H1 16 sales : well on track
EARNINGS/SALES RELEASES
FACT

DMS released H1 16 sales which reached €17m (+14%).


ANALYSIS

The level of sales achieved in H1 16 includes the contributions of AXS Medical and Stemcis (consolidated as from July and October 2015 respectively). On a lfl basis, H1 sales still amounted to €16.5m (+10.7%). Also note that the growth rate on the historical business (radiology and bone densitometry) is even higher at 14% (with a flat development at Alpha Mos, where management is reshaping the offer). As a comparison, we expect full-year sales to grow +5% (+9.5% on the historical perimeter, -8% in new businesses).


IMPACT

No changes to our numbers after these numbers despite the fact they suggest the group is well on track to at least reach our full-year forecasts. H1 16 results are due on 30 September.