DIAGNOSTIC MEDICAL SYSTEMS Record quarterly revenue: €10.1 million in the 1st quarter of 2023, organic growth +16%
Radiology: 6% growth in 1st quarter / +22% in the United States / First deliveries of record order from Fujifilm Healthcare Italy will begin 2nd quarter
Bone densitometry: strong quarterly growth: +69%
Confirmation of 2023 targets and perspectives
€40 million in revenue, i.e., double-digit organic growth
Expected increase in EBITDA margin
Diagnostic Medical Systems Group (Euronext Growth Paris - FR0012202497 - ALDMS) French medical imaging specialist, announces its consolidated revenue for the 1st quarter of 2023 (period from January 1 to March 31, 2023). Following the divestment of 17.00% of Hybrigenics' capital in February 2023[1], the DMS Group currently retains a 24.77% stake in the capital. As of January 1, 2023 Hybrigenics is no longer consolidated in the DMS Group accounts.
| Unaudited consolidated data in M€ IFRS standards | 1st quarter 2023 | 1st quarter 2022 | Variation |
|---|---|---|---|
| Revenue | 10.1 | 8.7[2] | +16% |
| Radiology activity | 7.7 | 7.3 | +6% |
| Bone densitometry activity | 2.4 | 1.4 | +69% |
The DMS Group generated consolidated revenue of €10.1 million in the 1st quarter 2023 representing +16% of organic growth2 and marking the largest quarterly revenue ever earned in a 1st quarter.
Review by activity
In Radiology, revenue amounted to €7.7 million, a quarterly growth of +6%. 1st quarter activity did not include any deliveries of the 96 FDX Visionary-RF Premium remote-controlled radiology tables won in a tender by Fujifilm Healthcare Italy[3]. The first deliveries for this order will begin in the 2nd quarter of 2023 and will ramp up throughout the year.
The Radiology business continued its strong development in the United States at the start of the exercise, with +22% growth in the region, driven by distribution agreements with Fujifilm Healthcare and Carestream Health. The DMS Group manufactures white-label remote-controlled radiology tables offered by:
- Fujifilm Healthcare in Europe, Africa, Middle East, and North America.
- Canon Medical Systems Europe in the Europe area.
- Carestream Health in North and South America.
DMS Group also markets its solutions under its own brand, Apelem, to a network of 140 distributors around the world.
In Bone densitometry, the Group registered a strong 1st quarter 2023, recording +69% growth. This performance reflects the success of our distribution agreement with Fujifilm Healthcare as well as an acceleration in sales in Europe and Asia, where sales activities had begun to resume at the end of 2022.
Confirmation of 2023 revenue target: €40 million
At the end of an historic 1st quarter, the Group remains confident in its objective of €40 million consolidated annual revenue. The Radiology activity will begin deliveries of the 96 tables to Fujifilm Healthcare Italy over the next few quarters, and sustained activity in both radiology and bone densitometry will allow the Group to reach double-digit organic growth compared to 2022.
The Group also confirms the improvement in its profitability in 2023, with an expected improvement in its EBITDA margin[4].
As set forth in the Imaging 2027 plan, the DMS Group has fixed the objectives of registering €60 million revenue and an EBITDA margin of 14% in 2027.
Financial calendar 2023
| Date | Event |
| April 28, 2023 | Publication of 2022 annual results |
| July 20, 2023 | Publication of 2023 half-year revenue |
| September 29, 2023 | Publication of 2023 half-year results |
| October 19, 2023 | Publication of 2023 3rd quarter revenue |
| January 18, 2024 | Publication of 2023 annual revenue |
| April 30, 2024 | Publication of 2023 annual results |
The publications will be made after Euronext Paris market closing. These dates are given as an indication, they may be changed if necessary.
About DMS Group
The DMS Group is a French specialist and recognized player in medical imaging, with high-end imaging solutions dedicated to digital radiology and bone densitometry, through its DMS Imaging division.
The DMS Group is on every continent through a network of over 140 national distributors, subsidiaries and joint ventures.
DMS Group is quoted on the Paris Euronext market (ISIN: FR0012202497 - memo: ALDMS).
More information on www.dms.com.
FREE SUBSCRIPTION TO THE FINANCIAL INFORMATION OF DMS GROUP AT WWW.ACTUSNEWS.COM.
Contacts
| DMS Group | ||
| Samuel SANCERNI | Chairman & CEO | +33(0)4 67 50 49 00 |
| ACTUS FINANCE | ||
| Mathieu OMNES | Investors relations | +33(0)1 53 67 36 92 |
| Fatou-Kiné N'DIAYE | Press Relations | +33(0)1 53 67 36 34 |
[1]Read press release of February 8, 2023.
[2]Revenue for the 1st quarter of 2023 does not include revenue from Hybrigenics, which has been deconsolidated since January 1, 2023. As a reminder, Hybrigenics had generated revenue of €0.2 million in the 1st quarter 2022.
[3]Read press release of January 12, 2023
[4]EBITDA corresponds to the recurring operating income before interest, taxes, depreciations, and amortization.
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Regulated information:
Quarterly financial reporting:
- First quarter financial report
Full and original press release in PDF: https://www.actusnews.com/news/79463-dms-group_pr_q1-2023_20042023_en.pdf
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