Fri 03/10/2023 11:52 AM
Aenova reported a 9.3% drop in adjusted EBITDA for 2022 despite a strong recovery in the final quarter after being unable to pass through surging input costs in full. The German pharma contract development and manufacturing organization, or CDMO, is budgeting EBITDA to grow 7.4% in 2023, however it expects free cash flow to remain negative as a result of rising interest costs, sources said.
Sales reached €749.2 million in 2022, just short of €752.4 million budgeted but up 7.5% from €696.8...
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