€183.7 million, up 63.8%
€119.3 million like-for-like at constant exchange rates: + 8.1%
Villepinte, France, April 27, 2016 (GLOBE NEWSWIRE) -- Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting revenue of €183.7 million for the 1st quarter of 2016, representing a 63.8% increase (+8.1% like-for-like at constant exchange rates) from the same period last year.
Consolidated Group revenue (IFRS)
|In millions of euros, at 31 March|| |
|Sales in Europe||93.2||78.8||+ 18.4%|
|Sales in Other Markets||90.5||33.4||x 2.7|
|Total 1st quarter revenue||183.7||112.2||+63.8%|
Steady business growth on Guerbet's historical scope
The revenue figure includes the CMDS business over the period.
On a like-for-like basis, business grew in all geographical areas. The 1st quarter 2016 revenue in Europe totalled €82 million, up 5.7% at constant exchange rates. On Other Markets, sales rose strongly in the USA and in Asia.
At constant exchange rates, the business activities of the former CMDS scope fell 17.4% in Europe and 20.8% on Other Markets, representing an overall decrease of 20.3%.
For the 1st quarter on the Guerbet Group's historical businesses, the MRI segment generated €53.5 million, a 13.1% increase, thanks in particular to the rise in sales of Dotarem® in the US. The X-Ray segment is up 2.5% at €49.8 million, benefiting particularly from sales of Optiject® in countries where this CMDS product had already been distributed by Guerbet.
With steady sales for Lipiodol® and Patent Blue V, the IRT segment increased by 7.1%. The Imaging Solutions and Services (ISS) segment is stable, with sales amounting to €4.3 million.
On the former CMDS business segments, the drop in sales continued across the product portfolio, in line with the trend seen over the previous two financial years. The actions taken to curb this trend should begin to take effect in the second half of the year.
2016, a year of transition for the Group
2016 will be marked by the integration of the "CMDS" activity. The priority will be to maintain a level of growth greater than the market on the former Guerbet scope while gradually halting the decline in sales on the former CMDS scope. The goal is to stabilise consolidated sales in 2016 (+/-3%) before growth picks back up in 2017.
Publication of 2nd quarter 2016 revenue: 28 July 2016 after trading
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 revenue of €489M in 2015.
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 |
(+33)(0)1 56 88 11 25
(+33)(0)1 56 88 11 19
GUERBET : 1st quarter 2016 revenue http://hugin.info/159769/R/2007441/742089.pdf