Eurobio Scientific last night announced lower earnings for the 2023 financial year, but set itself the target of returning to growth in both sales and margins.

Penalized by the end of the Covid-related effect, the specialist in in vitro medical diagnostics and life sciences saw its operating income fall by 39% last year to 22.5 million euros.

Net income for 2023 came to 4.8 million euros, down 81%.

In its press release, the group explains that it has also suffered from its ongoing strategic transformation, notably with the integration of GenDx over a full year.

Nevertheless, Eurobio underlines the "good resistance" of its results, highlighting the generation of a free cash flow of 26.4 million euros over the full year.

At the end of December 2023, the company had a cash position of 89 million euros, for a financial debt of 94.5 million euros.

Eurobio Scientific now intends to pursue the deployment of its strategic priorities, namely the development of proprietary products and internationalization through the opening of new markets.

The idea is to achieve both sales growth and margin expansion.

Listed on the Paris Bourse, the share price fell by 3.5% on Thursday morning following this publication.

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