WuXi AppTec Reports First Quarter 2024 Financial Results: Solid Performance with Continued Growth in R&D Services

30 April 2024 | Tuesday | Company results

WuXi AppTec (603259.SH / 2359.HK), a global leader in R&D and manufacturing services for the pharmaceutical, biotechnology, and life sciences industries, today announced its financial results for the first quarter ended March 31, 2024.
Image Source : Public Domain

Image Source : Public Domain

First Quarter 2024 Financial Highlights:

  • Revenue of RMB 7,982 million, with a slight decrease of 1.8% in non-COVID-19 commercial projects, underscoring the robust core business growth.
  • Net Profit attributable to owners reached RMB 1,942 million, with diluted earnings per share (EPS) at RMB 0.66.
  • Adjusted Non-IFRS Net Profit was RMB 1,913 million, with adjusted diluted EPS of RMB 0.65.
  • Free Cash Flow remained strong at RMB 1,326 million, emphasizing the company’s financial health and operational efficiency.

Operational Highlights:

  • Added over 300 new customers, bringing the total active customer count to over 6,000 globally in the last 12 months.
  • Revenue from top 20 global pharmaceutical companies grew by 4.2% year-over-year, excluding COVID-19 projects.
  • Continued expansion in the CRDMO (Contract Research, Development, and Manufacturing Organization) sector with 337 new molecules added to the development and manufacturing pipeline.

Management Commentary: Dr. Ge Li, Chairman and CEO of WuXi AppTec, stated, “Our first quarter results reflect our strong fundamentals and our ability to execute our growth strategies effectively. Despite some uncertainties in global markets, we continue to deliver on our commitment to provide world-class services to our clients and contribute to global healthcare innovation.”


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