Guerbet: Revenue at September 30, 2021
Sustained level of activity in Q3
2021
Q3 sales: €177.9 million (+4.6% like for
like and CER1)
9-month cumulative sales: €541.0 million
(+7.9% like for like and CER)
Returning to revenue growth in 2021
objective confirmed
Villepinte, October 21, 2021 –
Guerbet (FR0000032526 GBT), a global specialist in
contrast agents and solutions for medical imaging, today reported
its sales for the first nine months of the year. At September 30,
2021, sales were at €541.0 million, up 0.9% compared to
€536 million at September 30, 2020, including an unfavorable
forex impact of €17.5 million. Excluding forex effects, on a
like-for-like basis, revenues were up 7.9% from September 30,
2020.
After a shortfall in Q1 and a strong increase in
Q2 compared with the 2020 fiscal year, Q3 2021 was marked by a
satisfactory increase on like-for-like sales of 4.6% excluding
forex effects.
Geographical distribution of
consolidated group sales (IFRS)
In millions of euros,at September 30 |
Change (%) |
9 months 2021at current
exchange rates |
Change (%) |
9 months
2021 at constant exchange
rates |
9 months 2020 |
Sales in EMEA |
+5.5% |
249.7 |
+6.4% |
251.8 |
236.7 |
Sales in Americas |
+9.5% |
166.4 |
+16.9% |
177.5 |
151.9 |
Sales in Asia |
-3.1% |
124.9 |
+0.3% |
129.2 |
128.8 |
Like-for-like total |
+4.5% |
541.0 |
+7.9% |
558.5 |
517.5 |
Subcontracting activity (Montreal plant) |
N/A |
0 |
N/A |
0 |
18.5 |
Total |
+0.9% |
541.0 |
+4.2% |
558.5 |
536.0 |
In EMEA, the robust nine-month
growth was offset by a slight decline in activity in Q3 due to the
expected price decreases in France and Germany.
In the Americas, Q3 sales were
significantly up by 22.2%, benefiting from good sales of Dotarem®,
the forex effect being neutral over the period. Cumulative
like-for-like sales over the nine months were up 16.9% (excluding
the contribution of the Montreal plant in Canada sold on July 16,
2020) and excluding the unfavorable forex effect of
€11.1 million, mainly attributable to the Brazilian real and
the US dollar.
In Asia, Japan Q3 sales
excluding Forex effect were stable, the country still being
impacted by Covid. China remained dynamic with double-digit
growth offsetting softer sales with distributors due to base
effects.
Distribution of consolidated group
revenue by activity (IFRS)
In millions of euros,at September 30 |
Change (%) |
9 months 2021at current
exchange rates |
Change (%) |
9 months 2021at constant
exchange rates |
9 months2020 |
Diagnostic Imaging |
+3.2% |
478.9 |
+6.6% |
494.3 |
463.8 |
MRI |
+4.3% |
175.5 |
+7.7% |
181.2 |
168.3 |
X-Ray2 |
+2.6% |
303.4 |
+5.9% |
313.1 |
295.62 |
Interventional Imaging |
+15.8% |
62.1 |
+19.6% |
64.1 |
53.6 |
Like-for-like total |
+4.5% |
541.0 |
+7.9% |
558.5 |
517.5 |
Subcontracting activity (Montreal plant) |
N/A |
0 |
N/A |
0 |
18.5 |
Total |
+0.9% |
541.0 |
+4.2% |
558.5 |
536.0 |
Diagnostic Imaging revenue YTD
September was up 6.6% at constant exchange rates, with a Q3 up 3.4%
compared with September 30, 2020.
- Nine-month revenue in MRI amounted to
€175.5 million (+4.3% at actual exchange rates and +7.7% at
constant exchange rates). Sales were stable over Q3.
- X-ray revenue at constant exchange rates
increased by 5.9%, supported by the remarkable performance of
Xenetix® during Q3 2021.
In Interventional Imaging,
sales remained very dynamic over the quarter (+15.1% excluding
forex effects), bringing nine-month sales to €62.1 million or
+19.6% at constant exchange rate. Interventional Imaging continues
to be supported by Lipiodol® and has confirmed its status over the
years as an engine for growth with a two-fold increase in revenue
over the last 4 years.
2021 objectives confirmed
The Group is confident in its ability to
maintain this pace of development. While being cautious in the face
of a varying international health and economic situation, the Group
anticipates moderate growth in its reported revenue for 2021,
incorporating a like-for-like increase of 6% to 8% at constant
exchange rates. In terms of operating profitability, this increase
in activity will result in a reported EBITDA/revenue ratio of at
least 14.1%. In the medium term, the Group foresees a gradual
improvement in the EBITDA/revenue ratio, enabling it to create
strong, sustainable growth.
Upcoming events:
Publication of 2021 full-year
revenueThursday, February 10, 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
leader in medical imaging worldwide, offering a comprehensive range
of pharmaceutical products, medical devices, and digital and AI
solutions for diagnostic and interventional imaging. A pioneer in
contrast media for 95 years, with more than 2,600 employees
worldwide, we continuously innovate and devote 10% of our sales to
research and development in four centers in France, Israel, and the
United States. Guerbet (GBT) is listed on Euronext Paris (segment
B – mid caps) and generated €712 million in revenue in 2020.
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-21-0360 on
April 27, 2021, 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 On a like-for-like basis and at constant
exchange rates
2 X-ray contributions of Curium, Japan Iodine, and Urology added
back for €5.0 million over the first nine months of the 2020
fiscal year. At September 30, 2020, reported revenue was
€290.5 million
- 21102021- Revenue at September 30, 2021
Guerbet (LSE:0ELV)
Historical Stock Chart
From Mar 2024 to Apr 2024
Guerbet (LSE:0ELV)
Historical Stock Chart
From Apr 2023 to Apr 2024