Switzerland-based Lonza Group (SWX: LONN) was trading nearly 3% lower by lunchtime Wednesday after presenting its financial results for 2024.
The Basel-based company reported 2024 sales of 6.6 billion Swiss francs ($7.3 billion), a 2% decrease compared to the prior year, and core earnings before interest, taxes, depreciation and amortization (EBITDA) were down nearly 5% at 1.91 billion Swiss francs.
Nonetheless, Lonza stressed that, adjusted for the COVID-related mRNA business and the related termination impact in 2023, the company did achieve growth in both sales and core EBITDA.
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