Eurobio Scientific: FIRST HALF TURNOVER REACHES € 95.7 MILLION, A 54% INCREASE
FIRST HALF TURNOVER REACHES € 95.7 MILLION, A 54% INCREASE
Strong growth in traditional activities excluding COVID : + 31% at € 40.9 million
Extension of the installed instrument park
Continuation of the proprietary products development strategy
Paris, July 26, 2021 – 5:45 pm
Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible), a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated half-year turnover as at June 30, 2021.
New semester of strong growth
Eurobio Scientific recorded a turnover of € 95.7 million in the first half of 2021, up 54% compared to the first half of 2020. This performance reflects:
- Continued sales linked to the diagnosis of COVID (€ 54.8 million, or 57% of turnover);
- Strong growth in traditional activities, excluding COVID (€ 40.9 million, or 43% of turnover).
in M€ | H1 2021 | H1 2020 | var. | |
COVID | 54,8 | 31,0 | +77% | |
Excluding COVID | 40,9 | 31,1 | +31% | |
Total | 95,7 | 62,2 | +54% | |
not audited |
Maintaining a high market share in COVID diagnostics
During the first half of the year, the Group continued to enrich its COVID diagnostic offering with PCR, antigen and self-tests. In line with its strategy focused on increasing its share of proprietary products, almost all of these new tests were developed in-house (EBX and EBS ranges). For example, Eurobio Scientific launched at the end of May the first test (EBX-046) able to simultaneously detect the virus and characterize mutations of interest ("variants").
Compared to the second half of 2020, COVID revenue is down (€ 54.8m vs € 86m) under the cross effect of an anticipated drop in selling prices and a market switch in favor of pharmacy networks, in which the Group has limited marketing presence.
Thanks to its range of reagents and its penetration of large private and hospital laboratories, Eurobio Scientific remains one of the main French players in the diagnosis of COVID and has continued to increase its park of installed instruments. The majority of these instruments are “universal” and accommodate both COVID tests and other infectious diseases tests, in particular the Group's proprietary EBX range.
Strong growth in revenues excluding COVID at + 31% (+ 23% organically)
The increased visibility of Eurobio Scientific, in France and internationally, the extension of its customer portfolio and its park of instruments, and the activation of synergies with its foreign affiliates (TECOmedical and Pathway Diagnostic) have fostered strong growth in non-COVID sales. These amounted to € 40.9 million during the first semester, up 31%. On a like-for-like basis (excluding TECOmedical sales), growth remains strong, at + 23%.
The strong momentum initiated in the context of the health crisis, combined with the recurrence of sales inherent in Eurobio Scientific's business model, enabled the Group to accelerate the development of its traditional activities. At the same time, the synergies implemented with the recently acquired international subsidiaries continued, and their sales represented € 7.5 million over the half-year. In particular, the COVID crisis made it possible to quickly set up infectious disease activities in subsidiaries where they were not previously present.
Significant financial resources to deploy the strategy
With gross cash currently exceeding € 80 million, Eurobio Scientific has very significant financial resources to continue to deploy its strategy, which is mainly focused on increasing the share of proprietary products. This involves financing internal developments or targeted acquisitions.
At the same time, the Group continues to selectively develop its distribution portfolio. Eurobio Scientific has thus renewed its non-exclusive partnership with the Korean company Seegene this semester, at least until 2023, and signed distribution partnerships in new areas, for example with the Alcor and BenQ laboratories.
On the basis of the new dimension acquired in 2020, Eurobio Scientific has all the assets to continue to meet the needs of laboratories, in France and in the rest of Europe, through the deployment of an extensive offer mixing proprietary and distribution products.
Next financial meeting
Half-year results 2021: October 12, 2021, after market close
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Contacts |
Group Eurobio Scientific | Calyptus |
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