GUERBET : Revenue at September 30, 2018
October 25 2018 - 10:46AM
€614.3M at constant exchange rates, up
2.1%
Villepinte, 25 October 2018 -
Guerbet (FR0000032526 GBT), a global specialist in contrast
agents and solutions for medical imaging, is reporting revenue of
€581.4M for the first nine months of the 2018 financial year, down
3.3% due to a highly unfavourable currency effect representing
€32.9M. At constant exchange rates, the Group's revenue increased
2.1% to €614.3M, identical to the dynamics observed in the first
half of the year.
Consolidated Group revenue (IFRS)
In
millions of eurosat 30 September |
Change
(%) |
2018at current exchange rates
|
Change
(%) |
2018at constant exchange rates
|
Published 2017 |
Sales in Europe |
-9.7% |
254.1 |
-7.8% |
259.4 |
281.3 |
Sales in Other Markets |
+2.3% |
327.3 |
+10.9% |
354.9 |
320.1 |
Total |
-3.3% |
581.4 |
+2.1% |
614.3 |
601.4 |
In Europe, sales were down 7.8% at constant
exchange rates. This trend mainly concerned France and Germany.
In Other Markets, the unfavourable currency
effect was still very significant with a negative impact of €27.6M
(mainly Brazil and US). At constant exchange rates, revenue as of
the end of September totalled €354.9M, corresponding to an increase
of +10.9%. In Japan, the successful start of direct distribution in
early October will allow the Group to speed up its penetration in
the world's number 2 market.
At constant exchange rates, Diagnostic Imaging
revenues amounted to €538.0M, down 1.7% compared with the first
nine months of the 2017 financial year:
- On the MRI segment, revenue totalled €203.2M, compared
with €207.3M for the same period in 2017. Dotarem® sales continued
to grow in terms of volume, but this effect was partially offset by
a decrease in prices, mainly in Europe (impact of the generic). In
addition, the gradual withdrawal of Optimark® led to a net decrease
in this product which weighed on the MRI segment, down 2.0% in
total;
- On the CT/Cath Lab segment, sales generated €274.9M
versus €280.5M for the same period in 2017 (-2%). This decline
primarily concerned Optiray®, as its revenue was still affected by
an adverse base effect compared with the first half of 2017. As a
reminder, in early 2018, this product moved to a new distributor in
China, offering a lower selling price but no contribution to
marketing costs, resulting in a negative but ultimately
margin-neutral impact on revenue. The sales momentum of Xenetix®
was satisfactory;
- On the Injection Systems and Services (SIS) segment,
sales remained stable overall at €60.7M compared with €60.2M at the
end of September 2017.
In Interventional Imaging, revenue totalled
€48.6M at constant exchange rates, a 26.8% increase compared with
the first nine months of the 2017 financial year. After obtaining
the 510k (FDA clearance) in the US, the first sales of Accurate
Medical Therapeutics microcatheters will marginally contribute to
the 4th quarter revenue.
The outlook for 2018 remains unchanged,
namely:
- slightly greater revenue than in the 2017 financial year at
constant exchange rates;
- restated EBITDA at constant exchange rates (excluding the
full-year effect of revaluation of inventories for €15.6M) around
15% of revenue.
Upcoming events:
Publication of 2018 revenue
14 February 2019, 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 across its four centres 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 management and 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) and on the AMF
website (www.amf-france.org).
For more information about Guerbet, please visit
www.guerbet.com
Contacts
Guerbet |
Actifin |
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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