Guerbet

2021 half-year results

2021 half-year results

• Strong sales pickup across all activities

> H1 sales: €363.1 million (+9.6%¹) with a sharp increase in Q2

• Solid financial structure

> H1 EBITDA margin²: 17.1% at €62.3 million (versus 14.7% in H1 2020 at €53.3 million)

> Strong net income growth at €23.4 million (6.4% of revenue) versus €8.2 million (2.3% of revenue) in H1 2020.

> Net debt decrease at €249.3 million

• 2021 objectives: Confirmation of guidance

> 2021 EBITDA margin of at least 14.1% of annual revenue

• Acquisition of pharmaceutical license for direct distribution in China in 2022 of all pharmaceutical products registered in the territory
  
  
  

Villepinte, September 22, 2021 – Guerbet (FR0000032526), a global specialist in contrast agents and solutions for medical imaging, is announcing its consolidated results for the first half of 2021.

Excluding forex effects and on a like-for-like basis³, H1 sales increased by 9.6% from June 30, 2020. It benefited from the return to growth across all Group products with Q2 sales up 25.1% excluding forex effects and on a like-for-like basis. This quarterly performance is very close to the Group's activity levels prior to the health crisis.

Reported H1 revenue amounts to €363.1 million, stable compared with June 30, 2020 (€363.7 million) and including an unfavorable forex effect of €17.2 million.

Robust growth momentum across all geographic regions and product segment

• Growth is back in most EMEA countries with significant volume effects along with a slight drop in prices.
• In the Americas, like-for-like sales (excluding the contribution of the Montreal plant in Canada sold on July 16, 2020) were up 3.7%. On a like-for-like basis and excluding the €11.0 million unfavorable forex effect, mainly attributable to the Brazilian real and the US dollar, sales were up 14.3% over the first half of the year.
• In Asia, sales were up 3.5% at constant exchange rates with very strong momentum in Japan and China.

H1 sales in Diagnostic Imaging were up 8.2% at constant exchange rates.