WuXi AppTec Q1 2025 Revenue, Profit Resume Double Digit Growth, Revenue Up 21.0% YoY, Adjusted Non-IFRS Net Profit Up 40.0% YoY; Backlog for Continuing Operations Up 47.1% YoY

Associated Press

28-04-2025

SHANGHAI, April 28, 2025 /PRNewswire/ -- WuXi AppTec (stock code: 603259.SH / 2359.HK), a global company that provides a broad portfolio of R&D and manufacturing services that enable companies in the pharmaceutical and life sciences industry, today announced financial results for the first quarter ending March 31, 2025 ('Reporting Period'):
Management Comment
Dr. Ge Li, Chairman and CEO of WuXi AppTec, said, 'Revenue and profit both resumed double-digit growth during the first quarter, and our backlog for Continuing Operations sustained rapid growth, as we maintained our laser focus on leveraging WuXi AppTec's unique CRDMO platform to expand delivery of enabling services across research, development and manufacturing.'
'The Company currently maintains its full-year guidance set at the beginning of the year. We expect revenue from Continuing Operations to grow 10-15% in 2025, and our adjusted non-IFRS net profit margin will further improve.'
'WuXi AppTec is dedicated to 'doing the right thing and doing it right', as our services drive long-term growth, improve the health of those in need and realize our vision that 'every drug can be made and every disease can be treated'.'
Business Performance by Segments
This release provides a summary of the results and does not intend to provide a complete statement relating to the Company, its securities, or any relevant matters herein that a recipient may need in order to evaluate the Company. For additional information, please refer to the WuXi AppTec 2025 First Quarterly Results Presentation and 2025 First Quarterly Report disclosed on the Company's official website, as well as the Company's disclosure documents and information on the Shanghai Stock Exchange, the Stock Exchange of Hong Kong Limited website. Investors are advised to exercise caution and be aware of the investment risks in trading Company shares.
Net profit attributable to the owners of the Company is prepared in accordance with China Accounting Standards for Business Enterprises (CAS), in currency of RMB. Besides, all other financial information disclosed in this press release is prepared in accordance with the International Financial Reporting Standards Accounting Standards ('IFRSs'), in currency of RMB.
The 2025 First Quarterly Report of the Company has not been audited.
About WuXi AppTec
As a global company with operations across Asia, Europe, and North America, WuXi AppTec provides a broad portfolio of R&D and manufacturing services that enable the global pharmaceutical and life sciences industry to advance discoveries and deliver groundbreaking treatments to patients. Through its unique business models, WuXi AppTec's integrated, end-to-end services include chemistry drug CRDMO (Contract Research, Development and Manufacturing Organization), biology discovery, preclinical testing and clinical research services, helping customers improve the productivity of advancing healthcare products through cost-effective and efficient solutions. WuXi AppTec received an AA ESG rating from MSCI for the fourth consecutive year in 2024 and its open-access platform is enabling ~6,000 customers from over 30 countries to improve the health of those in need – and to realize the vision that 'every drug can be made and every disease can be treated.' Please visit: http://www.wuxiapptec.com
Forward-Looking Statements
This press release may contain certain statements that are or may be forward looking, which can be recognized by the use of words such as 'expects', 'plans', 'will', 'estimates', 'projects', 'intends', or words of similar meaning. Such forward-looking statements are not historical facts, but instead are predictions about future events based on our beliefs, development strategy, business plan as well as assumptions made by and information currently available to our management. Although we believe that our predictions are reasonable, future events are inherently uncertain and our forward-looking statements may turn out to be incorrect. Our forward-looking statements are subject to risks relating to, among other things, our ability to meet timelines for the expansion of our service offerings or to reach the scale of our production capacity expansion plans, our ability to protect our clients' intellectual property, competition, unforeseeable change of international policy, the impact of emergencies and other force majeure. Our forward-looking statements do not constitute any profit forecast by our management nor a undertaking by WuXi AppTec Co., Ltd. ('WuXi AppTec' or the 'Company') to our investors. ACCORDINGLY, YOU ARE STRONGLY CAUTIONED THAT RELIANCE ON ANY FORWARD-LOOKING STATEMENTS INVOLVES KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES. All forward-looking statements contained herein are qualified by reference to the cautionary statements set forth in this section. All information provided in this press release is as of the date of this press release and are based on assumptions that we believe to be reasonable as of this date, and we do not undertake any obligation to update any forward-looking statement or information in this press release to reflect future events or circumstances, except as required under applicable law.
Continuing Operations and Discontinued Operations
In accordance with the IFRSs, the Company has classified the operations for which equity sale agreements were signed during the Reporting Period or the comparison year as discontinued operations ('Discontinued Operations'). The remaining operations of the Company will continue to be reported as continuing operations ('Continuing Operations').
Use of Non-IFRS and Adjusted Non-IFRS Financial Measures
We provide non-IFRS gross profit and non-IFRS net profit attributable to the owners of the Company, which exclude share-based compensation expenses, issuance expenses of convertible bonds, foreign exchange related gains or losses, amortization of acquired intangible assets from merger and acquisition, gains or losses from impairment and disposal of non-financial assets, and gains or losses from divestiture and restructuring initiatives, etc. We also provide adjusted non-IFRS net profit attributable to the owners of the Company and earnings per share, which further exclude realized and unrealized gains or losses from our venture capital investments and joint ventures. Neither of the above is required by, or presented in accordance with IFRSs.
We believe that the adjusted financial measures used in this presentation are useful for understanding and assessing our core business performance and operating trends, and we believe that management and investors may benefit from referring to these adjusted financial measures in assessing our financial performance by eliminating the impact of certain unusual, non-recurring, non-cash and non-operating items that we do not consider indicative of the performance of our core business. Such non-IFRS financial measures, the management of the Company believes, is widely accepted and adopted in the industry the Company is operating in. However, the presentation of these adjusted non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRSs. You should not view adjusted results on a stand-alone basis or as a substitute for results under IFRSs, or as being comparable to results reported or forecasted by other companies.
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SOURCE WuXi AppTec