Salute e Benessere
Eurobio Scientific: FIRST HALF 2024, A SOLID START TO THE FINANCIAL YEAR IN AN UNCERTAIN ENVIRONMENT // PROPOSED TENDER OFFER
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FIRST HALF 2024,
A SOLID START TO THE FINANCIAL YEAR IN AN UNCERTAIN ENVIRONMENT
PROPOSED TENDER OFFER
Paris, July 31 , 2024 – 9:00 pm
Eurobio Scientific (FR0013240934, ALERS), a leading French group in in vitro specialty medical diagnostics and life sciences, today presents its consolidated first-half revenues for the period ended on June 30, 2024.
Solid revenues growth of +24%
At the end of June 2024, Eurobio Scientific recorded revenues of €73.4m, compared with €59.1m at the end of June 2023, i.e. an increase of +24%. On a like-for-like basis, i.e. excluding the effects of acquisitions, growth remains solid at +12%.
The perimeter effects for the first half are as follows: DID's revenues amounted to €6.1m, while Alpha Biotech's revenues amounted to €1.3m.
Excluding the effect of changes in the scope of consolidation, the €6.9m increase in revenues came mainly from GenDx, where sales amounted to €3.6m (+32%), and from France, where sales amounted to €3.1m (+8%). The rest of the Group's activities posted limited growth of around 2%.
GenDx grew in all territories (Europe, the United States and internationally), with a number of one-off international distribution contracts contributing to +€0.8m to this growth. Adjusted for this non-recurring effect, GenDx grew by around 25% over the first half.
The Group's French activities reported significant growth over the first half, also driven by a number of non-recurring factors, such as the Covid and Pertussis epidemics, and the extension for several months of certain calls for tender in Transplantation, which maintained business volumes in this segment. Excluding these effects, revenues were stable.
Update on the deployment of the Group's strategy
The Group is pursuing its strategy of targeted geographic and technological expansion, with the ambition of becoming a leading international company in the speciality diagnostics market, offering to its customers a complete range of molecular diagnostic solutions based on its own products and those of its partners.
The share of proprietary products is stable, despite the integration of DID's distribution activities, and reached around 29% of revenues (compared with 30% of revenues in the first half of 2023).
Revenues outside France grew to 42% of total revenues (compared with 35% in the first half of 2023). This increase is mainly due to new acquisitions, but also to the development of cross-sales of the Group's proprietary products.
Outlook
The Eurobio Scientific Group is continuing to implement the strategic directions it has been developing for several years: the development of proprietary products, the internationalization and the opening up of new markets. Over the next 5 years, the Group's ambition is for proprietary products to account for around 50% of its sales.
Proposed tender offer
Funds managed by NextStage AM and IK Partners, together with Mr. Denis Fortier, CEO, and other members of the Company's Board of Directors and senior management, have decided to form a consortium (the " Consortium ") to launch a voluntary tender offer for all outstanding Eurobio Scientific shares. A press release, published jointly by the Company and the Consortium, presenting this project and its main preliminary features is available on the Company's website eurobio-scientific.com.
Next financial meeting
H1 2024 results: date to be announced
Disclaimer:
This press release has been prepared for information purposes only. It does not constitute a public offering. The distribution of this press release may be subject to specific regulations or restrictions in certain countries. This press release is not intended for persons subject to such restrictions, either directly or indirectly. This press release is not for release, publication or distribution, directly or indirectly, in the United States of America or in any other jurisdiction in which such release, publication or distribution is unlawful or subject to any specific procedures or requirements. Accordingly, persons in possession of this press release are required to inform themselves about and to observe any local restrictions that may apply. Failure to comply with legal restrictions may constitute a violation of applicable securities laws and regulations in any of these countries. Eurobio Scientific S.A. and the members of the Consortium accept no liability for any breach by any person of such restrictions.
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