Guerbet: 1st quarter 2015 revenue

 Strong growth in sales

+12.1% at constant exchange rates

Villepinte, 23 April 2015 - Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is publishing revenue of €112.2M for the 1st quarter of 2015, up by 16.2% compared with 31 March 2014. At constant exchange rates, its revenue grew by 12.1%.

Consolidated Group revenue (IFRS)

Growth in every geographic region

The 1st quarter 2015 revenue in Europe totalled €78.8M, up 7.6% at constant exchange rates, driven mainly by the revival of activity in Germany. Growth in Europe was 9.3% at current exchange rates, with a particularly favourable exchange rate effect in Switzerland.

Sales increased sharply in the Other Markets, gaining 24.8% at constant exchange rates. This performance is due to the strong surge in sales of Dotarem^® in the USA, the continued upturn in activity in Brazil and growth in Asia.

All product segments growing again

The revenue generated in the MRI segment amounted to €47.3M, versus €39.9M in 2014, i.e. 18.3% growth driven by the USA and Germany. Sales of Xenetix^® were responsible for the development of the X-Ray segment, whose revenue totalled €48.6M, rising by 3.4%. Sales in the IRT segment more than doubled with the success of Lipiodol^® and Patent Blue V. Finally, activity in the medical devices segment gained 10%.

Visibility still limited for the full year

Despite this very good start to the year, visibility is still limited by the uncertainties about the launching of Dotarem^® generics in Europe.

In the X-Ray business, growth should be affected for the next few quarters. The delay in bringing the new ScanBag^® filling line up to its expected production rate will no longer be offset by the inventories of bags produced in 2014 from which the first quarter benefited.

Ultimately, in this environment of limited visibility in the next few quarters, the Group is confirming its projection of sales growth in 2015.

• General Meeting of Shareholders: 29 May 2015 at 2.30pm
• Publication of 2nd quarter 2015 revenue: 28 July 2015 after trading

Guerbet is a pioneer in the contrast agent field, with nearly 90 years' experience, and is the only pharmaceutical group dedicated to medical imaging worldwide. It offers a comprehensive range of X-Ray, Magnetic Resonance Imaging (MRI) and Interventional Radiology and Theranostics (IRT) products, along with a range of injectors and related medical devices to improve the diagnosis and treatment of patients. To discover new products and ensure future growth, Guerbet invests heavily in R&D, spending around 9% of its sales each year. Guerbet (GBT) is listed on NYSE Euronext Paris (Segment B - Mid Caps) and generated revenue of €409 million in 2014. It had a total workforce of 1,461 employees at 31 December 2014.    

For more information about Guerbet, please go to www.guerbet.com