Indivior PLC (LSE: INDV) eyes 18% revenue growth, 300bps expansion in operating margin in FY24

3 min read | June 27, 2024 03:57 AM AEST | By Team Kalkine Media

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Indivior PLC (LSE: INDV) eyes 18% revenue growth, 300bps expansion in operating margin in FY24 — Image source: Pixabay

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Highlights

In Q1FY24, INDV achieved approximately 12% year-over-year growth in total net revenue

INDV posted a net income of USD 47 million in the quarter, up from USD 44 million in pcp

In FY24, INDV anticipates achieving an 18% increase in top-line revenue growth

Indivior PLC (LSE: INDV) is a multinational pharmaceutical firm. It is dedicated to finding life-changing treatments for substance use disorders. It is also working towards finding treatment of other serious mental illnesses, aiming to positively impact patients' lives. The company is a constituent of the FTSE 250 Index. It has a market capitalization of GBP 1746.32 million.

In the first quarter of FY24, INDV achieved approximately 12% year-over-year growth in total net revenue, driven by a significant 36% year-over-year increase in SUBLOCADE® net revenue. Further, the company reported a net income of USD 47 million in the quarter, up from USD 44 million in pcp. As of the end of Q1 FY24, the company held USD 356 million in cash and cash equivalents.

Further, in FY23 the company had a higher fixed asset turnover of 10.82x and a higher gross margin of 83.8% compared to the industry median of 3.75x and 71.2%, respectively.

Recent business update

INDV has announced that it has shifted its primary listing to the Nasdaq Stock Market after moving from a "Premium Listing (commercial company)" on the official list of the U.K. Financial Conduct Authority to a "Standard Listing".

Company outlook

In FY24, INDV anticipates achieving an 18% increase in top-line revenue growth and expanding its adjusted operating margin by around 300 basis points compared to FY23. Additionally, INDV aims to enhance its pipeline of innovative potential treatments for substance use disorders.

Top 10 shareholders

The top 10 shareholders of INDV together hold approximately 42.63% of the total shares. Among them, Two Seas Capital LP has the largest shareholding at around 9.89%, followed by SG Americas Securities, L.L.C. with approximately 4.96%, as illustrated in the chart below:

Stock performance

Over the past month, INDV's stock price has dropped approximately 8.26%, while over the last six months, it has risen by about 10.08%. The stock has traded between a 52-week low of GBX 1,125.00 and a high of GBX 1,938.00. Currently, it is trading below the midpoint of this 52-week range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 26 June 2024. The reference data in this report has been partly sourced from EODHD/Others.

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