Siegfried rises on better-than-expected H1 results
** Shares in Siegfried Holding SFZN.S rise 1.9% in Julius Baer pre-market trade after the Swiss pharmaceutical company posted better-than-expected H1 results and confirmed its FY outlook
** Siegfried posted H1 core EBITDA of 132.1 million Swiss francs ($155.30 million), compared to 125.7 million a year earlier
** "Core EBITDA margin increased to 21.3%, slightly ahead of expectations despite the high base due to highly profitable COVID-19 sales in H1 2023 and none in H1 2024," Vontobel says
** The broker says that the company's H1 top-line results came better-than-expected for this year
** "Siegfried has gained momentum, the business looks better and the results are on track and solid," it adds
** The stock, which has gained 16.8% YTD, is seen at the top of Swiss mid-cap index .SMIM
($1 = 0.8506 Swiss francs)
Reporting by Ozan Ergenay
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