep has entered into an agreement with Celladon, to commercially biomanufacture Celladon’s Mydicar API.
Tuesday, February 24, 2015
Novasep Enters into an Agreement with Celladon
Company selected to commercially biomanufacture Celladon's Mydicar API.
Thursday, February 19, 2015
Novasep Opens New Office in Thailand
Novasep’s extended presence in South East Asia strengthens the company’s ability to address growing needs in the region’s food and feed markets.
Saturday, December 27, 2014
Novasep to Sell its Bahamian Plant to Local Investor
Company has completed the sale of the Bahamian facility and related business of its fully-owned subsidiary, Pharmachem.
Thursday, October 09, 2014
Novasep Passes FDA Inspections on Two Sites
Novasep wins approval to produce new molecular entity for US market.
Thursday, July 24, 2014
Novasep’s €4 M ADC Manufacturing Plant Extension Commissioned
The new Highly Potent API manufacturing capacity at the Le Mans facility will boost Novasep’s ability to meet customer demand for producing anti-cancer therapies.
Friday, May 16, 2014
Novasep Appoints CEO Michel Spagnol as Chairman
Novasep presents strategic developments.
Wednesday, March 05, 2014
Novasep Expands and Opens Subsidiary in India
Subsidiary to meet India’s increasing need for high efficacy processes for its fast growing food and feed industries.
Friday, February 14, 2014
Novasep Attracts Top Talent to Complete its Executive Team
Thierry Van Nieuwenhove, a seasoned CMO top executive, joins Novasep as president of the Synthesis Business Unit.
Monday, January 20, 2014
Novasep Expands and Opens Subsidiary in India
Novasep Process Engineering Services PVT LTD will meet India’s increasing need for high efficacy processes for its fast growing food and feed industries.
Monday, December 16, 2013
Novasep Opens Indian Subsidiary
New office will meet India’s increasing need for high efficacy processes for its fast growing food and feed industries.
Tuesday, December 10, 2013
Novasep Appoints Nadege Laborde as President of its Industrial Biotech Business Unit
This internal promotion strengthens the business unit and enhances the Executive Committee (COMEX).
Friday, November 22, 2013
Scientific News
NIH Study Finds Calorie Restriction Lowers Some Risk Factors for Age-Related Diseases
Two-year trial did not produce expected metabolic changes, but influenced other life span markers.
Immunotherapy Agent Benefits Patients with Drug-Resistant Multiple Myeloma in First Human Trial
Daratumumab proved generally safe in patients, even at the highest doses.
Low-level Arsenic Exposure Before Birth Associated with Early Puberty in Female Mice
Study examine whether low-dose arsenic exposure could have similar health outcomes in humans.
Inciting an Immune Attack On Cancer Cells
A new minimally invasive vaccine that combines cancer cells and immune-enhancing factors could be used clinically to launch a destructive attack on tumors.
‘Mutation-Tracking’ Blood Test for Breast Cancer
Scientists have developed a blood test for breast cancer able to identify which patients will suffer a relapse after treatment, months before tumours are visible on hospital scans.
Cellular Contamination Pathway for Heavy Elements Identified
Berkeley Lab scientists find that an iron-binding protein can transport actinides into cells.
Intensity of Desert Storms May Affect Ocean Phytoplankton
MIT study finds phytoplankton are extremely sensitive to changing levels of desert dust.
Common ‘Heart Attack’ Blood Test May Predict Future Hypertension
Small rises in troponin levels may have value as markers for subclinical heart damage and high blood pressure.
LaVision BioTec Reports on the Neuro Research on the Human Brain After Trauma
Company reports on the work of Dr Ali Ertürk from the Institute for Stroke and Dementia Research at LMU Munich.
NIH Study Shows No Benefit of Omega-3 Supplements for Cognitive Decline
Research was published in the Journal of the American Medical Association.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,500+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
3,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FREE!