GUERBET : Revenue at September 30, 2017
October 25 2017 - 11:50AM
€597.4
million at constant exchange rates: +5.1%
Level of activity in line with
expectations
Villepinte, October 25, 2017 -
Guerbet (FR0000032526 GBT), a global specialist in contrast
agents and solutions for medical imaging, is reporting revenue of
€601.4 million for the first 9 months of 2017, up 5.1% at constant
exchange rates and 5.8% at current exchange rates. For the third
quarter, reported revenue totaled €194.3 million, up 4.2% at
constant exchange rates and 1.4% at current exchange rates, a
negative exchange rate effect of €5.4 million.
Consolidated Group revenue (IFRS)
In millions of eurosAt September 30 |
9 months 2016 |
9 months 2017at current exchange rates |
Change |
9 months 2017 at constant exchange rates |
Change |
Sales in Europe |
274.3 |
281.3 |
+2.5% |
284.5 |
+3.7% |
Sales in Other Markets |
294.1 |
320.1 |
+8.9% |
312.9 |
+6.4% |
Total |
568.4 |
601.4 |
5.8% |
597.4 |
+5.1% |
Guerbet's revenue over the first 9 months of
2017 is up in Europe and in Other Markets. This positive
development has come despite the gradual withdrawal of certain
products as part of the plan to streamline Guerbet's product range,
such as Oxilan®, Hexabrix®, and Optimark®, and the arrival of new
generics of Dotarem® on certain European and Asian markets.
For the third quarter, revenue in Europe was up
8.6% (€91.8 million) at constant exchange rates and 7.0% at current
exchange rates. The negative exchange rate effect over the quarter
was €1.3 million.
Guerbet brought an infringement action against
Austrian company Sanochemia Pharmazeutica AG and three other
companies to the Munich court, whose decision is expected in late
2018. Confident that the validity of its patent will be confirmed
by the European Patent Office, Guerbet will continue to protect its
significant investments in research and development, particularly
through intellectual property, and assert its rights against any
unauthorized use.
Sales on Other Markets in the third quarter at
current exchange rates were up by 0.8% at constant exchange rates
(€108.0 million) but down by 3.0% at current exchange
rates. This slowdown in growth at constant exchange rates is
explained mainly by the timing of deliveries in China and by supply
difficulties. The negative exchange rate effect over the quarter
was 4.1 million.
At constant exchange rates, cumulative activity
at the end of September changed as follows:
- On the MRI segment, revenue increased by 14.4% (€207.5
million) thanks to the good performance of Dotarem
- The X-Ray segment gained 1.5% to €277.4 million, driven
mainly by sales of Optiray®
- On the IRT segment, sales continued to fall by 4.7% to
€38.4 million due to supply difficulties, which should be
controlled by the end of the year
- The Imaging Solutions and Services (ISS) increased by
4.8% to €59.3 million, confirming the trend that began in the first
half.
Outlook
For the 2017 fiscal year, the Group's objectives
remain unchanged. Guerbet is targeting annual revenue growth of 3%
to 4% (at constant exchange rates) with EBITDA outpacing
revenue.
EBITDA: Operating income + net amortization, depreciation, and
provisions
Calculation of exchange rate effect: difference between the
indicator's value for period N, converted at the exchange rate for
period N-1, and the indicator's value for period N-1
Upcoming events:Reporting of 2017
annual revenueFebruary 15, 2018, after trading
About Guerbet
Guerbet is a pioneer in the contrast agent
field, with nearly 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
Contacts
Jean-François Le
MartretChief Financial Officer+33 (0)1 45 91 50 00
|
Financial
CommunicationsBenjamin Lehari+33 (0)1 56 88 11
25blehari@actifin.fr PressJennifer Jullia+33 (0)1 56
88 11 19jjullia@actifin.fr |
Attachments:
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