Revenue at September 30, 2016
Sales variance stabilized at -2.3% at constant exchange rates
Level of sales in line with expectations
Villepinte, France, Oct. 24, 2016 (GLOBE NEWSWIRE) -- Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting revenue of €568.4 million at September 30, 2016, up 65.4% from 2015, continuing the momentum started in the first half of 2016. This growth figure includes a negative currency impact of €13.4 million mainly from the Brazilian real and the Argentine peso. At constant exchange rates, the Group posted sales of €581.9 million, a limited decrease of 2.3% from the pro forma sales at the end of September 2015 and still in line with the sales stabilization target of +/-3%. With revenue of €191.7 million for third quarter 2016, the strong sales momentum remains comparable with second quarter 2016 (€193.0 million).
Consolidated Group revenue (IFRS)
| In millions of euros | 9 months 2016 | 9 months 2015 pro forma* | Change | Reported 2015 | 1st half 2016 | 1st half 2015 pro forma | Change |
| Sales in Europe | 274.3 | 282.7 | -2.9% | 236.7 | 189.7 | 187.5 | +1.2% |
| Sales in Other Markets | 294.1 | 313.1 | -6.1% | 106.9 | 187.0 | 210.3 | -11.1% |
| Total | 568.4 | 595.8 | -4.6% | 343.6 | 376.7 | 397.8 | -5.3% |
* Integration of CMDS activities
At constant exchange rates, sales growth is in line with the revenue stabilization objective (+/-3%)
In Europe, consolidated revenue at September 30, 2016 totaled €274.3 million compared with €282.7 million in 2015 in its pro forma version, including a negative currency impact of €2.8 million. The decline in sales was mainly confined to Russia. The region's third-quarter revenue totaled €84.6 million compared with €95.1 million in 2015 (pro forma).
Outside Europe, the Group's sales fell to €294.1 million compared with €313.1 million in 2015 (pro forma), including a negative currency effect of €10.6 million. At constant exchange rates, there was a slight decrease of 2.7%, benefiting particularly from sales of Dotarem ® in the US. Third-quarter revenue in Other Markets increased to €107.1 million compared with €102.8 million in 2015 (pro forma).
Favorable momentum in MRI and IRT, growth expected in X-ray and ISS
At constant exchange rates, the activity breaks down as follows:
- revenue for MRI totaled €183.2 million, up 3.7% (€176.6 million pro forma 2015),
- the X-Ray segment was down 5.9% at €282.5 million, still mainly due to Optiray ® ,
- the IRT segment grew 22.3%, exceeding €40 million in revenue, thanks to the performance of Lipiodol ® and Patent Blue V,
- lastly, the Imaging Solutions and Services (ISS) segment was down 5.9% with revenue of €58.1 million.
2016 outlook: confirmation of annual targets
The performance level for the first nine months of the year is within the window of +/-3% announced as the full-year target, allowing the Group to confirm this goal.
Upcoming events:
2016 revenue: February 15, 2017, after 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 €789 million in pro forma revenue in 2015.
For more information about Guerbet, please visit www.guerbet.com
Contacts
| Guerbet | Actifin |
| 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 |
GUERBET : 3rd quarter 2016 revenue http://hugin.info/159769/R/2050953/767264.pdf
