EUORBIO SCIENTIFIC: 2022 TURNOVER OF €152.5M 15% CORE BUSINESS GROWTH AT €93M
January 23 2023 - 11:45AM
EUORBIO SCIENTIFIC: 2022 TURNOVER OF €152.5M 15% CORE BUSINESS
GROWTH AT €93M
2022 TURNOVER OF €152.5M
15% CORE BUSINESS GROWTH AT
€93M
• Growth of proprietary products reaching 18%
of core revenues1• Internationalization of the
Group at 25% of core revenues1• Core business now
representing 60% of Group turnover• Continued
development with net debt limited to less than €30 million
Paris, January
23, 2023
– 5:45
pm
Eurobio
Scientific (FR0013240934, ALERS), a leading French
group in in vitro medical diagnostics and life sciences, today
presents its consolidated annual revenue as of December 31,
2022.
Strong growth in core business
(excluding COVID)
Eurobio Scientific recorded revenue of €152.5
million for the 2022 financial year, split between its core
business, excluding COVID, for €93.4 million and exceptional
activities related to COVID for €59.1 million.The core business
recorded significant growth of 15%, and benefited from the first
effects of the acquisitions of BMD (Belgium) and GenDx
(Netherlands). On a constant scope basis, growth is +5%.COVID
activity now represents only 39% of consolidated revenue (compared
to 56% in 2021), in a market driven by a sharp drop in sales prices
and test volumes.The share of proprietary products in the core
business increased to 18% of sales, compared to 14% the previous
year.
|
in €m |
2022 |
2021 |
change |
| Core
(excl. COVID) |
93.4 |
81.5 |
+15% |
|
COVID |
59.1 |
102.6 |
-42% |
|
Total |
152.5 |
184.1 |
-17% |
| unaudited |
|
|
|
|
A business portfolio with higher added
value
The strong growth of the core business, at +15%,
reflects both the dynamism of historical activities, the
development of new activities and the reallocation of the
distribution portfolio.New activities are driven on the one hand by
the strengthening of R&D and partnerships, but above all by the
acquisitions made in 2022. In this respect, BMD, acquired in June
2022, makes it possible to extend the distribution of diagnostic
products to the Benelux zone. GenDx, acquired on October 1, 2022,
brings a range of 100% proprietary products among the most
efficient in the field of HLA2 diagnostics, as well as
next-generation genomic sequencing technologies bringing numerous
synergies.Excluding the contribution of BMD and GenDx, the core
business grew by 5% including the strategic reallocation of the
distribution portfolio which resulted in the termination of certain
low-margin distribution contracts, which represented several
million euros of turnover in 2021.This strategic reallocation of
the distribution portfolio is for the benefit of new partnerships
aimed at making innovative products with a strong impact available
in France for healthcare professionals and patients. The Group has
thus taken over the exclusive distribution in France of the HIV
self-test from the US company Orasure, signed partnerships with
Alcor, Technoclone and SD Biosensor laboratories for distribution
in the field of "Point of Care" proximity tests, and in the field
of connected biology based on artificial intelligence.
COVID sales supported by an extension of
the product portfolio
As expected, the COVID activity proved resilient
in a market whose decline accelerated in the second half of the
year. Corresponding revenue shows an annual decline of 42% driven
by a sharp reduction in prices and volumes. At €59.1 million, the
COVID activity represents 39% of revenue in 2022.Thanks to a highly
responsive innovation strategy and go-to-market capabilities, sales
of new proprietary COVID tests continued. Eurobio Scientific has
introduced more than 10 proprietary tests since 2021 as the
different variants of the virus have spread. The expertise of the
R&D teams, the mastery of regulatory affairs demonstrated by
the company's ISO 13485 recertification under the new IVDR3
framework, and a high-capacity production tool, all enable the
Group to support laboratories in almost real time.
Eurobio Scientific has remained one of the main
French players in the diagnosis of COVID, and benefits, thanks to
its privileged relations with its partners, from a vast park of
installed instruments, capable of processing a multitude of tests.
At the start of the year, a part of this business segment relies on
the proprietary EBX 042 FluCoSyn™ test (COVID/influenza/RSV
triplex), which Eurobio Scientific introduced in September 2020.
The COVID segment is therefore becoming a core business routine
activity.
Group internationalization
International now represents more than 25% of
the turnover generated by the core business, while it still only
partially includes the sales of BMD and GenDx, acquired in
2022.
Net debt of less than €30m after
acquisition of GenDx
At the end of 2022, Eurobio Scientific's cash
position was over €85 million, for a net financial debt of less
than €30 million.After completing the structuring acquisition of
GenDx, Eurobio Scientific retains a financial structure allowing
continued investments and the ability to seize possible acquisition
opportunities.
Next financial
meetings2022 results:
April 5, 2023,
before market opensAnnual shareholders’ meeting :
June 12, 2023 at
9amHalf-year 2023 sales :
July 24, 2023,
after market closesHalf-year results :
October 11, 2023,
after market closes
|
About Eurobio
ScientificEurobio Scientific is a key player in
the field of specialty in vitro diagnostics. It is involved from
research to manufacturing and commercialization of diagnostic tests
in the fields of transplantation, immunology and infectious
diseases, and sells instruments and products for research
laboratories, including biotechnology and pharmaceutical companies.
Through many partnerships and a strong presence in hospitals,
Eurobio Scientific has established its own distribution network and
a portfolio of proprietary products in the molecular biology field.
The Group has approximately 250 employees and four production units
based in the Paris region, in Germany, in the Netherlands and in
the United States, and several affiliates based in Dorking UK,
Sissach Switzerland, Bünde Germany, Antwerp Belgium and Utrecht in
The Netherlands.Eurobio Scientific's reference shareholder is the
EurobioNext holding company which brings together its two
directors, Jean-Michel Carle and Denis Fortier, alongside the
"Pépites et Territoires" by AXA & NextStage AM investment
program, managed by NextStage AM. For more information, please
visit: www.eurobio-scientific.comThe company is publicly listed on
the Euronext Growth market in ParisEuronext Growth BPI Innovation,
PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech
label.Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA -
Bloomberg: ALERS:FP |
|
Contacts |
|
Group Eurobio ScientificDenis Fortier, General
ManagerAnne-Sophie Herelle, CFOTel. +33(0) 1 69 79 64 80 |
CalyptusMathieu CalleuxInvestors relationsTel.
+33(1) 53 65 68 68 eurobio-scientific@calyptus.net |
1 Turnover generated by core business (excluding COVID),
unaudited2 Human Leukocyte Antigen3 In Vitro Diagnostics
Regulation, new European regulation that became effective in May
2022
- 230123PR_Eurobio Scientific_CA_2022_EN
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