– Ypsomed is growing in the first half of the year and doubling its earnings
The insulin injection business is booming: Ypsomed more than doubled sales and profits in the first half of fiscal 2022/23.
Sales at Burgdorf-based medical technology company Epsomed rose 9.7% to CHF 244.2 million in the first half of September. Business with pens increased by approximately 26%, resulting in growth of approximately 22% to 143.7 million in the Delivery Systems division. On the other hand, sales in its diabetes care division fell 3.4% to 92.0 million, Ypsomed announced Wednesday.
At the same time, Ypsomed has been able to significantly improve profitability. Operating result (EBIT) was almost twice as high at CHF 19.4 million and net profit more than doubled to CHF 15.4 million.
The profit should continue to increase
The medical technology company is in a positive mood for the rest of the 2022/23 fiscal year. In terms of sales, growth is expected in the prior year range of business continuation – in financial year 2021/22 sales increased by 15.5 per cent.
Ypsomed’s business relies less on macroeconomic cycles because the company makes products for people with chronic illnesses, said the press release about Ypsomed’s CEO.
The company expects a significant improvement in EBIT of at least 50 percent for the current fiscal year. And in the 2023/24 fiscal year, Ypsomed wants to double its operating result over the previous year. Thus, the medical technology company confirms its previous goals.