Thomas Meier, CEO of Bachem, on the results of fiscal year 2024:
"Thanks to a strong order volume and efficiency measures on existing equipment, we were able to reach our financial targets in 2024 and once again increase sales and profit. At the same time, we are vigorously building up new capacity in order to manufacture peptides at ton-scale for medicines in urgent demand. With over 2 200 dedicated colleagues, we are very confident that we will successfully master this largest expansion and change process in our company’s history."
Group results
Bubendorf, Switzerland--(Newsfile Corp. - February 27, 2025) - The Bachem Group (SIX: BANB) increased sales in Swiss francs by 4.8% to CHF 605.3 million in 2024. In local currencies, sales increased by 5.6%.
Operating income before depreciation and amortization (EBITDA) increased by 5.7% to CHF 176.3 million (local currencies: +7.7%), which translates into an EBITDA margin of 29.1% (2023: 28.9%). In local currencies, the EBITDA margin amounted to 29.4%.
Operating income (EBIT) rose by 2.8% to CHF 133.0 million (local currencies: +5.3%). The EBIT margin in the reporting year was reduced to 22.0% (2023: 22.4%), primarily due to increased depreciation and amortization on new investments.
Net income grew to CHF 120.2 million (+7.5%) with a margin of 19.9% (2023: 19.4%).
Sales by product category
Bachem achieved sales of CHF 327.0 million (2023: CHF 309.0 million, +5.8%) with commercial active ingredients (Commercial API). This was mainly due to a strong increase in sales of patent-protected peptides.
In the clinical medicines category (CMC Development), sales increased to CHF 234.4 million (2023: CHF 227.5 million, +3.0%) driven by strong peptide-based development projects.
Business with research chemicals and specialty products (Research & Specialties) grew to CHF 43.8 million (2023: CHF 40.8 million, +7.5%), among other things thanks to higher sales of peptides for use in diagnostics.
Substantial capacity expansion
Bachem is pursuing an investment program to expand capacity at all sites. CHF 292.2 million were invested in 2024. In addition to expansion, Bachem is also continuously optimizing the utilization of existing buildings and facilities to achieve operational improvements.
Bachem began construction of the world's most advanced production plant for large volumes of peptides and oligonucleotides in 2021 (building “K”) in Bubendorf. The first manufacturing equipment in the building is in commissioning and qualification. Transition to the production of first test batches is intended to take place as planned from the 2nd quarter of 2025. The successful ramp-up of commercial production in the building is a key prerequisite for achieving the revenue target in 2026.
For a further manufacturing site planned in Sisslerfeld in the Swiss municipality of Eiken, Bachem purchased a third portion of land in the first half of 2024. Bachem intends to refine a site development plan (“Entwicklungsrichtplan”) for the authorities ahead of pursuing first construction applications in 2025.
Bachem continues to invest in its entire network of sites, focusing on site-specific core competencies. In the US, high-volume capacity at the Vista site is being expanded. In Torrance, Bachem is focusing on promising small-volume clinical projects, while investments at the Vionnaz site in Western Switzerland are aimed at securing the supply of key precursors.
Outlook
For 2025 Bachem expects growth in local currencies between 10% and 15%. The EBITDA margin in local currencies should be in the high twenties. The company plans to make CAPEX investments of more than CHF 400 million in 2025. Based on current orders, the company aims for annual sales of more than CHF 1 billion and an EBITDA margin of over 30% in 2026.
April 30, 2025 May 7, 2025 July 24, 2025 March 12, 2026
Annual General Meeting (business year 2024) Payout date for dividend Publication of Half-Year Report 2025 Publication of Annual Report 2025; Media and Analyst conference
About Bachem
Bachem is a leading, innovation-driven company specializing in the development and manufacture of peptides and oligonucleotides. The company, which has over 50 years of experience and expertise, provides products for research, clinical development, and commercial application to pharmaceutical and biotechnology companies worldwide and offers a comprehensive range of services. Bachem operates internationally with its headquarters in Switzerland and sites in Europe, the US and Asia. The company is listed on the SIX Swiss Exchange. For further information, see www.bachem.com.
For more information:
Media
Dr. Daniel Grotzky Head Group Communications Tel.: +41 58 595 2021 Email: media@bachem.com
This publication may contain specific forward-looking statements, e.g. statements including terms like "believe", "assume", "expect", "forecast", "project", "may", "could", "might", "will" or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of Bachem Holding AG and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties, readers should not rely on forward-looking statements. Bachem Holding AG assumes no responsibility to up-date forward-looking statements or to adapt them to future events or developments.
