Guerbet

Revenue 2020 - Seite 2

Over the financial year, on a like-for-like basis and excluding an adverse forex impact of €18.4 million attributable to the weakened Brazilian real and US dollar, the decline in activity in the Americas was 12.0% at constant exchange rates for revenues of €225.4 million.

In Asia, total revenue at constant exchange rates for the financial year increased +2.2% to €168.8 million (+1.0% at current exchange rates). After a good performance in the first nine months of the year, activity was down in the fourth quarter due to a base effect in China and COVID-19 crisis in Korea.

Analysis by activity:

Diagnostic Imaging revenue totaled €637.2 million, compared with €719.4 million at December 31, 2019, down 11.4% at constant exchange rates (-14.5% at €615.2 million at current exchange rates).

• MRI sales decreased 15.3% at constant exchange rates (-17.2% at current exchange rates) at €232.8 million. This decline was due to a negative volume effect directly related to the health crisis and, to a lesser extent, an adverse price effect in Europe related to the generic form of Dotarem.
• X-ray revenue at constant exchange rates totaled €402 million, down 8.8% (-12.6% at current exchange rates), with Xenetix showing good resistance throughout the year.

Interventional Imaging was down slightly at -1.5% at constant exchange rates (-2.7% at current exchange rates), still driven by Lipiodol with sales up nearly 1% at constant exchange rates. The segment's revenue totaled €74.4 million, compared with €75.5 million in 2019.

Outlook

Guerbet is maintaining the objectives reported with its half-year results. The Group's projected EBITDA margin for the 2020 financial year is around 14% of revenue, thanks in particular to the strict management of structural costs, which should have a positive impact on profitability once activity returns to normal.

For 2021, the course of the health situation remains uncertain. Over the coming months, the Group still anticipates the arrival of the generic form of Dotarem in the United States. The Group expects the impact to be moderate with changes in Dotarem prices comparable with Europe, where the generic form as already been available for more than two years.

Upcoming events:

Publication of 2020 annual results
March 24, 2021, after trading

About Guerbet

Guerbet is a leader in medical imaging worldwide, offering a comprehensive range of pharmaceutical products, medical devices, and digital and AI solutions for diagnostic and interventional imaging to improve patient diagnosis and treatment. A pioneer in contrast media for more than 90 years, with more than 2,600 employees worldwide, Guerbet continuously innovates and devotes 9% of its sales to research and development in four centers in France, Israel, and the United States. Guerbet (GBT) is listed on Euronext Paris (segment B – mid caps) and generated €712 million in revenue in 2020. For more information about Guerbet, please visit (www.guerbet.com).