Strong Q3 2014 Performance on Continued Positive Trends
November 03 2014 - 1:30AM
Business Wire
- Revenues increased 18.6% in Q3 2014 to
EUR 370m (18.9% at constant currency exchange rates), bringing
revenues in the first nine months to over EUR 1 billion.
- Group organic growth* in Q3 2014 was
5.5% (7.5% excluding businesses in significant restructuring). For
the first nine months of 2014, group organic growth stood at over
6% (over 8% excluding businesses in significant
restructuring).
- Strong performance across most areas of
our business.
Regulatory News:
Eurofins Scientific (Paris:ERF):
Comments from the CEO, Dr. Gilles Martin: “Eurofins’
strong performance in the first nine months of 2014 is a reflection
of both the defensiveness of the business, and the strength that we
have built, and continue to build into our network. Despite the
growing economic uncertainty in some of the countries where we are
active in, demand remains strong for our services. For the
businesses that required it, we have also been able to make good
progress in the reorganization programmes that will ensure
long-term competitiveness. For the most part, these programmes
should be completed this year. In spite of these reorganizations of
a few businesses and the associated contracts terminations we
initiated, Eurofins still managed to generate organic growth above
our objective. We remain confident that we should be able to
deliver on our objectives for the full year 2014, and stay well on
track towards our 2017 goals.”
NM 2014 EURm
NM 2014 NM 2013
% Growth
Eurofins Group Consolidated Revenues
1,014 882 14.9%
Revenues in the third quarter of 2014 rose 18.6% year-on-year to
EUR 370m, bringing total revenues for the nine months of the year
to EUR 1,014m, representing growth of 14.9% over the same period
last year (16.7% at constant currency exchange rates), over 6% of
which was organic. Adjusted for businesses in significant
restructuring, organic growth was over 8%. During the third
quarter, Eurofins completed 5 acquisitions including ViraCor and
Anatech, bringing total transactions completed to 14 in the first
nine months of the year.
The resilience of the Group’s businesses is reflected in the
sustained operating momentum across most of its markets. The US,
Eurofins’ largest market generating 24% of revenues, achieved
organic growth well above the Group’s objective despite the
continued impact of the reorganization of the central laboratory
and discovery pharmacology businesses. In Europe, Germany (17% of
Group revenues) continues to be a major growth driver, generating
over 10% revenue growth, as Eurofins leverages its scale to further
ramp up its market share. In France, the impact of the ongoing
restructuring of IPL was partially offset by the strong performance
in food testing and other areas of environmental testing. Trends
continue to be positive in the rest of Europe across Eurofins’
businesses, whilst the strong growth generated by the Group’s
businesses in emerging markets and the Asia Pacific region were
somewhat muted by currency headwinds.
Overall, the continued positive trends support the management’s
confidence in achieving or exceeding the Group’s objectives of
generating revenues of EUR 1.4 billion and adjusted EBITDA of EUR
250m for the full year 2014 (at 2013 constant exchange rates).
The management of Eurofins is hosting a conference call at 15h30
CET today to discuss the NM 2014 revenue and growth
developments.
*Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine
Months or Full Year) - non-IFRS measure calculating the growth in
revenues during that period between 2 successive years for the same
scope of businesses using the same exchange rates but excluding
discontinued operations.
Organic growth excluding businesses in significant restructuring
– non-IFRS measure based on the same calculation as for organic
growth as defined above, but excluding businesses in significant
restructuring (mainly IPL, Central laboratory and Discovery
Services) as defined for the Separately Disclosed Items.
For the purpose of organic growth calculation for year Y, the
relevant scope used is the scope of businesses that have been
consolidated in the Group’s income statement of the previous
financial year (Y-1). Revenue contribution from companies acquired
in the course of Y-1 but not consolidated for the full year are
adjusted as if they had been consolidated as from 1st January Y-1.
All revenues from businesses acquired since 1st January Y are
excluded from the calculation.
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food and
pharmaceutical products testing. It is also number one in the world
in the field of environmental laboratory services and one of the
global market leaders in agroscience, genomics, discovery
pharmacology and central laboratory services.
With 16,000 staff in more than 200 laboratories across 36
countries, Eurofins offers a portfolio of over 100,000 reliable
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products. The Group provides its customers with
high-quality services, accurate results in time and expert advice
by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients’ increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the data
available to the Company as of the date of publication, but no
guarantee can be made as to their validity.
Eurofins Investor RelationsPhone: +32-2-766 1620E-mail:
ir@eurofins.comwww.eurofins.com
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