Revenue on September 30, 2022
Faster growth in Q3 2022
- Revenue: +5.1% at CER1 (€187 million)
- Very dynamic activity in
Asia (+18.4%) and within MRI (+17.3%) - Cumulative revenue at 9 months: +0.8% at CER (€569.2 million)
Update of 2022 financial targets
- Impact of prioritizing EluciremTM production at the
Raleigh plant - Like-for-like revenue growth below 2% at CER,
- 2022 EBITDA margin between 13% and 14% (excluding extraordinary costs to optimize the operating structure and change the sales model in
China )
After a slight increase in Q1 (+0.5%), followed by a decrease in Q2 (-3.1%) due to a high basis of comparison, Q3 activity was very dynamic. Revenue reached €187 million, up +5.1% at CER and +11.4% at current exchange rate.
Geographical distribution of consolidated group revenue (IFRS)
In millions of euros, at | Change (%) | 9 months 2022 at current exchange rates | Change (%) | 9 months 2022 at constant exchange rates1 | 9 months 2021 |
Sales in EMEA | -1.8% | 245.2 | -1.3% | 246.5 | 249.7 |
Sales in | +9.7% | 182.5 | -2.1% | 162.9 | 166.4 |
Sales in | +13.3% | 141.4 | +8.8% | 135.9 | 124.9 |
Total | +5.2% | 569.2 | +0.8% | 545.3 | 541.0 |
[1] Constant exchange rates: the exchange rate impact was eliminated by recalculating sales for the period on the basis of the exchange rates used for the previous fiscal year.
In the EMEA region, the Group’s activity decreased slightly in the first 9 months (-1.3% at CER). Its Q3 activity (+1.5% at CER) benefited from both an increase in volumes and more stable prices after several quarters of erosion.
In the
In
Distribution of consolidated group revenue by activity (IFRS)
In millions of euros, at | Change (%) | 9 months 22 at current exchange rates | Change (%) | 9 months 22 at constant exchange rates1 | 9 months 2022 |
Diagnostic Imaging | +4.9% | 502.2 | +0.5% | 481.5 | 478.9 |
MRI | +9.6% | 192.4 | +5.3% | 184.8 | 175.5 |
X-Ray | +2.1% | 309.8 | -2.2% | 296.7 | 303.4 |
Interventional Imaging | +7.9% | 67.0 | +2.8% | 63.9 | 62.1 |
Total | +5.2% | 569.2 | +0.8% | 545.3 | 541.0 |
[1] Constant exchange rates: the exchange rate impact was eliminated by recalculating sales for the period on the basis of the exchange rates used for the previous fiscal year.
Revenue from Diagnostic Imaging increased by 0.5% at CER over the first 9 months, with a Q3 up 4.3% compared with the same period in 2021.
- In MRI, sales over the first 9 months increased by 9.6% at current exchange rates and 5.3% at CER. The acceleration was noticeable in Q3, with an increase of 17.3% at CER and both volumes and prices on the rise.
- X-Ray revenue at CER decreased by 2.2% at 9 months and 3.1% in Q3 in the wake of the decrease in Optiray® sales, while Xenetix® sales remained very steady.
In Interventional Imaging, sales at CER increased by 2.8% over the first 9 months thanks to an excellent Q3 marked by 12% growth at CER and remarkable performance for Lipiodol (+15.3%).
Adjustment of the 2022 financial targets incorporating necessary measures to accelerate EluciremTM production
On the one hand, since the beginning of the summer, the Group has seen a significant improvement in production rates at its
On the other hand,
Against this backdrop, the Group expects 2022 revenue growth to be less than 2% on a like-for-like basis and at constant exchange rates compared with a previously announced range of 2% to 4%. In terms of profitability,
Upcoming events:
Publication of 2022 full-year revenue
1 Constant exchange rates: the exchange rate impact was eliminated by recalculating sales for the period on the basis of the exchange rates used for the previous fiscal year.
About
At
Forward-looking statements
Certain information contained in this press release does not reflect historical data but constitutes forward-looking statements. These forward-looking statements are based on estimates, forecasts, and assumptions, including but not limited to assumptions about the current and future strategy of the Group and the economic environment in which the Group operates. They involve known and unknown risks, uncertainties, and other factors that may result in a significant difference between the Group’s actual performance and results and those presented explicitly or implicitly by these forward-looking statements.
These forward-looking statements are valid only as of the date of this press release, and the Group expressly disclaims any obligation or commitment to publish an update or revision of the forward-looking statements contained in this press release to reflect changes in their underlying assumptions, events, conditions, or circumstances. The forward-looking statements contained in this press release are for illustrative purposes only. Forward-looking statements and information are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and are generally beyond the Group’s control.
These risks and uncertainties include but are not limited to the uncertainties inherent in research and development, future clinical data and analyses (including after a marketing authorisation is granted), decisions by regulatory authorities (such as the
Contacts:
Guerbet
Jérôme Estampes, Chief Financial Officer +33.1.45.91.50.00 / jerome.estampes@guerbet.com
Claire Lauvernier, Communications Director +33.6.79.52.11.88 / claire.lauvernier@guerbet.com
Actifin
Jennifer Jullia, Press +33.1.56.88.11.19 / jjullia@actifin.fr
Attachment
- Guerbet CP T3 2022
VA
Source:
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