Guerbet: Q1 2022 revenue
Q1 2022 sales
Business growth
Sales Increase of 2.7% compared with Q1 2021
(€181.1m)Up 0.5% at constant exchange rates (CER1)
2022 guidance confirmed
Villepinte, Thursday, April 21, 2022 –
Guerbet (FR0000032526 GBT), a global specialist in
contrast agents and solutions for medical imaging, reports its
revenue for first-quarter 2022. As of 31st of March, revenue
totaled €181.1 million, up 2.7% from first-quarter 2021 (€176.3
million). This growth in business activity includes a favorable
foreign exchange effect of €3.8 million. At constant exchange
rates, sales increased 0.5% in first-quarter 2022.
Geographical distribution of
consolidated group revenue (IFRS)
In millions of euros,As of March 31, 2022 |
Change (%) |
Q1 2022at current exchange
rates |
Change (%) |
Q1 2022at constant exchange
rates1 |
Q1 2021 |
Sales in EMEA |
-0.1% |
82.6 |
+1.1% |
83.5 |
82.7 |
Sales in Americas |
+3.9% |
54.6 |
-3.0% |
51.0 |
52.6 |
Sales in Asia |
+6.7% |
43.8 |
+4.0% |
42.7 |
41.1 |
Total |
+2.7% |
181.1 |
+0.5% |
177.3 |
176.3 |
In the EMEA region, business
grew slightly at constant exchange rates as volumes increased
against a backdrop of ongoing controlled price erosion in France
and Germany.
In the Americas, sales rose
3.9% at current exchange rates, including a favorable foreign
exchange effect of €3.6 million. At constant exchange rates,
performance in the first quarter was marked by two one-off
effects:
- The implementation in 2021 of a global framework agreement for
Lipiodol sales with an US based customer, impacting quarterly sales
phasing.
- Delays in production at the North Carolina site resulting from
local labor-market tensions. Measures have been taken to catchup
these delays, with business activity set to benefit in the second
half of the year.
The negative impact on prices following the
arrival of generic Dotarem® is consistent with the Group's
expectations.
In Asia, business activity is
growing strongly, though the initial profits from direct sales in
China will only be felt from the second quarter onwards. This
performance was also highly satisfactory given the health situation
in Japan, which remains difficult.
Distribution of consolidated group
revenue by activity (IFRS)
In millions of euros,As of March 31, 2022 |
Change (%) |
Q1 2022at current exchange
rates |
Change (%) |
Q1 2022at constant exchange
rates1 |
Q1 2021 |
Diagnostic Imaging |
+4.1% |
160.7 |
+2.0% |
157.5 |
154.4 |
MRI |
+2.5% |
59.6 |
+0.7% |
58.5 |
58.1 |
X-Ray |
+5.1% |
101.1 |
+2.8% |
98.9 |
96.3 |
Interventional Imaging |
-7.1% |
20.4 |
-9.7% |
19.8 |
21.9 |
Total |
+2.7% |
181.1 |
+0.5% |
177.3 |
176.3 |
Diagnostic Imaging revenue grew
2.0% at constant exchange rates.
- MRI volumes increased. Sales at CER rose
slightly, by 0.7% to €58.5 million.
- X-Ray revenue gained 2.8% on strong Xenetix®
sales volumes.
Interventional Imaging sales
were down compared with first-quarter 2021, impacted by the global
agreement in the US mentioned previously and a base effects in the
APAC region. As a reminder, first-quarter 2021 sales were 19.0%
higher than first-quarter 2020 sales at CER.
2022 guidance confirmed
The Group is confirming its ambitions for 2022.
It expects further revenue growth, between 2% and 4% on a
like-for-like basis and at constant exchange rates. Regarding
operating profit, given the inflationary environment, Guerbet aims
to deliver an EBITDA margin at least unchanged from 2021, excluding
extraordinary expenses related to the optimization of the Group’s
operating structure and changes in the sales model in China.
Upcoming events:
Reporting of first-half 2022
revenueThursday, July 21, 2022, after trading
About
Guerbet
At Guerbet, we build lasting relationships so
that we enable people to live better. That is our purpose. We are a
global leader in medical imaging, offering a comprehensive range of
pharmaceutical products, medical devices, and digital and AI
solutions for diagnostic and interventional imaging. As pioneers in
contrast products for 95 years, with more than 2,700 employees
worldwide, we continuously innovate and devote 8% to 10% of our
revenue to research and development in five centers in France,
Israel, and the United States. Guerbet (GBT) is listed on Euronext
Paris (segment B – mid caps) and generated €732 million in revenue
in 2021. For more information, 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 authorization is granted), decisions by regulatory
authorities (such as the US 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 labeling 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 activities can be found in Chapter 4.9 “Risk factors” of
the Group’s Universal Registration Document filed with the AMF
(French financial markets authority) under number D-22-0242 on
Tuesday, April 5, 2022, available on the Group’s website
(www.guerbet.com).
For more information about Guerbet, please visit
www.guerbet.com
Contacts
Jérôme
EstampesChief 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 |
1 Constant exchange rates: the exchange rate impact was
eliminated by recalculating sales for the period on the basis of
the exchange rates used for the previous fiscal year.
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