Guidance And ForecastsWe update our forecasts, with a 2% reduction to FY25 core EBIT and 5% reduction to adj. EPS also reflecting higher interest charges.
Market ReactionA market overreaction has created an opportunity for investors, as recent macro tariff news has inappropriately affected Hikma, exposing both short- and long-term opportunity.
Profit MarginsCompany continues to expect 7-9% FY25 revenue growth, with phasing and mix of sales expected to impact margins in 1H, but FY25 core operating margin maintained in the mid-30s.