GUERBET (EPA:GBT) 2010 First Half Financial Results

Transparency directive : regulatory news

29/07/2010 08:30

Villepinte, 29 July 2010

                                  PRESS RELEASE

                            Sustained revenue growth

Consolidated data (EURm)           2010 H1   2009 H2   Change
IFRS

Net sales                           178.9     162.5     +10%
R&D expenses                         18.2      17.1      +6%
Current operating income             12.1      14.1     -14%
Current operating margin              6.8%      8.6%
Net income                            8.6       8.1      +5%
Net margin                            5.0%      4.8%
Net debt at 30 June                  89.0      81.0     +10%

NB.: Percentages are calculated on the basis of exact figures in thousands of
euros

Strong sales growth boosted by positive currency effects

Group momentum has accelerated on particularly robust growth in markets outside
Europe (+40%), boosted by better-than-expected currency effects combined with
steady gains in Europe (+5% excluding the discontinuation of the Falk
business).

Dotarem sales grew 13.1% worldwide while further reinforcing its leadership
position in Europe.

Xenetix is back on track as sales advanced 12% on renewed growth worldwide.

The gross margin increased though did not fully offset increases in selling
expenses outside the euro area and R&D expenditures for the US Dotarem
programme.

Full-year results and outlook

The outlook for sales growth remains more favourable than in 2009. And as the
new chemical facilities at the Marans and Lanester sites progressively come on
line, our production capacity will increase to keep pace with the growth of our
business.

The costs of raw materials in foreign currencies are rising while certain
production cost gains will start to be generated from manufacturing process
improvements and growth in volumes.

Investments for the Aulnay site (a new pharmaceutical filling unit) are being
implemented according to the road map and represent the last major milestone of
the Cap 2016 strategic plan.

The clinical trial programme for Dotarem's filing in the US market is also
proceeding according to plan.

Upcoming events: 9 November 2010 - Publication of 2010 third-quarter sales

About Guerbet

Guerbet (www.guerbet.com) is the only pharmaceutical group fully dedicated to
medical imaging. It has the most comprehensive range of contrast products for
X-ray, MRI and Nuclear Medicine Imaging in the world. These products assist
medical professionals (radiologists, oncologists, cardiologists, etc.) in better
diagnosing and treating the pathologies of their patients (cardiovascular,
cancer, inflammatory and degenerative diseases).

To develop new products and assure future growth, Guerbet devotes every year
significant resources to research and development with 210 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 1,300 employees.

For further information: www.guerbet.com

GUERBET's latest news

20/03/2024 18:00

GUERBET (EPA:GBT) 2010 First Half Financial Results

Transparency directive : regulatory news

GUERBET's latest news

Other stories