GUERBET (EPA:GBT) Results buoyed by growth in volume in a competitive environment

Transparency directive : regulatory news

02/03/2010 08:42

Villepinte, 02 March 2010

                              PRESS RELEASE

Results buoyed by growth in volume in a competitive environment

Consolidated data IFRS
(EUR millions)                   2009      2008      Change
Net sales                       335.5     320.8      + 4.6%
R&D expenditures                 32.7      29.0     + 12.8%
Current operating income         28.3      39.9     - 29.2%
Current operating margin          8.4%     12.4%
Net income                       20.5      24.4     - 16.0%
Net margin                        6.1%      7.6%
Net debt                         78.9      78.4       +0.7%

Note: Percentages calculated on the basis of exact figures in thousands of
euros

Revenue on track

Revenue grew 4.6%, boosted by robust gains in the fourth quarter (+7.2%). Sales
grew 2.9% in Europe and 10.8% in Other Markets

The increase in Guerbet's consolidated revenue in 2009 was accompanied by
further market share gains, the addition of new accounts and expanded
geographical coverage for Group products in a highly competitive environment.

Dotarem, Guerbet's flagship product in magnetic resonance imaging (MRI)
delivered another good performance in all markets where it is sold on overall
growth of 9.5% (+17.2% in volume).

In the x-ray imaging segment, Xenetix sales were driven by gains in Other
Markets (Brazil, China and other Asian countries) that were particularly buoyant
in the second half. For all regions combined, annual sales for Xenetix grew 4.9%
(+21.6% in volume).

Results

With production costs impacted by price increases for certain raw materials,
cost prices did not improve in the second half as expected.

The combined effects of these developments contributed to a decline in the
current operating margin to 8.4% compared with 12.4% in the previous year.

Capital expenditures of the Group totalled EUR32.8 million in the period
compared to EUR29.4 million in 2008.

A strategy based on positive growth trends

We will pursue our Cap 2016 strategic plan based on three growth drivers:
innovation, increasing market share and improving competitiveness.

Guerbet is solidly positioned at the crossroads of major public health
priorities: screening, diagnosis and monitoring the treatment of patients. Its
product range is an indispensable component in the arsenal for medical care and
providing increasingly customized responses for patients whose life expectancy
continues to be prolonged.

The Executive Board will ask the General Meeting of 21 May 2010 to approve a
dividend of EUR2.25 per share, identical to the prior year.

About the Group

Guerbet (www.Guerbet.com) is the only pharmaceutical group fully dedicated to
medical imaging. It has the most comprehensive range of x-ray and MRI contrast
media available worldwide. These products assist medical professionals
(radiologists, cardiologists, oncologists, etc.) in better diagnosing and
treating their patients (cardiovascular, cancer, inflammatory and degenerative
diseases).

To develop new products and assure its future growth, every year Guerbet devotes
significant resources to research and development with 180 R&D employees and an
amount equivalent to approximately 10% of sales.

Guerbet is solidly positioned in Europe with a market share of 25% and is
expanding its presence in the United States and Japan.

Guerbet, listed on Eurolist Euronext Paris in compartment B had sales in 2009 of
EUR335.5 million with a total workforce of 1300 employees.

For additional information please consult: www.guerbet.com

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GUERBET (EPA:GBT) Results buoyed by growth in volume in a competitive environment

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