January 30, 2025 07:19 GMT
HEALTHCARE: Eurofins (ERFFP: Baa3/_/BBB-): FY24 Results
HEALTHCARE
- Good results for Eurofins
- Revenue €6,951 +6.7% yoy
- Adj EBITDA €1,552 +13.7% yoy
- Adj Margin 22.3% up 190bps close 24% target
- Margins in Europe 16.8% increased +280bps .. Closer to US levels of 27.1%
- Cash conversion 56%
- NetDebt/AdjEBITDA 1.9x down 0.1x. Target Range is 1.5-2.5x with a bias toward lower end for 2027
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