bullish
Wuxi Biologics (2269 HK): 2024 Revenue Meets Guidance; Poised for Accelerated Growth in 2025
301 Views26 Mar 2025 16:13
SUMMARY
- Wuxi Biologics (2269 HK) has reported 2024 result, with revenue growing 10% YoY to RMB19B and net profit increasing 11% YoY to RMB4B. Revenue from non-COVID business increased 13% YoY.
- Total backlog reached $18.5B as of December 31, 2024, including $10.5B service backlog and $8.0B upcoming potential milestone fees, while the total backlog within three years stood at $3.7B.
- Wuxi Biologics guided for 12–15% YoY revenue growth for 2025. Revenue from continuing operation (excluding revenue from Ireland Vaccines) is expected to grow 17–20% YoY in 2025.
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Tina Banerjee
Global Healthcare Analyst
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- Wuxi Biologics (2269 HK): 2024 Revenue Meets Guidance; Poised for Accelerated Growth in 202526 Mar 2025
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