Revenue at September 30, 2020
Activity at constant exchange rates in line with the end-2020 objectives
- -9.1% at constant exchange rates (CER)* at €548.3 million
- -11.2% at current exchange rates at €536.0 million
Gradual upturn in activity in the third quarter, particularly in
Villepinte,
At
In millions of euros, at | Change (%) | 2020 at current exchange rates | Change (%) | 2020 at constant exchange rates* | Reported 2019 |
Sales in | -16.6% | 212.7 | -16.4% | 213.2 | 255.0 |
Sales in Other Markets | -7.2% | 323.3 | -3.8% | 335.1 | 348.5 |
Total | -11.2% | 536.0 | -9.1% | 548.3 | 603.5 |
After a second quarter down 17.8% from 2019, revenue at constant exchange rates for the third quarter totaled €181.3 million, down 10.7%, reflecting an upturn in activity. The negative forex impact over the quarter was €8.9 million.
In millions of euros, | Change (%) | Q3 2020 at current exchange rates | Change (%) | Q3 2020 at constant exchange rates* | Reported Q3 2019 |
Sales in | -6.5% | 73.8 | -5.7% | 74.5 | 79.0 |
Sales in Other Markets | -20.5% | 98.6 | -13.8% | 106.8 | 123.9 |
Total | -15.1% | 172.4 | -10.7% | 181.3 | 202.9 |
Gradual upturn in activity during third quarter in line with expectation
As previously reported, the postponement of non-essential radiological examinations and procedures by radiologists, combined with spontaneous cancellations by some patients and reduced performance in services due to the increase in longer disinfection and protection measures due to COVID-19, continue to affect MRI activity and, to a lesser extent,
In
In
In the
At
An analysis of the activity over the first nine months of the financial year shows:
Diagnostic Imaging revenue totaled €462.5 million, compared with €533.5 million at
- MRI sales decreased 18.3% (-17.2% at CER) to €168.3 million. During third quarter activity started to pick up, the decrease being only 14.4% at CER versus prior year.
CT/Cath Lab revenue was down 10.6% at €290.5 million, with volumes down across all products in the range except Xenetix®. Revenue at CER was €300.4 million (-7.6%) at the end ofSeptember 2020 .
Interventional Imaging continued to be driven by Lipiodol® sales. Its nine-month revenue totaled €53.6 million, stable at +0.6% (+0.9% at CER) compared with €53.3 million in the same period in 2019.
2020 outlook
The future of the health situation remains uncertain, and the gradual upturn in activity is still inconsistent. Despite these conditions,
In the coming months, the Group’s activity is expected to be affected by the initial sales of the generic of Dotarem® in
Given the impact of the generic and against the backdrop of a stabilized health crisis with normal operation of the healthcare system, the Group expects second-half revenue to be largely comparable with the first-half revenue, down 12% compared with 2019 at constant exchange rates. On this basis, the Group expects EBITDA for the 2020 financial year to be around 14% of revenue.
Lastly, the Group is confident that it can lower its level of structural costs for the long term with expectations of a very favorable impact on profitability once business is back to normal.
(*) At constant exchange rates: amounts and rates of growth are calculated by canceling out the exchange rate effect, which is defined as the difference between the indicator’s value for period N, converted at the exchange rate for period N-1, and the indicator’s value for period N-1.
Upcoming events:
Publication of 2020 annual revenue
About
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 authorization is granted), decisions by regulatory authorities (such as the
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Contacts
Actifin |
Jérôme Estampes Chief Financial Officer +33 (0)1 45 91 50 00 | +33 (0)1 56 88 11 25 blehari@actifin.fr Press Jennifer Jullia +33 (0)1 56 88 11 19 jjullia@actifin.fr |
Attachment
- 20201022 - Revenue at
september 30 2020
Source:
2020 GlobeNewswire, Inc., source