Embecta (US:EMBC)2025-05-22 13:02Company Overview - embecta's FY'24 sales reached $1.1 billion[11], with an adjusted EBITDA of $353 million, representing a ~31% margin[11] - Pen needles and safety pen needles accounted for approximately 84% of total FY'24 revenue[13] - The company serves >100 countries[11], with key markets accounting for >80% of revenue[19] Market Dynamics - Approximately 84% of FY'24 total revenue comes from the pen needle and safety pen needle products[22] - The U.S market accounts for ~$607 million in pen needle revenue, representing ~54% of total revenues[20] - Other Developed Markets account for ~$325 million in pen needle revenue, representing ~29% of total revenues[20] - Emerging Markets account for ~$191 million in pen needle revenue, representing ~17% of total revenues[20] Financial Outlook - The company reaffirms FY'25 financial guidance, expecting adjusted constant currency revenue growth to be between (4.0%) - (2.5%)[226] - The company aims to reduce debt between $450 million and $500 million and drive net leverage to ~2x during FY'26 – FY'28[232] - The company projects ~$600 million in cumulative free cash flow during FY'26 – FY'28[234]