ABCAM PLC First Half Trading Update
CAMBRIDGE, England, July 20, 2022 /PRNewswire/ — Abcam plc (“Abcam”, “Company”, “Group”) (AIM: ABC) (Nasdaq: ABCM), a world leader in the supply of life science research tools, today provides the following business update for the six-month period ending June 30, 2022. The Company will release its full results for the six-month period on September 12, 2022.
The Group expects to report total revenue for the six-month period of approximately £185 million, representing growth of 19% (including Biovision) at constant exchange rates (CER) and 23% on a declared basis.
Revenue growth continues to be driven by internal catalog sales, resulting in an increase in gross margin. As the multi-year period of growth investments begins to moderate, we expect to deliver operational efficiencies enabling year-over-year adjusted operating margin growth in line with Board expectations. administration.
The Group continues to anticipate total CER revenue growth of approximately 20% (including BioVision) with organic CER revenue growth in the mid-teens.
SHARE TRADING, LIQUIDITY AND LISTING
After having consulted the shareholders on the options for increasing the liquidity of the shares, as announced on March 14, 2022, the Board decided to pursue a proposal to maintain a single listing on the Nasdaq and therefore to cancel the admission of the Company’s shares to trading on AIM. The Company will continue to consult with shareholders on this proposal in the coming weeks with the intention of submitting the proposal for shareholder approval at a general meeting called for this purpose later this year.
1 These results include a discussion of alternative performance measures that include revenue calculated at constant exchange rates (CER) and adjusted financial measures. The results in CERs are calculated by applying the actual exchange rates of the previous period to the results of this period. Adjusted financial measures are explained in Note 2 and reconciled to the most directly comparable measure prepared in accordance with IFRS in Note 4 to the interim financial statements.
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TomThomasCPA – Vice President, Investor Relations
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Tom Perry / Luka Kezic
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This trading update is based on unaudited management accounts and has been prepared solely to provide additional trading information to shareholders of Abcam plc. All figures are provisional and subject to revision. No other party should rely on it for any other purpose.
About Abcam plc
As an innovator in reagents and tools, Abcam’s goal is to help life science researchers around the world accomplish their mission faster. Providing the research and clinical communities with tools and scientific support, the Company offers highly validated antibodies, assays and other research tools to target important targets in critical biological pathways.
Already a pioneer in data sharing and e-commerce in the life sciences, Abcam’s ambition is to be the most influential company in the life sciences by helping to advance the global understanding of biology and causes of disease, which in turn will lead to new treatments and better health.
Abcam’s global customer base of approximately 750,000 life science researchers uses Abcam’s antibodies, reagents, biomarkers and assays. By actively listening to and collaborating with these researchers, the Company is continually evolving its portfolio to meet their needs. A transparent program of customer reviews and data sheets, combined with state-of-the-art validation initiatives, gives researchers increased confidence in their results.
Founded in 1998 and based in Cambridge, UK, the company has served customers in over 130 countries. Abcam’s common stock is listed on the London Stock Exchange (AIM: ABC) and its American Depositary Shares (ADS) trade on the Nasdaq Global Market (Nasdaq: ABCM).
For more information, please visit www.abcam.com or www.abcamplc.com
This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this announcement that are not statements of historical fact may be deemed to be forward-looking statements, including, without Limiting thereto, statements regarding Abcam’s portfolio and ambitions, expected performance for 2022 are not promises or guarantees, but involve known and unknown risks and uncertainties that could cause actual results to differ. materially from those projected, including, without limitation: a regional or global health pandemic, including the novel coronavirus (“COVID-19”), which has adversely affected certain elements of our business, could seriously affect our business, including due to impacts on our operations and supply chains; challenges in implementing our revenue growth strategies in light of competitive challenges; develop new products and improve existing products, adapt to significant technological changes and respond to the introduction of new products by competitors to remain competitive; failing to identify or integrate acquired businesses or assets into our operations or failing to fully recognize the anticipated benefits of the businesses or assets we acquire; if our customers discontinue or underspend on research, development, production or other scientific activities; fail to use, access and maintain information systems and implement new systems to manage our changing needs; cybersecurity risks and any failure to maintain the confidentiality, integrity and availability of our computer hardware, software and Internet applications and related tools and functions; failing to manage our current and potential future growth; failure to increase access to the US market, which we believe offers greater liquidity potential than AIM; any material disruption to our operations; if our products fail to meet applicable quality criteria, specifications and performance standards; fail to maintain our brand and reputation; our dependence on management and highly skilled employees and our ability to attract and retain such highly skilled employees; and the important factors discussed under “Risk Factors” in Abcam’s Rule 424(b) prospectus filed with the United States Securities and Exchange Commission (“SEC”) on October 22, 2020, which is filed with the SEC and available on the SEC’s website at www.sec.gov, as these factors may be updated from time to time in Abcam’s other filings with the SEC . All forward-looking statements contained in this announcement speak only as of the date hereof and, accordingly, undue reliance should not be placed on such statements. Abcam disclaims any obligation or undertaking to update or revise any forward-looking statements contained in this announcement, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
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