GUERBET : Revenue at September 30, 2018
October 25 2018 - 11:45AM
€614.3M at constant exchange rates,
up
2.1%
Villepinte, 25
October 2018 - Guerbet (FR0000032526 GBT),
a global specialist in contrast agents and solutions for medical
imaging, is reporting revenue of €581.4M for the first nine months
of the 2018 financial year, down 3.3% due to a highly unfavourable
currency effect representing €32.9M. At constant exchange rates,
the Group's revenue increased 2.1% to €614.3M, identical to the
dynamics observed in the first half of the year.
Consolidated
Group revenue (IFRS)
In millions of
euros
at 30 September |
Change (%) |
2018
at current exchange rates
|
Change (%) |
2018
at constant exchange rates
|
Published
2017
|
Sales in
Europe |
-9.7% |
254.1 |
-7.8% |
259.4 |
281.3 |
Sales in
Other Markets |
+2.3% |
327.3 |
+10.9% |
354.9 |
320.1 |
Total |
-3.3% |
581.4 |
+2.1% |
614.3 |
601.4 |
In Europe, sales were down 7.8% at
constant exchange rates. This trend mainly concerned France and
Germany.
In Other Markets, the unfavourable
currency effect was still very significant with a negative impact
of €27.6M (mainly Brazil and US). At constant exchange rates,
revenue as of the end of September totalled €354.9M, corresponding
to an increase of +10.9%. In Japan, the successful start of direct
distribution in early October will allow the Group to speed up its
penetration in the world's number 2 market.
At constant exchange rates,
Diagnostic Imaging revenues amounted to €538.0M, down 1.7% compared
with the first nine months of the 2017 financial year:
-
On the MRI segment, revenue
totalled €203.2M, compared with €207.3M for the same period in
2017. Dotarem® sales
continued to grow in terms of volume, but this effect was partially
offset by a decrease in prices, mainly in Europe (impact of the
generic). In addition, the gradual withdrawal of
Optimark® led to a net
decrease in this product which weighed on the MRI segment, down
2.0% in total;
-
On the CT/Cath Lab segment,
sales generated €274.9M versus €280.5M for the same period in 2017
(-2%). This decline primarily concerned Optiray®, as its
revenue was still affected by an adverse base effect compared with
the first half of 2017. As a reminder, in early 2018, this product
moved to a new distributor in China, offering a lower selling price
but no contribution to marketing costs, resulting in a negative but
ultimately margin-neutral impact on revenue. The sales momentum of
Xenetix® was
satisfactory;
In Interventional Imaging, revenue
totalled €48.6M at constant exchange rates, a 26.8% increase
compared with the first nine months of the 2017 financial year.
After obtaining the 510k (FDA clearance) in the US, the first sales
of Accurate Medical Therapeutics microcatheters will marginally
contribute to the 4th quarter
revenue.
The outlook for 2018 remains
unchanged, namely:
-
slightly greater revenue than in the 2017
financial year at constant exchange rates;
-
restated EBITDA at constant exchange rates
(excluding the full-year effect of revaluation of inventories for
€15.6M) around 15% of revenue.
Upcoming
events:
Publication of 2018 revenue
14 February 2019,
after trading
Guerbet is a pioneer in the
contrast-agent field, with more than 90 years' experience, and is a
leader in medical imaging worldwide. It offers a comprehensive
range of pharmaceutical products, medical devices and services for
diagnostic and interventional imaging, to improve the diagnosis and
treatment of patients. With 8% of revenue dedicated to R&D and
more than 200 employees distributed across its four centres in
France, Israel, and the United States, Guerbet is a substantial
investor in research and innovation. Guerbet (GBT) is listed on
Euronext Paris (segment B - mid caps) and generated
€807 million in revenue in 2017. For more information about
Guerbet, please visit www.guerbet.com
Forward-looking
statements
Certain information contained in
this press release does not reflect historical data but constitutes
forward-looking statements. These forward-looking statements are
based on estimates, forecasts, and assumptions, including but not
limited to assumptions about the current and future strategy of the
Group and the economic environment in which the Group operates.
They involve known and unknown risks, uncertainties, and other
factors that may result in a significant difference between the
Group's actual performance and results and those presented
explicitly or implicitly by these forward-looking statements.
These forward-looking statements
are valid only as of the date of this press release, and the Group
expressly disclaims any obligation or commitment to publish an
update or revision of the forward-looking statements contained in
this press release to reflect changes in their underlying
assumptions, events, conditions, or circumstances. The
forward-looking statements contained in this press release are for
illustrative purposes only. Forward-looking statements and
information are not guarantees of future performance and are
subject to risks and uncertainties that are difficult to predict
and are generally beyond the Group's control. These risks and
uncertainties include but are not limited to the uncertainties
inherent in research and development, future clinical data and
analyses (including after a marketing authorisation is granted),
decisions by regulatory authorities (such as the Food and Drug
Administration or the European Medicines Agency) regarding whether
and when to approve any application for a drug, process, or
biological product filed for any such product candidates, as well
as their decisions regarding labelling and other factors that may
affect the availability or commercial potential of such product
candidates. A detailed description of the risks and uncertainties
related to the Group's businesses can be found in Chapter 4.4
"Risk management and risk factors" of the Group's Registration
Document filed with the French Financial Markets Authority (AMF)
under number D-18-0387 on 25 April 2018, available on the Group's
website (www.guerbet.com) and on the AMF website
(www.amf-france.org).
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 West Corporation on behalf of West
Corporation 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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