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SYNLAB announces upward revision of FY'21 guidance

SYNLAB AG / Key word(s): Results Forecast
SYNLAB announces upward revision of FY'21 guidance

05-Oct-2021 / 20:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Following the completion of our full-year forecast and with the July to September period showing higher-than-expected SARS-CoV-2 testing levels, driven by the development of the Delta variant, SYNLAB is raising its FY'21 guidance.

Revenue is now expected to be around EUR 3.5 billion (previously: EUR 3.2-3.3 billion) in FY'21. This represents total growth of 34% (previously: 22-25%) compared with FY'20.

Adjusted EBITDA margin of around 30% is expected in FY'21, leading to an adjusted EBITDA in excess of EUR 1 billion (previously: "exceed EUR 925 million"), compared with EUR 679 million in FY'20.

Unlevered free cash flow (pre-M&A) is expected to be around EUR 700 million in FY'21 (previously: "exceed EUR 500 million") compared with EUR 272 million in FY'20.

SYNLAB will comment on short-term dynamics, including its underlying business performance, and provide further details on its outlook with its non-audited Q3 results, on 10 November 2021.

Statements made in this document may include forward-looking statements. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words "believes," "expects," "expected," "may," "will," "would," "should," "seeks," "pro forma," "anticipates," "intends," "plans," "estimates," "estimated," or the negative of any thereof or other variations thereof or comparable terminology, or by discussions of strategy or intentions. These statements are not guarantees of future actions or performance and involve risks, uncertainties and assumptions as to future events that may not prove to be accurate. Actual actions or results may differ materially from what is expressed or forecasted in these forward-looking statements. As a result, these statements speak only as of the date they were made and SYNLAB undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. It should be noted that past performance is not a guide to future performance. Interim results are not necessarily indicative of full-year results.
Certain data included in this document (adjusted EBITDA, unlevered free cash flow) are "non-IFRS" measures. For a definition of these measures, please refer to SYNLAB H1'21 press release dated 12 August 2021.

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Language: English
Company: SYNLAB AG
Moosacher Stra├če 88
80809 Munich
Phone: +49 1701183753
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1238542

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Last Updated: 05-Oct-2021