GUERBET : Revenue at June 30, 2017
28 July 2017 - 2:03AM
€397.7 million at constant exchange rates, up 5.6%
Satisfactory
activity growth
Villepinte, July
27, 2017 - Guerbet (FR0000032526 GBT), a
global specialist in contrast agents and solutions for medical
imaging, is publishing revenue of €407.1 million for the 1st
half-year of 2017, up 8.1% at current exchange rates and 5.6% at
constant exchange rates (CER). In the second quarter, published
revenue stood at €204.0 million, up 5.7% at current exchange rates
and 3.8% at CER.
Consolidated
Group revenue (IFRS)
In millions of euros
at June 30 |
Change (%) |
2017
at current exchange rates
|
Change (%) |
2017
at constant exchange rates
|
2016
published
|
Sales in
Europe |
+0.6% |
190.9 |
+1.6% |
192.8 |
189.7 |
Sales in
Other Markets |
+15.6% |
216.2 |
+9.6% |
204.9 |
187.0 |
Total 1st half-year
revenue |
+8.1% |
407.1 |
+5.6% |
397.7 |
376.7 |
After a successful year in 2016,
focused on turning around the declining ex-CMDS business, Guerbet's
revenue for the first half-year of 2017 grew both in Europe and the
Other Markets. This positive development has come despite the
gradual withdrawal of certain products, which is already under way,
as part of the recently announced plan to streamline Guerbet's
product range. This includes products such as Oxilan®
and Hexabrix® in X-Ray
imaging, and Optimark® in MRI.
In Europe, in the second quarter,
the revenue at current exchange rates for the zone rose by 0.1% to
€96.6 million.
The exchange rate effect for Other
Markets resulted in a €11.3 million gain. Aside from this positive
impact, the increase in revenue was mainly due to sales in Asia,
and especially China, in the US and in Latin America. Sales at
current exchange rates were up 11.3% at €107.4 million for Other
Markets over the quarter.
At constant exchange rates,
activity over the first half-year breaks down as follows:
-
In the MRI segment, the
13.5% increase in revenue (€136.3 million) was supported by the
performance of Dotarem®, particularly
in the US and China
-
The X-Ray segment gained
2.9% to €188.5 billion, driven by strong Optiject®
sales
-
In the IRT segment, sales
fell by 5.6% to €23.9 million, because of temporary difficulties
with the supply of Lipiodol® and Patent
Blue V
-
The Imaging Solutions and
Services (ISS) segment grew 12.8% to €40.0 million, confirming
the trend that began at the end of the fiscal year 2016.
Activity growth
in 2017
Guerbet would like to note two
recent changes to the regulations and its competitive
environment:
-
The arrival of a new generic in Europe based on
the Group's main product (Dotarem)
-
The recent recommendations of the European
Medicines Agency's Pharmacovigilance Risk Assessment Committee
(PRAC - see the PRAC's press release of July 7, 2017), which
suspend marketing authorization for certain linear gadolinium-based
products that pose a higher risk of gadolinium accumulation. These
recommendations are good news for macrocyclic MRI contrast media
such as Dotarem. The European Medicines Agency's Committee for
Medicinal Products for Human Use (CHMP) has confirmed the PRAC's
analysis (press release of July 21). This recommendation has now
been submitted to the European Commission, which should make a
decision in September.
These two factors will have
opposite effects - one negative, the other positive - on the
Group's activity in the MRI segment.
Given how difficult it is to
assess these effects, the Group will not provide precise annual
guidance. As the first half-year was satisfactory, however, Guerbet
is maintaining its revenue and EBITDA growth target for fiscal year
2017.
Upcoming
events:
Publication of the 2017 half-yearly consolidated
accounts
September 26, 2017, after trading
Guerbet is a pioneer in the
contrast agents field with over 90 years' of experience and is one
of the leaders in medical imaging worldwide. It offers a full range
of pharmaceutical products, medical devices and services for X-ray
(XR) and Magnetic Resonance Imaging (MRI) scanners and for
Interventional Radiology and Theranostics (IRT) to improve the
diagnosis and treatment of patients. With 7% of its revenue and
more than 200 employees dedicated to R&D, Guerbet invests
heavily in research and innovation. Guerbet (GBT) is listed on
Euronext Paris (Segment B - Mid Caps) and generated €776 million in
revenue in 2016. For more information about Guerbet, visit
www.guerbet.com
For more information about Guerbet,
please visit www.guerbet.com
Jean-François Le Martret
Chief Financial Officer
+33 (0)1 45 91 50 00
|
Financial Communications
Benjamin Lehari
+33 (0)1 56 88 11 25
blehari@actifin.fr
Press
Jennifer Jullia
+33 (0)1 56 88 11 19
jjullia@actifin.fr
|
Press release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: GUERBET via Globenewswire
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