Eurofins Delivers Strong Q1 2014 Results
06 May 2014 - 3:15PM
Business Wire
Regulatory News:
Eurofins (Paris:ERF):
- Revenues increased 13% year-on-year to
EUR 304m (16% at constant currency).
- Organic growth of over 8% was achieved
in Q1 2014 despite the strong comparable results in Q1 2013, which
was positively impacted by the horsemeat scandal.
- 8 acquisitions with total annualised
revenues of about EUR 70m signed.
- Growth trends remain positive across
Eurofins’ businesses and across geographies.
Comments from the CEO, Dr. Gilles Martin: “Our results in
the first quarter reflect both the continued positive trends in our
industry, and the benefits of our ongoing investments into our
network. The strong performance in the seasonally quiet period
allows us to remain optimistic of achieving our objective of EUR
1.4bn of revenues and EUR 250m of adjusted EBITDA for the full year
2014.”
Q1 2014 EURm
Q1 2014 Q1 2013 %
Growth
Eurofins Group Revenues 304 270 13%
Eurofins achieved revenues of EUR 304m in the first quarter,
representing growth of 13% compared to Q1 2013, over 8% of which
was organic. Currency impact during the quarter was almost -3%,
whilst acquisitions made up the remainder of the growth, given the
timing of the completion of transactions. The strong organic growth
during the quarter is all the more notable given the strong
comparable results in Q1 2013, which was influenced by the
horsemeat scandal. Organic growth of companies that are not in
significant restructuring stood at 9% during the quarter.
Food testing remained strong as the Group leverages the scale of
its global network to further expand its share in both new and
existing markets. Positive trends continue to drive growth in
Eurofins’ pharmaceutical testing business, despite the temporary
negative impact of the reorganization of the Group’s central
laboratory and discovery services activities in the US. Growth in
environmental testing was supported by the mild winter in much of
Europe, partially offsetting the impact from the ongoing
restructuring challenges at IPL in France and severe winter in the
US.
Across the Group’s geographies, solid trends were reflected in
strong growth. In the US, regulatory catch-up continues to drive
strong growth in food testing, whilst Lancaster’s continued market
share expansion is reflected in sustained performance in the
Group’s pharmaceutical products testing business. In Germany,
Eurofins’ market share gains continued to accelerate in both food
and environmental testing, as reflected in double-digit organic
growth generated by the German operations. The uptick in food
testing in France, as well as in some parts of environmental
testing, more than offset the continued impact of the IPL
restructuring. In the UK, the Group generated good organic growth
during the quarter, despite the strong comparable results in the
same period last year, which included impact from the horsemeat
scandal. In the meantime, organic growth generated by the Nordic
businesses was in-line with the Group’s objective, partially due to
the milder winter compared to last year, benefitting the
environmental testing businesses. Finally, the Group’s expanding
activities in emerging markets and the Asia Pacific region
continued to post strong growth.
Eurofins has signed 8 acquisitions with total annualised
revenues of about EUR 70m to date, including DDS in the US, Omegam
in The Netherlands and Applus Agrofood Testing in Spain. Out of the
8 transactions, only 2 have been consolidated during the quarter,
with marginal financial impact.
There has been no material change in the Company’s financial
position during the quarter despite the multiple acquisitions and
the ongoing network investments that the Group is undertaking.
For more information, please visit
www.eurofins.com
Notes for the editor:Eurofins – a global leader in
bio-analysisEurofins Scientific is the world leader in food and
pharmaceutical products testing. It is also number one in the world
in the field of environmental laboratory services and one of the
global market leaders in agroscience, genomics, discovery
pharmacology and central laboratory services.
With over 15,000 staff in more than 190 laboratories across 36
countries, Eurofins offers a portfolio of over 100,000 reliable
analytical methods for evaluating the safety, identity,
composition, authenticity, origin and purity of biological
substances and products. 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 NYSE
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 information
available to the Company’s management as of the date of
publication, but no guarantee can be made as to their validity.
Eurofins Investor RelationsPhone: +32-2-766 1620E-mail:
ir@eurofins.com
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