- Solid growth in sales, up 11.5% at
constant exchange rates and scope of consolidation
- €489 million in sales
- Up 9.1% as reported
- Americas (up 22.5%) confirms its
role as a key growth driver for the Group
- Clinical microbiology: up 6.7%,
driven primarily by successful sales of the VITEK®
and BacT/ALERT® lines
- FilmArray® Torch
high-throughput system CE marked and FDA cleared with all four
existing FilmArray® panels
Alexandre Mérieux, Chief Executive Officer, said: "Supported by
strong momentum in the Americas and a good start in the
Asia-Pacific region, we achieved organic growth of 11.5% in the
first three months of the year. Backed by our solid first-quarter
2016 performance, we are continuing our drive to enhance operating
efficiency in line with our strategic roadmap and our full-year
objectives."
Regulatory News:
bioMérieux (Paris:BIM), a world leader in the field of in vitro
diagnostics, today released its business review for the three
months ended March 31, 2016.
SALES
Consolidated sales rose to €489 million in the first three
months of 2016 from €448 million in the year-earlier period. This
represents growth of 9.1% as reported and includes a negative
currency impact of around €7 million as well as the previously
announced deconsolidation of bioTheranostics as of January 1, 2016.
Organic growth (at constant exchange rates and scope of
consolidation) represented 11.5% year-on-year, led by strong
FilmArray® sales (for around 400 basis points), despite a weaker
flu season that also began later than in the same period of
2015.
Analysis of sales
In € millions
Sales - Three months ended March 31, 2015
448 Currency effect -7 -1.6% Organic growth (at
constant exchange rates and scope of consolidation) +51 +11.5%
+10.7% Changes in scope of consolidation* -4 -0.8%
Sales - Three
months ended March 31, 2016 489 +9.1%
* Deconsolidation of bioTheranostics and consolidation of
Applied Maths as of January 1, 2016.
Growth during the first quarter fully benefited from the broad
portfolio of technologies, particularly FilmArray®, which saw a
sharp rise in sales, and the VIDAS® and VITEK® lines, which turned
in a solid performance. Sales for the BacT/ALERT® blood culture
lines also rose significantly, while sales for industrial
applications replicated the sound performance recorded in the
fourth quarter of 2015. bioMérieux's first-quarter performance was
also underpinned by the Group's balanced geographical footprint.
With growth of 22.5%, the Americas confirmed its position as the
Group's key growth driver, supported by improved conditions in
Asia-Pacific.
First-quarter 2016 sales may be summarized by region as follows:
Sales by Region
In € millions
3 months ended March
31,2016
3 monthsendedMarch 31,2015
%changeas reported
% changeat constantexchangerates
andscope ofconsolidation
Europe(1)
206.9 204.0 +1.4%
+2.4% Americas
212.8 176.5 +20.6%
+22.5% North
America
182.9 144.7 +26.4% +24.0% Latin America
29.9
31.8 -6.0% +15.9% Asia-Pacific
67.4 61.9
+8.9%
+10.7% Total sales from the
regions 487.1 442.4 +10.1%
+11.6% bioTheranostics 4.1 Applied Maths
0.6
R&D-related revenue
0.8 1.4
TOTAL 488.5 447.9
+9.1%
+11.5%
(1) Including the Middle East and Africa.
- Growth remained very strong in the
Americas during the first quarter, with three-month sales
climbing 22.5% year-on-year to €213 million. The region's sales
accounted for around 44% of the consolidated total, versus 39% in
the prior-year period.
- In North America (37% of the
consolidated total), sales rose by 24.0% year-on-year, led by all
of the Group's strategic lines. Excluding FilmArray®, sales jumped
more than 11% year-on-year, reflecting brisk sales for the VIDAS®,
VITEK® and BacT/ALERT® lines as well as healthy performances for
industrial applications. Growth in the region was also accelerated
by FilmArray®, which turned in another stellar performance, and
BioFire Defense.
- In Latin America, first-quarter
sales surged 15.9% year-on-year at constant exchange rates, while
reported growth was held back by a negative currency effect. At
constant exchange rates, the area displayed growth in Argentina,
Brazil and Chile, while sales in Mexico declined slightly due to an
unfavorable comparison with the prior-year period.
- Sales in the Europe – Middle East –
Africa region (42% of the consolidated total, compared with 46%
in first-quarter 2015) came to €207 million for the period, up
2.4% year-on-year.
- In Western Europe (36% of the
consolidated total), sales remained stable year-on-year at
€178 million. In Northern Europe, performance was affected by
a slight fall in growth compared with the particularly buoyant
first-quarter 2015, while sales in Spain and Portugal continued to
advance at a satisfactory pace. In France, sales dropped by around
4%, penalized by slower demand for the VIDAS® line and industrial
applications as the consolidation of laboratories continued along
with the Group's measures to streamline its product range.
- The Eastern Europe – Middle East –
Africa region enjoyed vigorous sales growth of around 20% in
the first quarter, driven by strong performances in all areas,
especially the Middle East where sales were boosted by the renewal
of a number of agreements with national governments.
- In the Asia-Pacific region (14%
of the consolidated total), sales came to €67 million for the
period, up 10.7% year-on-year. The increase reflects renewed
momentum in China and South Korea as well as another period of
solid growth in India.Growth in China returned to the double
digits in first-quarter 2016 as reagent sales continued to climb at
a fast pace. The performance was led by rapid gains in
microbiology, particularly the BacT/ALERT® and VITEK® lines, and
solid growth for industrial applications, which more than offset
slightly weaker demand for VIDAS®.
First-quarter 2016 sales may be summarized by application as follows:
Sales by Application
In € millions
3 months ended March
31,2016
3 monthsendedMarch 31,2015
%changeas reported
% changeat constantexchangerates
andscope ofconsolidation
Clinical Applications 392.9 356.8
+10.1%
+11.6% Microbiology
206.9 198.1
+4.4%
+6.7% Immunoassays(1)
104.1 97.6 +6.6%
+8.6% Molecular biology(2)
80.2 57.6 +39.2%
+37.1% Others
1.7 3.5 -50.7%
-51.6%
Industrial Applications 86.0 82.5
+4.1%
+6.1% bioTheranostics 4.1 BioFire
Defense
8.2 3.1 x 2.7
x 2.6 Applied Maths
0.6
R&D-related revenue
0.8 1.4
TOTAL 488.5 447.9
+9.1%
+11.5%
(1) Including VIDAS®: up 9.5% at constant exchange rates and
scope of consolidation.(2) Including FilmArray® sales in an amount
of €61 million.
- Sales of clinical applications
rose by 11.6% year-on-year to €393 million and accounted for
approximately 80% of consolidated sales.
- Microbiology sales rose by 6.7%
year-on-year to €207 million. Sales of the BacT/ALERT® blood
culture line were up sharply in all regions in the first quarter,
led by instruments and reagents alike. A revitalized marketing
offensive for the blood culture line – which saw the addition of
VIRTUO™, a new, more automated detection system, and new-generation
BacT/ALERT FAN® Plus bottles offering enhanced antimicrobial
neutralization – began to yield positive results, with sales up by
around 10% on first-quarter 2015. Sales of the VITEK® automated
microbial identification and antibiotic susceptibility testing line
rose by more than 7% year-on-year, buoyed mainly by a sharp rise in
reagent sales in all regions.
- In immunoassays, VIDAS® sales
climbed 9.5% year-on-year. Sales of tests with high medical value
and in emerging countries now represent nearly 80% of VIDAS® sales,
providing for vigorous growth and absorbing the decline in routine
tests in developed countries where laboratory consolidation
continued apace.
- Molecular biology sales totaled
€80 million during the period, an increase of 37.1% year-on-year.
The FilmArray® line continued to perform well, surging by some 55%
year-on-year to account for around €61 million of the
application's total sales. The FilmArray® Respiratory Panel
continued to represent the vast majority of sales, despite a flu
season of low intensity. Sales of the other FilmArray® panels
(Blood Culture Identification, Gastro-Intestinal and
Meningitis/Encephalitis) gained ground thanks to an increase in the
proportion of customers using multiple panels. FilmArray®
international sales accounted for 8% of its total sales, up from 4%
in the prior-year period, an encouraging sign that the syndromic
approach to the diagnosis of infectious diseases is being taken up
outside the United States.
- Industrial application sales,
which represent around 18% of the consolidated total, rose by 6.1%
to €86 million in the first three months of 2016. Growth was
primarily led by gains for the microbiology lines (culture media,
automated identification and blood culture for blood banks) and, to
a lesser extent, swift momentum from VIDAS®, which more than offset
the discontinuation of certain lines as part of measures to
streamline bioMérieux's product portfolio. The product launches
planned for 2016 are aimed at encouraging and supporting growth in
sales of industrial applications.
- Organic growth in sales of
reagents and services, which accounted for 92% of
consolidated sales, came to 12.4% in the first three months.
OTHER INFORMATION
At March 31, 2016, after payment of variable compensation,
net debt stood at €234 million, up from €219 million at
December 31, 2015.
FIRST-QUARTER OPERATING HIGHLIGHTS
- Sale of Adiagène along with the
ADIAVET™ and ADIAPURE™ lines
bioMérieux acquired Adiagène in 2011 with the acquisition of AES
Laboratoire. The company specializes in the research, development
and manufacturing of molecular biology tests for the diagnosis of
animal diseases. Its ADIAVET™ and ADIAPURE™ lines are designed to
detect some thirty different veterinary pathogens. bioMérieux sold
Adiagène in early April 2016 to Finalab – a network of laboratories
specialized in veterinary biological analysis – in order to focus
its work in the veterinary field on microbiology and immunoassays.
The Group will continue to distribute ADIAVET™ and ADIAPURE™
products until the end of June 2016. The ADIAVET™ and ADIAPURE™
lines generate around €2 million in annual sales. The capital gains
arising from this transaction will not have a material impact on
the Group's 2016 financial statements.
SUBSEQUENT EVENTS
- FDA clearance and CE mark received
for the FilmArray® Torch
On April 8, 2016, bioMérieux announced that BioFire Diagnostics,
LLC, its molecular biology affiliate, received clearances from the
U.S. Food and Drug Administration (FDA) to market the FilmArray®
Torch for use with the FilmArray® Blood Culture Identification
(BCID), Gastrointestinal (GI) and Meningitis/Encephalitis (ME)
panels. FilmArray® Torch already received FDA clearance for use
with the FilmArray® Respiratory Panel (RP) in February 2016.
FilmArray® Torch was CE marked at the same time. BioFire introduced
FilmArray® Torch at the ECCMID1 and anticipates commercial
availability this summer in the United States and this fall in
Europe.
- bioMérieux and the University of
Anvers publish the results of the first global survey on
antimicrobial consumption
At the ECCMID1, bioMérieux and the University of Anvers' medical
microbiology laboratory presented the final report of the Global
Point Prevalence Survey (Global-PPS) of Antimicrobial Consumption
and Resistance. Unprecedented in scale, the Global-PPS gathered
data from more than 100,000 inpatients in 53 countries. The results
exceeded initial expectations and the survey is now viewed as a
global reference for enhancing the quality of local prescription
recommendations, improving education, developing professional
practices and assessing the impact of such initiatives.
INVESTOR CALENDAR
Annual General Meeting: May 26, 2016
Second-quarter 2016 sales: July 18, 2016, before start of trading
First-half 2016 results August 31, 2016, before start of trading
Third-quarter 2016 sales: October 20, 2016, before start of trading
The above forward-looking statements are based, entirely or
partially, on assessments or judgments that may change or be
modified, due to uncertainties and risks related to the Company's
economic, financial, regulatory and competitive environment,
notably those described in the 2015 Registration Document.
Accordingly, the Company cannot give any assurance nor make any
representation as to whether the objectives will be met. The
Company does not undertake to update or otherwise revise any
forecasts or objectives presented herein, except in compliance with
the disclosure obligations applicable to companies whose shares are
listed on a stock exchange.
ABOUT BIOMÉRIEUX
Pioneering Diagnostics
A world leader in the field of in vitro diagnostics for more
than 50 years, bioMérieux is present in more than
150 countries through 42 subsidiaries and a large network of
distributors. In 2015, revenues reached €1,965 million with
90% of sales outside of France.
bioMérieux provides diagnostic solutions (reagents, instruments,
software) which determine the source of disease and contamination
to improve patient health and ensure consumer safety. Its products
are used for diagnosing infectious diseases and providing high
medical value results for cancer screening and monitoring and
cardiovascular emergencies. They are also used for detecting
microorganisms in agri-food, pharmaceutical and cosmetic
products.
bioMérieux is listed on the Euronext Paris stock market(Symbol:
BIM/Reuters: BIOX.PA/Bloomberg: BIM.FP – ISIN:
FR0010096479)Corporate website: www.biomerieux.com. Investor
website: www.biomerieux-finance.com
1 European Congress of Clinical Microbiology and Infectious
Diseases.
NB: Unless otherwise stated, growth
is expressed year-on-year at constant exchange rates and scope of
consolidation (like-for-like).
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version on businesswire.com: http://www.businesswire.com/news/home/20160420006303/en/
Investor RelationsbioMérieuxSylvain MorgeauTel.:
+33 (0)4 78 87 22 37investor.relations@biomerieux.comorMedia
RelationsbioMérieuxAurore SergeantTel.: +33 (0)4 78 87
54 75media@biomerieux.comorImage SeptLaurence HeilbronnTel.:
+33 (0)1 53 70 74 64lheilbronn@image7.frClaire DoligezTel.: +33
(0)1 53 70 74 48cdoligez@image7.fr
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