GUERBET : Revenue at June 30 2018
July 26 2018 - 10:48AM
€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 eurosat June 30 |
Change
(%) |
2018at current exchange rates
|
Change
(%) |
2018at 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 201825 September 2018, after
trading
About Guerbet
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
Contacts
Jean-François Le
MartretChief Financial Officer+33 (0)1 45 91 50 00
|
Financial
CommunicationsBenjamin Lehari+33 (0)1 56 88 11
25blehari@actifin.fr PressJennifer Jullia+33 (0)1 56
88 11 19jjullia@actifin.fr |
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