Eurofins Achieves Almost 30% Revenue Growth in Q1 2015
May 11 2015 - 1:30AM
Business Wire
Regulatory News:
Eurofins (Paris:ERF):
- Q1 revenues increased 29.4%
year-on-year to EUR 394m.
- The Group achieved organic growth of
close to 6% despite the strong comparable growth of over 8% in the
same period last year, and the continued economic headwinds in some
of the markets where we operate.
- Strong growth in the US (up over 63% at
constant exchange rates), which made up close to one-third of total
Group revenues during the quarter, as rapid expansion
continues.
- Growth trends remain positive in most
of Eurofins’ businesses and geographies.
Comments from the CEO, Dr. Gilles Martin: “The results
achieved in the first quarter show that we are off to a good start
in 2015. Positive trends in our industry, in addition to the
benefits of our ongoing network investments, allow us to drive
revenue growth above our objectives. This continued strong
performance reinforces our confidence that our objective of
exceeding EUR 1.6bn in revenues and EUR 300m in adjusted EBITDA
this year should be easily achieved. The Group will provide an
update of its 2015 objectives at the half year results
publication.”
Q1 2015 EUR m
Q1 2015 Q1 2014 %
Growth
Eurofins Group Revenues 394.0 304.4
29.4%
Eurofins started the year positively, generating robust growth
rates across most of its geographies. In the first quarter, the
Group achieved revenues of EUR 394m, representing growth of 29.4%
over Q1 2014, about 6% of which was organic. Currency impact was
over 5%, with the remainder made up of contribution from
acquisitions. The strong organic growth during the quarter is all
the more notable given the strong comparable results in Q1 2014,
and the residual impact of our reorganization activities, the most
significant part of which were completed at the end of 2014.
The US (33% of Group revenues in Q1) continues to generate
organic growth well above Group average, on strongly positive
trends across all businesses. France and Germany (14% of Group
revenues each) both generated robust growth despite the residual
impact of reorganization in the Group’s French water-testing
business completed last year, and the mature testing market in
Germany. The high single-digit organic growth achieved in the UK
& Ireland (6% of Group revenues) was primarily on the back of
strong performance in food and pharmaceutical testing activities.
Growth in the Nordic countries was somewhat muted, although the
recently-completed reorganization and site consolidation in Denmark
should result in a resumption of growth going forward. Results from
the Benelux were impacted by the absence of revenues from
agricultural soil testing derogation activities in The Netherlands,
which is a 4-year interval business, and which will therefore only
recur in 2018. Our businesses in Asia Pacific and emerging markets
continue to post double-digit growth as we continue to develop our
footprint in these geographies.
Overall, the strong performance in a seasonally weaker first
quarter allows the Group to remain strongly positive about its
medium-term outlook.
For more information, please visit
www.eurofins.com or contact:
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 over 17,000 staff in more than 200 laboratories across 36
countries, Eurofins offers a portfolio of over 130,000 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 on 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
information available to the Company’s management 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.com
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