ABCAM PLC: Prelim results, outlook

 Abcam plc ("Abcam," "Company," "Group") (Nasdaq: ABCM), a global leader in the supply of life science research tools, today provides the following preliminary trading update for the half ending 30 June 2023.

Preliminary results

Period	Estimated Reported Revenue	Estimated Adjusted Operating Profit %
H1 2023	>£203 million	>26%

 

First half 2023 estimated revenues grew approximately 10% on a reported basis or 5.5% on a constant exchange rate basis as compared to 20% growth on a constant exchange rate basis in the comparable prior period. Adjusted operating profit margin is up by approximately 300 basis points to >26% for the half. Total revenue and adjusted operating profit are trending in-line with first half and full year 2023 Board expectations.

The company continues to see improvements in transactional Net Promoter Score, exiting H1 at +37 for June.

Note:

This trading update is based upon unaudited management accounts and has been prepared solely to provide additional information on trading to the shareholders of Abcam plc. All figures are provisional and subject to further review. It should not be relied on by any other party for other purposes. tNPS score reflects June 2023 month end, the six-month average was +13.

FY2023 Outlook

The Company is reiterating reported revenue guidance of £420 million to £440 million, representing 15% to 20% constant exchange rate revenue growth and adjusted operating profit margins of 27% to 28% with expected adjusted EBITDA margins of 36.5% to 37%.

Adjusted operating profit margins will exclude exceptional costs related to the suspended EGM, strategic review and the ongoing cost refinement program.

The Company will present half-year 2023 results on 31 August 2023 at 4:30pm EDT.

FY2024 Outlook

The Company is reiterating 2024 reported revenue outlook of £475 million to £525 million[1], adjusted operating profit margins of 32% to 36%, and adjusted EBITDA margins of 42% to 46%.

https://finance.yahoo.com/news/abcam-plc-trading-201500499.html