Biohit announced on Thursday that it has signed a distribution agreement with Biomedal for the distribution of celiac disease diagnostic tests in selected European countries.

Biohit has achieved a successful turnaround and is targeting strong growth of 15-20% over the 2024-28 strategy period. We expect the company's earnings to continue to grow in the coming years, supported by the development of new markets and new product launches.

Biohit announced on Wednesday the results of a study of GastroPanel® for the diagnosis of gastric precancerous conditions. The GastroPanel® test on a blood sample identified patients at risk of gastric cancer requiring further examinations with over 90% accuracy.

Biohit issued a profit warning related to revenue, but despite this, the new 2024 earnings guidance (EBIT percentage 16-18%) clearly exceeded our expectations.

Profitability has seen some ups and downs, so the sustainability of H2's excellent performance is still uncertain.

Biohit that reports semi-annually does not publish business reviews for Q1 and Q3, but the company reports on its progress on the IR blog. The Q3 blog did not comment on progress against financial targets this time, so we expect the business to have continued to operate within the guidance range of 15-20% growth.