- Objective of a sales turnaround after the CMDS acquisition
achieved
- Growth in revenue in the fourth quarter for all activities and
all geographic regions
Villepinte, February 15, 2017 -
Guerbet (FR0000032526 GBT), a global specialist in contrast
agents and solutions for medical imaging, is reporting revenue of
€775.8 million at December 31, 2016, up 58.7% from 2015. This
change includes a negative currency effect of €13.0 million. At
constant exchange rates, and on a like-for-like basis (vs. the 2015
pro forma revenue), the Group posted stable sales of €788.8 million
(-0.1%) in line with the guidance. The main challenge in 2016 was
in fact to successfully turn around the declining sales of the
activity bought at the end of 2015.
The 7.1% growth in the fourth quarter reflects
this trend reversal and proves the successful integration of the
former CMDS activities. This performance allows the Group to
approach the year 2017 with confidence, a year that should see
growth in celebration of the Group's 90th birthday.
Consolidated Group revenue at current exchange rates
(IFRS)
In millions of euros |
12 months 2016 |
12 months 2015 pro forma* |
Change |
Published 2015 |
Q4 2016 |
Q4 2015 pro forma* |
Change |
Sales in Europe |
372.9 |
380.2 |
-1.9% |
326.5 |
98.6 |
97.5 |
+1.1% |
Sales in Other Markets |
402.9 |
409.1 |
-1.5% |
162.2 |
108.8 |
96.1 |
+13.3% |
Total |
775.8 |
789.3 |
-1.7% |
488.7 |
207.4 |
193.6 |
+7.1% |
* Integration of CMDS activities
Consolidated Group revenue at constant exchange rates
(IFRS)
In millions of euros |
12 months 2016 |
12 months 2015 pro forma* |
Change |
Q4 2016 |
Q4 2015 pro forma* |
Change |
Sales in Europe |
377.0 |
380.2 |
-0.8% |
100.0 |
97.5 |
+2.5% |
Sales in Other Markets |
411.8 |
409.1 |
+0.6% |
107.0 |
96.1 |
+11.5% |
Total |
788.8 |
789.3 |
-0.1% |
207.0 |
193.6 |
+7.0% |
* Integration of CMDS activities
Sales turnaround well under way in every
region
In Europe, the consolidated revenue at December
31, 2016 stands at €372.9 million, with 1.1% growth in the last
quarter.
In Other Markets, sales show a constant
improvement: -13.1% in Q1, -9.1% in Q2, +4.2% in Q3 and +13.3% in
Q4.
Continued strong growth in MRI and IRT and a
positive trend in X-ray and ISS
At constant exchange rates, the activity by
category of products breaks down as follows:
- MRI revenue totals €248.5 million, up 4.5%, driven by
sales of Dotarem® in the US, despite the gradual phase out of
Optimark®.
- The X-ray activity reported revenue of €384.6 million,
down 2.8%, following the voluntary abandoning of Hexabrix® and
Oxilan®. The return to growth of sales of Xenetix® and Optiray® in
the fourth quarter resulted in almost stable sales for Xenetix on a
full-year basis and a successful turnaround for Optiray (-11.9% in
Q1, -10.9% in Q2, -3.6% in Q3 and +17.6% in Q4).
- The IRT activity increased to €55.3 million, with a
continued strong growth over the year (+21.6%), thanks to the
performance of Lipiodol® and Patent Blue V.
- Finally, the Imaging Solutions and Services (ISS)
activity improved over the fourth quarter (+9.6%), with annual
revenue of €77.9 million (-2.4% compared with the 2015 pro forma
revenue).
As announced, the EBITDA in the 2nd half-year
should be less than in the 1st half-year due to the industrial
integration in progress, which temporarily affected the performance
of production sites, and the revaluation of inventories.
Outlook for 2017: resumption of
growth
2016 demonstrated the Group's capacity to make
rapid progress with the integration of the activity bought at the
end of 2015, while achieving a trend reversal.
In 2017, Guerbet will complete its integration
process by continuing to implement commercial, industrial and
logistics synergies. The Group is now embarking on a new phase in
its development and is consolidating its return to growth.
Upcoming events:Publication of the
2016 annual results March 29, 2017, before
trading
About Guerbet
Guerbet is a pioneer in the contrast agent
field, with 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
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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