Siegfried reports profitable growth in 2024, despite ‘substantial’ headwinds

Swiss-based contract development and manufacturing organization Siegfried reported continued profitable growth in 2024, with net sales reaching nearly CHF 1.3 billion, a 3% increase in local currencies.

The company reported that it’s strong underlying business offset “substantial” headwinds, including the phase-out of vaccine production and destocking effects. Core EBITDA rose 4.5% to CHF 285.6 million, expanding the margin to 22.1%, while core net profit saw a significant 24% increase to CHF 158.9 million.

The company made strides in executing its EVOLVE+ strategy, introduced in October 2024, which focuses on commercial, development, and operational excellence alongside targeted acquisitions.

Last year, Siegfried’s investments in infrastructure included the acquisition of a CDMO in Wisconsin, the opening of a new quality control lab in Minden, Germany, the launch of laboratories at Swiss-based Siegfried DINAMIQS to support growth in the cell and gene therapy market, as well as a new R&D center for drug substances in Evionnaz, Switzerland.  

Looking ahead, Siegfried forecasts mid-single-digit sales growth in local currencies for 2025, with a core EBITDA margin above 22%. The company reaffirmed its positive mid-term outlook, expecting continued profitable growth above market levels, excluding mergers and acquisitions.

Siegfried specializes in manufacturing pharmaceutical active ingredients (APIs) and intermediates, along with a range of drug products including tablets, capsules, sterile vials, ampoules, cartridges, and ointments. The company also offers development services to pharma partners.