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Guerbet - Revenue at 30 September 2015: EU343.6 million; +10.2% at constant exchange rates

Villepinte, France, Oct. 22, 2015 (GLOBE NEWSWIRE) -- Villepinte, 22 October 2015 - Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting third-quarter revenue up by 14.6% at constant exchange rates. Cumulative revenue totalled €343.6 million at the end of September 2015, up by 13.6%, or +10.2% excluding exchange rate effects.

Consolidated Group revenue (IFRS)

In millions of euros 9 months 2015 9 months 2014 Change Q3 2015 Q3 2014 Change
Sales in Europe 236.7 214.9 10.1% 78.0 70.9 9.9%
Sales in Other Markets 106.9 87.6 22.1% 38.3 29.0 32.5%
Total 343.6 302.5 13.6% 116.3 99.9 16.5%

Double-digit growth in business activity in Europe and in Other Markets
Third-quarter sales in Europe were €78 million, with growth of 9.9% at current exchange rates, for total sales of €236.7 million in the first nine months of the year.
This growth in performance is once again primarily explained by contributions from Germany, the United Kingdom, Turkey, and Switzerland. At constant exchange rates, growth was 8.3% over the quarter.

For Other Markets, continued higher sales in the United States make up most of the quarter's growth. Revenue from this part of the world totalled €38.3 million, an increase of 32.5% for the quarter. This includes €0.7 million in positive exchange rate effects.

Good performance from Xenetix® and Dotarem®
Sales from the MRI segment came to €53.8 million over the quarter, for growth of 28.1% compared to the 3rd quarter of 2014. Sales of Dotarem contributed strongly to revenue, with the rising success of Dotarem on the American market and continued strong sales in Germany.

The X-Ray segment posted quarterly revenue of €46.1 million. Sales benefited from a highly favourable volume effect from Xenetix. At the end of September, cumulative X-Ray revenue was €144.2 million (+2.8%).

Sales performance of Lipiodol® and Patent Blue V has supported growth in the IRT segment of more than 40% over the past nine months.

The Imaging Solutions and Services (ISS) segment saw cumulative growth of 6.9%, for sales of €13.5 million.

Meeting annual objectives
Acquisition of Mallinckrodt's CMDS activity should become final in the coming weeks, pending approval of the transaction by the relevant oversight authorities.

Following this successful third quarter, Guerbet confirms its revenue objective, not counting acquisitions, of €445 million (+/- 2%) and its current operating margin objective excluding acquisition-related costs (operating income/net sales) of 11% (+/- 1 point).

Upcoming events:

  • Publication of 2015 annual revenue on 10 February 2016 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 NYSE Euronext Paris (Segment B - Mid Caps) and generated revenue of €409 million in 2014. It had a total workforce of 1,461 employees at 31 December 2014.

For more information about Guerbet, please go to www.guerbet.com

Contacts

Guerbet Actifin
Jean-François Le Martret
Chief Financial Officer
+33 (0)1 45 91 50 00







Christophe de Lylle / Benjamin Lehari
+33 (0)1 56 88 11 11
cdelylle@actifin.fr / blehari@actifin.fr



Press
Jennifer Jullia
+33 (0)1 56 88 11 19
jjullia@actifin.fr

Press release http://hugin.info/159769/R/1960884/714918.pdf

HUG#1960884

Source: GUERBET