GUERBET : Revenue at September 30, 2017
October 25 2017 - 10:49AM
€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 euros
At September 30 |
9 months
2016 |
9 months
2017
at 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 revenue
February 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
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
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
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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