BioMérieux: hailed for its business review and targets
April 09, 2024 at 10:14 am EDT
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bioMérieux's share price soared by nearly 8% after the in vitro diagnostics specialist released a trading update for the first three months of the year, accompanied by the presentation of its strategic plan and five-year objectives.
In line with consensus, sales for the first quarter of 2024 came in at 965 million euros, up 9.8% at constant exchange rates and scope of consolidation, enabling the company to confirm its objectives for the full year.
In addition, bioMérieux has indicated that it is aiming for organic sales growth of 7% on average per annum over 2024-28, and contributory ROC of 20% of sales in 2028, targets that "would be at the higher end of expectations", according to Oddo BHF.
First-quarter sales are satisfactory, and elements relating to CMD offer an additional degree of visibility which, in a DCF approach, should rather give the consensus some material to be constructive", adds the research department.
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bioMérieux designs, develops, produces, and sells systems used in clinical practice to diagnose infectious diseases (including HIV, tuberculosis, and respiratory infections), cancers, and cardiovascular pathologies based on a biological sample (blood, saliva, urine, etc.). Net sales break down by sector of application as follows:
- medical applications (84.4%): in industry, microbiological testing of samples from finished products, materials during the manufacturing process, or the environment, primarily in the food-processing, pharmaceutical, and cosmetics sectors;
- industrial applications (15.6%).
The group's diagnostic systems consist of three elements with related services: reagents, instruments (or platforms or analyzers), software, and services.
Net sales are distributed geographically as follows: Europe/Middle East/Africa (32.4%), North America (44.1), Asia/Pacific (17.3%) and Latin America (6.2%).