Q3 2024 DiaSorin SpA Earnings Call Transcript
Key Points
- Diasorin SpA (WBO:DIAS) reported a strong quarter with double-digit growth of 10% excluding COVID-related sales.
- The immunodiagnostic segment saw an 11% year-over-year growth, with significant contributions from the US and Europe.
- The company's hospital strategy in the US is on track, aiming to reach 600 hospitals by 2027, with 100 new hospitals added annually.
- The molecular segment delivered a 6% growth, with the Plex launch showing promising customer engagement.
- The company has successfully managed operational costs, maintaining a gross profit margin of 66% despite inflationary pressures.
- China continues to present challenges, with single-digit declines and no expected improvement in the near future.
- The LTG business, despite a good quarter, is expected to be flat for the full year due to softness in the life sciences market.
- The company faces competitive pressures in China, with local companies being favored by hospital systems.
- There is a potential slowdown in growth anticipated for Q4, with expectations of only 3% to 4% growth.
- The company is cautious about the impact of the Italian payback tax, which could affect financials if the situation changes.
Good afternoon. This is the chorus call conference operator. Welcome and thank you for joining the Dio in third quarter, 2024 results conference call. As a reminder, all participants are in listen-only mode. After the presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call? They may signal an operator by pressing star and zero on your telephone.
At this time, I would like to turn the conference over to Mr. Carlo Rosa, CEO of Diasorin. Please go ahead, sir.
Thank you, Operator.
Good morning. Good afternoon and welcome to the quarter three UHA conference call. I'm going to give the usual qualitative comments and then Mr Pedron, our CFO is going to take you through the numbers. First, it was a very strong quarter for the author excluding COVID growth was double digit 10%. We haven't seen quarters double digit growth this way since COVID. And this is this means that the strategy sound launch of
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