Guerbet: 2015 annual revenue

  Excellent level of activity in 2015

€449.4 million in revenue: +10.0% at constant exchange rates  

VILLEPINTE, France, Feb. 10, 2016 -- Guerbet (FR0000032526 GBT), a global specialist in contrast agents and medical imaging solutions, is reporting €460.8 million in revenue for financial year 2015, representing a 12.7% increase on a like-for-like basis. At constant exchange rates, revenue grew by 10.0% to €449.4 million.

Consolidated Group revenue excluding integration of CMDS (IFRS)

Very good activity in the fourth quarter: €117.1 million
In the 4^th quarter 2015, the 10.0% growth was virtually identical in Europe and in the rest of the world. This increase was mainly related to the performance of Dotarem^® and Lipiodol^®, gaining 9.6% at constant exchange rates.

Strong sales growth in 2015: +12.7%
Nearly all countries contributed to the Group's growth 
The increase in revenue in Europe can be seen in nearly all countries. At constant exchange rates, its revenue for the European region grew by 9.0%.
The markets outside Europe experienced strong growth at +18.9% (+14.5% at constant exchange rates) mainly under the effect of the Group's good level of sales in the US, South Korea, and with Latin American and Asian distributors.

Strong performance of the four business segments
Like in financial year 2014, the four business segments saw growth again in 2015.

Driven by Dotarem, the MRI segment grew the most in absolute value with a 21.7% increase. With €204.8 million in revenue, this segment now represents the majority of the Group's product mix, accounting for 44.4% of sales.

The X-ray segment increased by 1.9% to €191.4 million. Sales benefited from a favourable volume effect from Xenetix^®.

With steady sales for Lipiodol and Patent Blue V, the IRT segment continued to rise considerably at a rate of more than 40% over the financial year.

The Imaging Solutions and Services (ISS) segment saw 3.8% growth, with sales amounting to €17.9 million.

Integration of the "CMDS" activity starting from 1 December 2015
The final acquisition of Mallinckrodt's "contrast media and delivery systems" (CMDS) activity was concluded on 27 November 2015. Starting from 1 December 2015, the Group now incorporates this activity, giving priority to curbing the decline in sales of more than 15% for the last two years. For December, "CMDS" revenue amounted to €27.9 million.

2016, a year of transition for the Group
2016 will be marked by the integration of the "CMDS" activity.
In order to ensure a successful integration as soon as possible, the Group has chosen to modify its sales structures and reposition its product offering. Beyond the commercial challenge, activity in 2016 will be marked by the Group's efforts necessary to quickly integrate the "CMDS" employees, harmonize the company cultures, align the information systems and redefine the industrial and operational strategies in order to deliver the expected synergies.

Upcoming events:

• Publication of 2015 annual results on 14 April 2016 before trading

About Guerbet

With nearly 90 years' experience, Guerbet is a pioneer in the contrast agent field and the global specialist of the medical imaging market. It offers a comprehensive range of X-Ray, Magnetic Resonance Imaging (MRI) and Interventional Radiology and Theranostics (IRT) products, along with a range of injectors and related medical devices to improve the diagnosis and treatment of patients. The acquisition of Mallinckrod's "contrast media and delivery systems" (CMDS) activity has doubled its size with an expanded offering. In 2014, the combined pro forma sales of Guerbet and the CMDS activity represented approximately €800 million, with around 2,500 employees. Guerbet (GBT) is listed on NYSE Euronext Paris (Segment B - Mid Caps).

For more information about Guerbet, please visit www.guerbet.com     

Contacts

Press release http://hugin.info/159769/R/1985322/728063.pdf

HUG#1985322