1st quarter 2019 revenue

18.04.2019 17:45

1st quarter 2019 revenue

Year off to a good start:

• €197.3 million; +7.7% at current exchange rates
• €195.4 million; +6.7% at constant exchange rates

Villepinte, 18 April 2019 - Guerbet
(FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting revenue for the 1st quarter 2019. At March 31, reported sales were €197.3 million, up 7.7%, including a favorable forex impact of €1.9 million. At constant exchange rates, sales were €195.4 million, up 6.7%.

Consolidated Group revenue (IFRS)

In Europe, Guerbet delivered double-digit revenue growth of 11.6% at constant exchange rates, driven largely by strong sales in Germany and Turkey and favorable base effect. 

In the United States, sales continued their upward trajectory, as no Dotarem generic has been launched yet. Sales were stable in Asia, with satisfactory early revenue streams in Japan, but an unfavorable base effect compared with the 1st quarter 2018 for China and distributors. 

Revenue generated by the Diagnostic Imaging business increased by 6.2%, reaching €170.9 million at constant exchange rates (€171.9 million at current exchange rates). 

› A satisfactory 6.1% increase in MRI** sales, reaching €66.4 million at constant exchange rates, and like-for-like period and scope (€66.4 million at current exchange rates), fueled by Dotarem® which continues to deliver good performance, despite the generic. 

› Revenue in the CT/Cath Lab** segment was €101.7 million at constant exchange rates, up 6.7%. At current exchange rates, revenue was €102.6 million. Optiray® sales were improving, mainly due to a favorable base effect, while Xenetix® was slightly down.

› The digital segment is in launch mode and made only a marginal contribution to revenue.

In Interventional Imaging, revenue totaled €16.2 million at constant exchange rates, an 18.4% increase (€16.7 million at current exchange rate). There is good momentum in this segment, although new microcatheters (DraKon® and SeQure®) contribution to sales is still low. They have just obtained the CE Mark which will allow their distribution on the European market.

Targets unchanged

We expect sales to grow at a moderate pace in 2019. 

While the switch to direct distribution in Japan will benefit Dotarem, it will be negatively impacted by the introduction of the generic in new countries. 

Optiray sales should continue to grow, especially in Japan. 

As DraKon® and SeQure® microcatheter sales come on stream in the US and then in Europe, they will act as a growth driver for the Group’s Interventional Imaging business. 

*At constant exchange rates: amounts and rates of growth are calculated by canceling out the exchange rate effect, which is defined as the difference between the indicator’s value for period N, converted at the exchange rate for period N-1, and the indicator’s value for period N-1. 

** Reminder: the MRI and CT / Cath Lab segments now include sales of injection systems and related services.


Upcoming events:

Publication of revenue for 1st half of 2019

July 25, 2019, after trading