Eurofins raises FY 2015 reported revenue objective to EUR 1.9bn as 36.5% revenue growth in Q3 2015 confirms strong underlying...
October 26 2015 - 1:30AM
Business Wire
Regulatory News:
Eurofins Scientific (Paris:ERF):
26 October 2015
- Revenues grew 36.5% in Q3 2015 to EUR
505m, bringing revenues in the first nine months of 2015 (NM 2015)
to EUR 1,347m, a 32.9% increase compared NM 2014 (25.4% at constant
currency exchange rates).
- Organic growth* in Q3 2015 was 8%, once
again well above the Group objective of 5%. For NM 2015, organic
growth stood at 6.5%.
- Year to date, Eurofins has completed 17
acquisitions for a total annualised revenues of EUR 570m1.
- Revenues from the US, where the Group
continues to expand rapidly, and where it generated over a third of
total revenues, increased 85% in NM 2015 (+52% at constant currency
exchange rates).
- Positive trends continue to underpin
Group’s performance, with growth accelerating in some of its
markets in the third quarter. Therefore, Eurofins is raising its
objective for full year 2015 reported revenues to EUR 1.9bn, from
the recently-upgraded objective of EUR 1.8bn.
Comments from the CEO, Dr. Gilles Martin: “The Group’s
results in the first nine months of 2015 are consistent with strong
operating momentum across our businesses, and our ability to
benefit from these positive trends as we leverage our network
capabilities. Eurofins’ performance year to date puts us on track
to deliver revenues of EUR 1.9bn on a reported basis for the full
year, as well as achieve revenues in excess of EUR 2.2bn and
adjusted EBITDA of close to EUR 400m on a pro-forma basis. The
underlying fundamentals, as evidenced by our performance year to
date, support our Group-wide investment programs, and our objective
of doubling in size again by 2020 and reach revenues of EUR 4bn by
then.”
EURm
NM
2015 NM 2014 % Growth
Eurofins Group
Consolidated Revenues 1,347 1,014
32.9%
Solid operating trends were sustained across most of Eurofins’
businesses and geographies. The US, currently Eurofins’ largest
market generating 34% of revenues in NM 2015, once again achieved
growth well above the Group’s objective, supported by positive
trends across most of Eurofins’ businesses. In France, where 16% of
total revenues were generated, the Group continues to generate
strong organic growth above objective, driven by faster market
share gains in both food and environmental testing. Organic growth
in Germany was comfortably above Group objective in NM 2015, as
growth accelerated to high single-digit in the third quarter
following a slower start of the year. Across the rest of Europe,
trends remain broadly positive, offsetting the trough in multi-year
agrosoil testing cycle and some currency headwinds especially in
the Nordic region. The Group’s business in emerging markets and in
the Asia Pacific region continued to generate strong, double-digit
growth, as Eurofins continues to develop its footprint in these
geographies.
1 Including the acquisition of Biomnis, which closed on 14
October 2015 (i.e. after the close of Q3 2015 reporting period), as
well as Boston Heart Diagnostics, which was signed in 2014 but
closed only on 01 February 2015.
*Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine
Months or Full Year) - non-IFRS measure calculating the growth in
revenues during that period between 2 successive years for the same
scope of businesses using the same exchange rates but excluding
discontinued operations.
For the purpose of organic growth calculation for year Y, the
relevant scope used is the scope of businesses that have been
consolidated in the Group’s income statement of the previous
financial year (Y-1). Revenue contribution from companies acquired
in the course of Y-1 but not consolidated for the full year are
adjusted as if they had been consolidated as from 1st January Y-1.
All revenues from businesses acquired since 1st January Y are
excluded from the calculation.
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food, environment and
pharmaceutical products testing. It is also one of the global
market leaders in agroscience, genomics, discovery pharmacology and
central laboratory services. In addition, Eurofins is one of the
key emerging players in specialty clinical diagnostic testing in
Europe and the USA.
With 20,000 staff in around 200 laboratories across 38
countries, Eurofins offers a portfolio of over 130,000 reliable
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products, as well as for innovative clinical
diagnostic. The Group provides its customers with high-quality
services, accurate results on time and expert advice by its highly
qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by
expanding both its technology portfolio and its geographic reach.
Through R&D and acquisitions, the Group draws on the latest
developments in the field of biotechnology and analytical chemistry
to offer its clients unique analytical solutions and the most
comprehensive range of testing methods.
As one of the most innovative and quality oriented international
players in its industry, Eurofins is ideally positioned to support
its clients' increasingly stringent quality and safety standards
and the expanding demands of regulatory authorities around the
world.
The shares of Eurofins Scientific are listed on the Euronext
Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg
ERF FP).
Important disclaimer:
This press release contains forward-looking statements and
estimates that involve risks and uncertainties. The forward-looking
statements and estimates contained herein represent the judgement
of Eurofins Scientific’ management as of the date of this release.
These forward-looking statements are not guarantees for future
performance, and the forward-looking events discussed in this
release may not occur. Eurofins Scientific disclaims any intent or
obligation to update any of these forward-looking statements and
estimates. All statements and estimates are made based on the data
available to the Company as of the date of publication, but no
guarantee can be made as to their validity.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151025005013/en/
For more information, please visit
www.eurofins.com or contact:Eurofins Investor
Relations+32-2-766 1620ir@eurofins.com
Enerplus (NYSE:ERF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Enerplus (NYSE:ERF)
Historical Stock Chart
From Jul 2023 to Jul 2024