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Guerbet — Earnings Release 2015
Jul 28, 2015
1392_iss_2015-07-28_81f4f7b7-8883-4b39-9f37-4baf3d01527f.pdf
Earnings Release
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Revenue at 30 June 2015
€227.3 Million; +8.1% at constant exchange rates
Villepinte, 28 July 2015 - Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting second quarter revenue up by 4.4%, at constant exchange rates. Cumulative revenue totalled €227.3 million at the end of June 2015, up by 12.2%, or +8.1% excluding exchange rate effects.
| In millions of euros | 1st half 2015 |
1st half 2014 |
Change | Q2 2015 | Q2 2014 | Change |
|---|---|---|---|---|---|---|
| Sales in Europe | 158.7 | 144.0 | 10.2% | 80.0 | 72.0 | 11.1% |
| Sales in Other Markets | 68.6 | 58.6 | 17.0% | 35.1 | 34.1 | 3.2% |
| Total | 227.3 | 202.6 | 12.2% | 115.1 | 106.1 | 8.6% |
Consolidated Group revenue (IFRS)
Strong growth in Europe, expansion of Dotarem® sales in the United States
In Europe, second quarter revenue totalled €80.0 million, an increase of 11.1%. At constant exchange rates, cumulative revenue for the first half of the year amounted to €155.2 million, up by 8.9%. This increase especially relates to Germany, the United Kingdom and Turkey. Growth in Europe was 10.2% at current exchange rates, with a favourable exchange rate effect mainly in Switzerland.
On Other Markets, second quarter revenue amounted to €35.1 million, up by 3.2%, and continued to benefit from the strong growth of Dotarem® in the United States, which offset a slowdown in Asia and Brazil. The increase remained steady over the first half at +17.0%, driven by an excellent first quarter.
Press release
Strong contribution to growth by Xenetix® and Dotarem®
With €50.4 million in revenue in the second quarter, up by 23.3% compared with the same period in 2014, the MRI segment relied on the good performance of Dotarem® , particularly in the USA and Germany. On the first half, the MRI segment grew by 20.8% to €97.7 million.
Second quarter revenue in the X-Ray segment totalled €49.5 million compared with €49.3 million in the same period last year. Sales of Xenetix® increased, offsetting the decrease in the segment's other products. The segment's sales grew by 1.8% in the first half to €98.1 million.
On the IRT segment, cumulative sales of Lipiodol® and Patent Blue V were €21.5 million at 30 June, a 37.0% increase. Lastly, the medical devices (MD) segment, now called Imaging Solutions and Services (ISS), posted 7.6% growth with €9.0 million in revenue.
2015 outlook
After a successful first half for the Group, Guerbet will continue to pay close attention to the launch of Dotarem® generics in Europe as well as the increased production rates of the new ScanBag® filling line, which made encouraging but insufficient progress over the last three months.
In the end, the Group has confirmed its organic sales growth in 2015.
The acquisition of Mackinkrodt's "contrast agents and injection systems" business, announced this morning, will significantly change the company's profile: with more than €800 million in 2014 pro forma revenue and nearly 2,500 employees, Guerbet doubles its revenue, expands its geographic footprint and strengthens its positions in both contrast agents and injection solutions.
Upcoming events:
Publication of 2015 half-yearly consolidated accounts: 29 September 2015 before 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 01 45 91 50 00
Christophe de Lylle/Benjamin Lehari 01 56 88 11 11 [email protected]/[email protected]
Press Jennifer Jullia 01 56 88 11 19 [email protected]