LONDON (dpa-AFX) - Biotechnology company Oxford Biomedica Plc (OXB.L) announced on Monday that it expects to record revenues between 127 million pounds to 129 million pounds in fiscal 2024. The expected revenue growth is in line with the company's outlook of between 126 million pounds and 134 million pounds.
The company added that the revenue numbers are 42 percent-44 percent higher than full-year 2023. Oxford Biomedica also expects an organic growth of between 78 percent to 81 percent in fiscal 2024, which excludes the impact of the acquisition of OXB France and the loss of revenues from Homology Medicines, Inc.
For the year ahead, the company is projecting a mid to high-teens operating EBITDA loss. This is mainly due to the integration of OXB France and investments made in technical and operational hires to support increased client activity. Oxford Biomedica added, 'With the UK site becoming profitable at the operating EBITDA level in the second half of 2024 and the France and US sites expected to have narrowing losses, the company is confident of its ability to deliver sustainable profitability.'
For the second half of 2024, the company expects an operating EBITDA profit.
The company said that during 2024, the contracted value of client orders signed reached nearly 186 million pounds as of December 31, up 30 percent from the 138 million pounds recorded last year.
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