Guerbet

2021 half-year results - Seite 2

• H1 revenue in MRI amounted to €118.4 million (+6.8%, or +11.7% at constant exchange rates). It benefited from the excellent sales of Dotarem with a sharp increase in volumes sold during Q2 2021 (+39.0% compared with Q2 2020).
• X-ray revenue at constant exchange rates increased by 6.2%, supported especially by the good performance of Optiray during Q2 2021.

The good sales figures in Interventional Imaging continued to be driven by Lipiodol, which benefits from an increasingly important influence because of its properties and its reinforced geographical establishment.

Excellent half-year results

In millions of euros Consolidated financial statements (IFRS)	H1 2019 Reported	H1 2020 Reported	H1 2021 Reported
Revenue	400.6	363.7	363.1
EBITDA (3)	61.6	53.3	62.3
% of revenue	15.4%	14.7%	17.1%
Operating income	22.3	25.4	34.8
% of revenue	5.6%	7.0%	9.6%
Net income	19.0	8.2	23.4
% of revenue	4.8%	2.3%	6.4%
Net debt	358.1	269.3	249.3

The 2021 half-year financial statements, approved by the Board of Directors on September 22, 2021, underwent a limited review by the statutory auditors. The statutory auditors' report is being prepared.

EBITDA margin: 17.1% of H1 revenue

During the first half, the Group maintained the budgetary discipline implemented at the height of the COVID crisis, allowing to maintain the savings generated over the 2020 fiscal year. Efforts related to production and fixed costs optimization. SG&A costs during H1 2021 were in line with H1 2020, but down €15 million compared with H1 2019. This budgetary discipline has allowed the Group's EBITDA to be at €62.3 million versus €53.3 million at June 30, 2020. The EBITDA/Sales ratio was 17.1%, compared with 14.7% in 2020 and 15.4% in 2019.