By Olivia Bugault

Lonza Group AG on Tuesday provided new midterm financial targets and said it will continue to pay a dividend of 25% to 40% of its net income, but anticipates no extraordinary capital return as it will prioritize investment opportunities.

The Swiss life-sciences company, which is holding its capital-markets day later on Tuesday, said it has updated its 2024 outlook and expects sales at a constant exchange rate to grow in the low teens, while its core earnings before interest, taxes, depreciation and amortization margin is projected to be in the range of 33% to 35%.

The company said capital expenditure should reach around 25% of sales this year and will remain elevated until it returns to the high teens by 2025.

In a presentation released ahead of its capital-markets day, Lonza said the capital distribution to shareholders will be limited as it sees a lot of investment opportunities ahead and foresees "no extraordinary capital return."

Write to Olivia Bugault at olivia.bugault@wsj.com