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    ALERS   FR0013240934

EUROBIO SCIENTIFIC

(ALERS)
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Eurobio Scientific : First half turnover reaches €95.7 million, a 54% increase

07/26/2021 | 11:58am EDT

PRESSRELEASE

FIRST HALF TURNOVER REACHES € 95.7 MILLION, A 54% INCREASE

  • Strong growth in traditional activities excluding COVID : + 31% at € 40.9 million
  • Extension of the installed instrument park
  • Continuation of the proprietary products development strategy

Paris, July 26, 2021 - 5:45 pm

Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible), a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated half-year turnover as at June 30, 2021.

New semester of strong growth

Eurobio Scientific recorded a turnover of € 95.7 million in the first half of 2021, up 54% compared to the first half of 2020. This performance reflects:

  • Continued sales linked to the diagnosis of COVID (€ 54.8 million, or 57% of turnover);
  • Strong growth in traditional activities, excluding COVID (€ 40.9 million, or 43% of turnover).

in M€

H1 2021

H1 2020

var.

COVID

54,8

31,0

+77%

Excluding COVID

40,9

31,1

+31%

Total

95,7

62,2

+54%

not audited

Maintaining a high market share in COVID diagnostics

During the first half of the year, the Group continued to enrich its COVID diagnostic offering with PCR, antigen and self-tests. In line with its strategy focused on increasing its share of proprietary products, almost all of these new tests were developed in-house (EBX and EBS ranges). For example, Eurobio Scientific launched at the end of May the first test (EBX-046) able to simultaneously detect the virus and characterize mutations of interest ("variants").

Compared to the second half of 2020, COVID revenue is down (€ 54.8m vs € 86m) under the cross effect of an anticipated drop in selling prices and a market switch in favor of pharmacy networks, in which the Group has limited marketing presence.

Thanks to its range of reagents and its penetration of large private and hospital laboratories, Eurobio Scientific remains one of the main French players in the diagnosis of COVID and has continued to increase its park of installed instruments. The majority of these instruments are "universal" and accommodate both COVID tests and other infectious diseases tests, in particular the Group's proprietary EBX range.

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Strong growth in revenues excluding COVID at + 31% (+ 23% organically)

The increased visibility of Eurobio Scientific, in France and internationally, the extension of its customer portfolio and its park of instruments, and the activation of synergies with its foreign affiliates (TECOmedical and Pathway Diagnostic) have fostered strong growth in non-COVID sales. These amounted to € 40.9 million during the first semester, up 31%. On a like-for-like basis (excluding TECOmedical sales), growth remains strong, at + 23%.

The strong momentum initiated in the context of the health crisis, combined with the recurrence of sales inherent in Eurobio Scientific's business model, enabled the Group to accelerate the development of its traditional activities. At the same time, the synergies implemented with the recently acquired international subsidiaries continued, and their sales represented € 7.5 million over the half-year. In particular, the COVID crisis made it possible to quickly set up infectious disease activities in subsidiaries where they were not previously present.

Significant financial resources to deploy the strategy

With gross cash currently exceeding € 80 million, Eurobio Scientific has very significant financial resources to continue to deploy its strategy, which is mainly focused on increasing the share of proprietary products. This involves financing internal developments or targeted acquisitions.

At the same time, the Group continues to selectively develop its distribution portfolio. Eurobio Scientific has thus renewed its non-exclusive partnership with the Korean company Seegene this semester, at least until 2023, and signed distribution partnerships in new areas, for example with the Alcor and BenQ laboratories.

On the basis of the new dimension acquired in 2020, Eurobio Scientific has all the assets to continue to meet the needs of laboratories, in France and in the rest of Europe, through the deployment of an extensive offer mixing proprietary and distribution products.

Next financial meeting

Half-year results 2021: October 12, 2021, after market close

Disclaimer

This press release contains elements that are not historical facts including, without limitation, certain statements about future expectations and other forward-looking statements. Such statements are based on management's current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, profitability or events to differ materially from those anticipated. In addition, Eurobio Scientific, its shareholders, and its affiliates, directors, officers, advisors and employees have not verified the accuracy of, and make no representations or warranties in relation to, statistical data or predictions contained in this press release that were taken or derived from third party sources or industry publications. Such statistical data and predictions are used in this press release for information purposes only. Finally, this press release may be drafted in the French and English languages. If both versions are interpreted differently, the French language version shall prevail.

About Eurobio Scientific

Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 148 employees and three production units based in the Paris region, in Germany and in the United States, and several affiliates based in Dorking UK, Sissach Switzerland, Bünde Germany and Utrecht in The Netherlands.

For more information, please visit : www.eurobio-scientific.com

The company is publicly listed on the Euronext Growth market in Paris

Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label. Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA - Bloomberg: ALERS:FP

Contacts

Group Eurobio Scientific

Calyptus

Denis Fortier, General Manager

Mathieu Calleux / Gregory Bosson

Hervé Duchesne de Lamotte, General Manager

Investors relations

Tel. +33(0) 1 69 79 64 80

Tel. +33(1) 53 65 68 68 eurobio-scientific@calyptus.net

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Disclaimer

Eurobio Scientific SA published this content on 26 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 July 2021 15:57:05 UTC.


© Publicnow 2021
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Financials
Sales 2021 156 M 183 M 183 M
Net income 2021 - - -
Net cash 2021 91,8 M 108 M 108 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 200 M 235 M 235 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,63x
Nbr of Employees 161
Free-Float 69,2%
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Number of Analysts 1
Last Close Price 17,86 €
Average target price 37,00 €
Spread / Average Target 107%
Managers and Directors
Jean-Michel Carle Chairman-Management Board
Hervé Duchesne de Lamotte Chief Financial Officer
Jean-Pierre Hermet Chairman-Supervisory Board
Michel Picot Member-Supervisory Board
Patrick de Roquemaurel Member-Supervisory Board
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