GUERBET : Revenue at June 30, 2016: EU376.7 million, up 65.7%
July 28 2016 - 11:52AM
Change in pro forma revenue*: - 5.3%
Change in pro forma revenue* at constant exchange rates: - 2.3%
Guerbet (FR0000032526 GBT), a global specialist in contrast
agents and solutions for medical imaging, is reporting revenue of
€376.7 million for the 1st half of 2016, up 65.7% from 2015. This
increase incorporates an adverse exchange rate impact of €11.9
million, mainly on the Brazilian real, Argentine peso, Korean won,
and the Turkish lira. At constant exchange rates, the Group posted
sales of €388.6 million, slightly down 2.3% from the pro forma
revenue for the first half of 2015.
Consolidated Group revenue (IFRS)
In millions of € |
1st half 2016 |
|
1st half 2015 pro forma* |
Change |
|
1st half 2015 reported |
Change |
Sales - Europe |
189,7 |
|
187,5 |
+1.2% |
|
158,7 |
+19.5% |
Sales - Other Markets |
187,0 |
|
210,3 |
-11,1% |
|
68,6 |
+172.6% |
Total |
376,7 |
|
397,8 |
-5,3% |
|
227,3 |
+65.7% |
*: Integration of CMDS activities
Good performance level in Europe In
Europe, consolidated revenue for the first half totaled €189.7
million compared with €187.5 million for 2015 in its pro forma
version, incorporating an adverse exchange rate impact of nearly €2
million. At current exchange rates, the second quarter confirmed
the growth of the first quarter, which was already 1.2%.
Outside Europe, despite the good performance of
Dotarem® in the US, the Group's sales totaled €187.0 million
compared with €210.3 million for 2015 in its pro forma version, an
11.1% decrease. However, this decline incorporates an adverse
exchange rate impact of nearly €10 million and reveals an improving
trend in the second quarter (-9.0%), at current exchange rates,
compared with the first quarter (-13.1%).
Double-digit growth in Dotarem®
sales, lower performance for X-rays At constant exchange
rates, the activity breaks down as follows:
- good Dotarem sales in both Europe and the US resulted in
half-year revenue of €121.8 million for MRI, up 5.5%
- the X-ray segment fell by 6.8% to €205.3 million, mainly
due to Optiray, but its decline began to slow down in the second
quarter thanks to stimulus actions undertaken since the acquisition
of CMDS
- the performance of Lipiodol® and Patent Blue V increased
the IRT segment's revenue by 18.3% to €25.4 million
- lastly, the Imaging Solutions and Services (ISS)
segment is down nearly 7.4% with revenue of €34.5 million,
reflecting lower injector sales.
2016 outlook: stabilization of sales at +/-
3% already achieved and confirmation of annual targets The
second quarter confirms Guerbet's ability to reverse the trend on
sharply declining CMDS sales (-20% over the last two years before
the acquisition). At the end of the first half, consolidated sales
are -2.3% at constant exchange rates, within the target window of
+/- 3% announced for the full year. The Group is therefore
confirming its annual targets and its ability to start growing
again in 2017.
Upcoming events:
Publication of 2016 half-year earnings:
September 28, 2016, before trading
About Guerbet
Guerbet is a pioneer in the contrast agent
field, with nearly 90 years' experience, and is the only
pharmaceutical group dedicated to medical imaging worldwide. It
offers a comprehensive range of X-Ray, Magnetic Resonance Imaging
(MRI), and Interventional Radiology and Theranostics (IRT)
products, along with a range of injectors and related medical
devices to improve the diagnosis and treatment of patients. To
discover new products and ensure future growth, Guerbet invests
heavily in R&D, spending around 9% of its sales each year.
Guerbet (GBT) is listed on Euronext Paris (Segment B - Mid Caps)
and generated revenue of €489 million in
2015.
For more information about Guerbet, please visit
www.guerbet.com
Contacts
Jean-François Le
Martret Chief Financial Officer 01 45 91 50 00
|
Financial Communications
Benjamin Lehari 01 56 88 11 25 blehari@actifin.fr
Press Jennifer Jullia 01 56 88 11 19 jjullia@actifin.fr
|
Press release http://hugin.info/159769/R/2031561/755976.pdf
HUG#2031561
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