Ergomed Sees 2022 Adjusted Earnings Meeting Market Views; Names New CFO

By Joe Hoppe

Ergomed PLC said Wednesday that it expects to report an adjusted Ebitda for 2022 in line with market expectations while revenue rose, and appointed Jonathan Curtain as incoming chief financial officer.

The services provider to the pharma industry said revenue for the year ended Dec. 31 rose 23% to 145.3 million pounds ($179.1 million), meeting market expectations on strong organic and acquisition-related growth.

The company said it expects adjusted earnings before interest, taxes, depreciation and amortization--which strips out exceptional and other one-off items--for 2022 to meet market expectations, but didn't provide a figure. In 2021, it reported adjusted Ebitda of GBP25.4 million.

Ergomed's order book grew 23% to around GBP295 million, "providing excellent forward visibility," it said.

The company said it enters 2023 with a positive outlook, continuing to take market share and enjoying a resilient position.

Ergomed also said deputy CFO Mr. Curtain will take over the role as finance chief on Feb. 3 from Richard Barfield, who intends to retire. Mr. Curtain joined the company in November, having most recently held the role of senior vice president of corporate and commercial finance at ICON PLC.

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(END) Dow Jones Newswires

January 25, 2023 05:14 ET (10:14 GMT)

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