Villepinte,
February 15, 2017 - Guerbet (FR0000032526
GBT), a global specialist in contrast agents and solutions for
medical imaging, is reporting revenue of €775.8 million at December
31, 2016, up 58.7% from 2015.
This change includes a negative currency effect of €13.0 million.
At constant exchange rates, and on a like-for-like basis (vs. the
2015 pro forma revenue), the Group posted stable sales of €788.8
million (-0.1%) in line with the guidance. The main challenge in
2016 was in fact to successfully turn around the declining sales of
the activity bought at the end of 2015.
The 7.1% growth in the fourth
quarter reflects this trend reversal and proves the successful
integration of the former CMDS activities. This performance allows
the Group to approach the year 2017 with confidence, a year that
should see growth in celebration of the Group's 90th birthday.
Consolidated Group revenue at
current exchange rates (IFRS)
In millions of euros |
12 months 2016 |
12 months 2015 pro forma* |
Change |
Published 2015 |
Q4 2016 |
Q4 2015 pro forma* |
Change |
Sales in
Europe |
372.9 |
380.2 |
-1.9% |
326.5 |
98.6 |
97.5 |
+1.1% |
Sales in
Other Markets |
402.9 |
409.1 |
-1.5% |
162.2 |
108.8 |
96.1 |
+13.3% |
Total |
775.8 |
789.3 |
-1.7% |
488.7 |
207.4 |
193.6 |
+7.1% |
* Integration of
CMDS activities
Consolidated Group revenue at
constant exchange rates (IFRS)
In millions of euros |
12 months 2016 |
12 months 2015 pro forma* |
Change |
Q4 2016 |
Q4 2015 pro forma* |
Change |
Sales in
Europe |
377.0 |
380.2 |
-0.8% |
100.0 |
97.5 |
+2.5% |
Sales in
Other Markets |
411.8 |
409.1 |
+0.6% |
107.0 |
96.1 |
+11.5% |
Total |
788.8 |
789.3 |
-0.1% |
207.0 |
193.6 |
+7.0% |
* Integration of
CMDS activities
Sales turnaround
well under way in every region
In Europe, the consolidated
revenue at December 31, 2016 stands at €372.9 million, with 1.1%
growth in the last quarter.
In Other Markets, sales show a
constant improvement: -13.1% in Q1, -9.1% in Q2, +4.2% in Q3 and
+13.3% in Q4.
Continued strong
growth in MRI and IRT and a positive trend in X-ray and ISS
At constant exchange rates, the
activity by category of products breaks down as follows:
-
MRI revenue totals €248.5
million, up 4.5%, driven by sales of
Dotarem® in the US,
despite the gradual phase out of Optimark®.
-
The X-ray activity reported
revenue of €384.6 million, down 2.8%, following the voluntary
abandoning of Hexabrix® and
Oxilan®. The return
to growth of sales of Xenetix® and
Optiray® in the fourth
quarter resulted in almost stable sales for Xenetix on a full-year
basis and a successful turnaround for Optiray (-11.9% in Q1, -10.9%
in Q2, -3.6% in Q3 and +17.6% in Q4).
-
The IRT activity increased
to €55.3 million, with a continued strong growth over the year
(+21.6%), thanks to the performance of Lipiodol® and
Patent Blue V.
-
Finally, the Imaging Solutions
and Services (ISS) activity improved over
the fourth quarter (+9.6%), with annual revenue of €77.9 million
(-2.4% compared with the 2015 pro forma revenue).
As announced, the EBITDA in the
2nd half-year should be less than in the 1st half-year due to the
industrial integration in progress, which temporarily affected the
performance of production sites, and the revaluation of
inventories.
Outlook
for 2017: resumption of growth
2016 demonstrated the Group's
capacity to make rapid progress with the integration of the
activity bought at the end of 2015, while achieving a trend
reversal.
In 2017, Guerbet will complete its
integration process by continuing to implement commercial,
industrial and logistics synergies. The Group is now embarking on a
new phase in its development and is consolidating its return to
growth.
Upcoming
events:
Publication of the 2016 annual
results
March 29, 2017, before trading
About Guerbet
Guerbet is a pioneer in the
contrast agent field, with 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
€776 million in revenue in 2016.
For more information about Guerbet,
please visit www.guerbet.com
Guerbet |
Actifin |
Jean-François Le
Martret
Chief Financial Officer
(+33) (0)1 45 91 50 00
|
Financial Communications
Benjamin Lehari
(+33) (0)1 56 88 11 25
blehari@actifin.fr
Press
Jennifer Jullia
(+33) (0)1 56 88 11 19
jjullia@actifin.fr
|
Press release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: GUERBET via Globenewswire
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