Eurofins reports continued strong momentum with 7% organic growth in Q1 2017
April 25 2017 - 1:30AM
Business Wire
Regulatory News:
Eurofins (Paris:ERF):
25 April 2017
- Q1 2017 revenues increased 18%
year-on-year to EUR 685m
- Organic growth of 7% in the first
quarter, despite the exceptionally strong organic growth of over
10% for the comparable period in 2016
- Growth momentum remains robust in most
of Eurofins’ businesses and geographies
Comment from the CEO, Dr. Gilles Martin: “Eurofins’
strong performance in the first quarter of 2017, even compared to
the remarkably high organic growth achieved in Q1 2016, allows us
to remain positive that we should be able to achieve our objectives
for the full year 2017. Continued strength in trends across our
markets and businesses, as well as our ongoing strategic
investments, notably in start-up laboratories, selective
acquisitions, as well as IT systems and solutions, also reinforce
our optimism over our medium-term outlook, and our objective of
achieving EUR 4bn of revenues and EUR 800m of adjusted EBITDA by
2020.”
EUR m
Q1 2017 Q1 2016 %
Growth of which organic of which FX
Eurofins Group
Revenues 685 582 18% 7%
< 2%
Eurofins achieved revenues of EUR 685m in the first quarter,
representing growth of 17.7% over Q1 2016. Organic growth during
the quarter was 7%, a notable performance given the very strong
organic growth of over 10% generated in Q1 2016. The remainder of
the revenue growth was made up of contribution from acquisitions,
whilst currency impact was 1.6% during the period.
Most of the Group’s businesses in geographies where it is
present continue to deliver robust growth as we develop our
footprint and benefit from our ongoing investments. Revenue growth
from North America (33% of Group revenues in Q1) remains strong,
with organic growth well above Group average, as Eurofins continues
to benefit from positive trends in biopharmaceutical testing and
the ongoing ramp-up in our start-up laboratories across the
country. In France, which makes up nearly 24% of Group revenues,
the food and environment testing businesses generated strong growth
during the quarter, whilst the clinical diagnostics business
continued to grow despite the strong performance in the comparable
period in 2016. Eurofins’ businesses in Germany continued to
generate organic growth above Group objective and now make up 10%
of total Group revenues.
Overall, Eurofins’ solid performance in Q1 2017, even compared
to the remarkably strong performance in the comparable period in
2016, reflects the benefits of the Group’s growing scale, and
allows us to remain positive about the outlook for the
medium-term.
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.
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 through its subsidiaries (hereinafter
sometimes “Eurofins” or “the Group”) believes it is the world
leader in food, environment and pharmaceutical products testing and
that it is also one of the global independent market leaders in
certain testing and laboratory services for agroscience, genomics,
discovery pharmacology and for supporting clinical studies. In
addition, Eurofins is one of the key emerging players in specialty
clinical diagnostic testing in Europe and the USA. With over 28,000
staff in 310 laboratories across 39 countries, Eurofins offers a
portfolio of over 130,000 analytical methods for evaluating the
safety, identity, composition, authenticity, origin and purity of
biological substances and products, as well as for innovative
clinical diagnostic. The Group objective is to provide 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170424006349/en/
For more information, please visit
www.eurofins.com or contact:Eurofins Investor
Relations+32-2-766 1620ir@eurofins.com
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