Guerbet Revenue at 30 September 2014 : EU302.5 million +6.1% at constant exchange rates

Revenue at 30 September 2014 : €302.5 million
+6.1% at constant exchange rates
> Third-quarter sales : €99.9 million, +3.4% at constant exchange rates
> Annual targets confirmed

VILLEPINTE, France, Oct. 23, 2014 (GLOBE NEWSWIRE) -- Guerbet (FR0000032526 GBT), a specialised global provider of contrast agents for medical imaging, reported €99.9 million in 2014 third-quarter sales, up 3.4% at constant exchange rates, benefiting in particular from the pricing strategy for the X-Ray and MRI segments. Excluding currency effects, revenue for the nine-month period ended 30 September reached €306,0 million, up 6.1%.

Consolidated revenue (IFRS) at 30 September

Good growth momentum in Europe

In Europe that accounts for more than 70% of Group sales, third-quarter revenue came to €70.9 million, up 5.2%. At 30 September, sales in Europe totalled €214.9 million, up 5,0% from one year earlier, and on track with the Group's roadmap.

For Other Markets, the pace of growth for nine-month sales was overall comparable to Europe (+4.6%, +8.1% at constant exchange rates). In the third quarter, sales grew 1.1% (-0.5% excluding currency effects). Sales for the X-Ray segment in Latin America were impacted by temporary disruptions on the Rio filling line (Brazil), though production output has since returned to normal.

Positive effects of the pricing strategy for the X-Ray and MRI segments and growth platforms

Sales for the MRI segment came to €42 million for the third quarter, up 5.6%, despite the inventory build-up effect in Germany. The X-Ray segment totalled €44 million for the third quarter, contracting 3.1% in relation to the same quarter in 2013 : Europe's good performance did not offset the impact noted in Latin America. Overall, the third quarter was bolstered by a positive price effect in the X-Ray segment for Xenetix and the MRI segment for Dotarem, a segment in which, as expected, the first marketing authorizations for generics in Europe have been filed.

The new growth platforms (Interventional Radiology, Medical Devices, US and China) registered gains of 30% at 30 September, confirming the good momentum that began in the first half.

Guerbet confirms its annual targets : €412 million (± 2%) at constant exchange rates in revenue for 2014 and an operating margin of 9%-10% (current operating income / reported sales).

Upcoming events :

• Publication of 2014 annual sales : 10 February 2015 after the close of trading

About Guerbet

A pioneer in the field of contrast agents with more than 80 years of experience, Guerbet is the only pharmaceutical group fully dedicated to medical imaging worldwide. As such, it has a complete offering of contrast products for X-Ray (XR), Magnetic Resonance Imaging (MRI) and Interventional Radiology and Theranostics (IRT), along with a range of injectors and related medical equipment to provide improved diagnosis and treatment of patients. To promote the discovery of new products and assure future growth, Guerbet devotes significant resources to research and development every year (approximately 10% of sales). Guerbet (GBT) is listed on NYSE Euronext Paris (Segment B - Mid Caps) and had sales of €390 million in 2013 with a total workforce of 1,485 employees including 1,000 in France.        For additional information about Guerbet, please consult the website: www.guerbet.com.       

Contacts

Press release http://hugin.info/159769/R/1865272/654899.pdf

HUG#1865272