SYNLAB announces upward revision of FY'21 guidance

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

08-Jul-2021 / 18:38 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.

In view of better-than-expected H1'21 trading, driven by robust growth of the underlying business and higher-than-expected SARS-CoV-2 momentum, SYNLAB is raising its FY'21 guidance.

Revenue is now expected to be within a range of EUR 3.2-3.3 billion in FY'21 (previously: "comfortably exceed EUR 3.0 billion") with total growth expected within a range of 22-25% (previously: ~17%) compared with FY'20.

Adjusted EBITDA is expected to exceed EUR 925 million in FY'21 (new guidance), compared with EUR 679 million in FY'20.

Unlevered free cash flow (pre-M&A) is expected to exceed EUR 500 million in FY'21 (previously: EUR 300-350 million) compared with EUR 272 million in FY'20.

SYNLAB will publish the full H1'21 financial results and provide further details with its non-audited results on 12 August 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 Q1'21 press release dated 12 May 2021.

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