Eurobio Scientific

STRONG GROWTH OF 2019 ANNUAL RESULTS

STRONG GROWTH OF 2019 ANNUAL RESULTS

• +40% growth of EBITDA at 7 M€
• Positive net result at 3.2 M€ (vs -2.8 M€ in 2018)

Paris, April 14, 2020 – 8:00 am

Eurobio Scientific (FR0013240934, ALERS, eligible PEA-PME), a leading French group in the field of specialty in vitro medical diagnostics, presents today its 2019 consolidated annual results which were established according to French accounting standards and were approved by the company's board of directors which met on April 13, 2020¹.

Strong growth of overall results

in M€	2019 consolidated	2018 consolidated	Variation
IVD product sales	59.1	50.5	+17.0%
Other revenues	0.4	0.6
Total revenues	59.5	51.1	+16.4%
Cost of goods sold	(39.5)	(32.1)	+23.1%
Gross margin	20.0	19.0	+5.3%
R&D expenses	(1.6)	(1.4)	+14.3%
Marketing and sales expenses	(10.9)	(10.7)	+1.9%
G&A expenses	(4.0)	(5.3)	- 24.5%
Operating result	3.4	1.6	+112.5%
EBITDA	7.0	5.0	+40.0%
Financial result	0.1	(1.2)
Extraordinary result	(0.5)	(0.4)
Goodwill amortization	(2.8)	(2.8)
Taxes	3.0	0.0
Net result	3.2	(2.8)
Net result before amortization of goodwill and taxes	3.0	0.0
Cash	7.6	11.0
Financial debt excluding leasing	15.1	20.0
Shareholders equity	35.2	28.2

Eurobio Scientific presents annual results for 2019 which confirm the achievement of its growth and profitability targets almost a year ahead of schedule. 2019 sales reached € 59.1 million, i.e. almost the 25% target of overall sales growth expected between 2017 and 2020. On a comparable basis, excluding sales of Pathway and Personal Diagnostics (Great Britain), turnover increased by 15% over the year. This growth again largely outperforms the market, which remained stable in France in 2019.