GUERBET : Revenue at June 30 2018
July 26 2018 - 11:47AM
€415.7M at constant exchange rates:
+2.1%
Villepinte, 26
July 2018 - Guerbet (FR0000032526 GBT), a
global specialist in contrast agents and solutions for medical
imaging, is reporting revenue of €389.6M for the first half of
2018, down 4.3% due to a highly unfavourable currency effect
representing €26.1M. At constant exchange rates (CER), the Group's
revenue increased 2.1% to €415.7M.
Consolidated
Group revenue (IFRS)
In millions of euros
at June 30 |
Change (%) |
2018
at current exchange rates
|
Change (%) |
2018
at constant exchange rates
|
Published
2017
|
Sales in
Europe |
-9.2% |
173.3 |
-7.5% |
176.5 |
190.9 |
Sales in
Other Markets |
0.0% |
216.3 |
10.6% |
239.2 |
216.2 |
Total 1st half
revenue |
-4.3% |
389.6 |
+2.1% |
415.7 |
407.1 |
In Europe, business was down 7.5%
(at CER). This trend, generally in line with the Group's
expectations, was seen primarily in France and Germany, the two
main countries affected by the arrival of Dotarem®
generics.
In Other Markets, the unfavourable
currency effect represented €22.9M (mainly Brazil and US). At CER,
there was double-digit revenue growth (10.6%) to €239.2M for the
first half of the year.
At constant exchange rates, the
Diagnostic Imaging business for the first half of the year was down
1.5% (compared with the first half of 2017) at €367.4M:
-
In MRI, revenue totalled
€138.2M, compared with €137.7M in the first half of 2017. The
impact of the arrival of Dotarem generics in Europe and some Asian
countries is partly offset by the gradual shift from linear
gadolinium-based products to macrocycles. In this context, Dotarem
sales were resilient while Optimark® sales have
waned.
-
On the CT/Cath Lab segment,
revenue totalled €187.6M, down 3.5%. This decrease is mainly due to
Optiray®. It is the
consequence of an unfavourable base effect compared with the first
half of 2017 and the end-of-year destocking. In addition, this
product underwent a change of distributor in China in early 2018,
offering a lower selling price but no contribution to marketing
costs, resulting in a negative but ultimately margin-neutral impact
on revenue.
-
In the Injection Systems and
Services (ISS) segment, Group sales are globally stable at
€42.1M, compared with €41.4M in same period in 2017.
Still at CER, the Interventional
Imaging business led to a 27.7% increase in revenue to €31.0M. This
good performance has to be compared with the supply difficulties
that affected the first nine months of the 2017 financial year.
Guerbet confirms the objective of
stable revenue at constant exchange rates in 2018.
Upcoming
events:
Publication of first-half
consolidated financial statements at 30 June 2018
25 September 2018, 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 amongst its four centers 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
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).
For more information about Guerbet,
please visit www.guerbet.com
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
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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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