Eurofins Reports Very Strong Performance With Organic Growth Exceeding 22% in Q3 2020 and Sets New Objectives For 2022
22 Octobre 2020 - 7:20AM
Business Wire
Today, Eurofins Scientific, a world leader in Testing for Life,
employing 50,000 people in 800 laboratories in 50 countries
published its Q3 trading statement and on this occasion set new
objectives for 2022:
https://www.eurofins.com/media-centre/press-releases/2020-10-22/
- Q3 2020 revenues increased 21.0% year-on-year to EUR 1,413m vs.
EUR 1,167m in Q3 2019. Over the first nine months of 2020 (NM
2020), revenues grew 12.0% to EUR 3,736m vs. EUR 3,335m during the
same period last year.
- Organic growth was very strong at +22.7% in Q3 2020 and +11.1%
over NM 2020.
- Despite the continued COVID-19 pandemic related business
disruptions, Eurofins core business (excluding any COVID-19
clinical testing and reagents revenues) returned to small positive
organic growth in Q3 2020, once again demonstrating the strong
resilience of Eurofins’ end markets. Many of Eurofins’ core
businesses across Food, Environment and BioPharma testing achieved
more than 5% organic growth in Q3 2020.
- Eurofins continues to demonstrate its strong commitment towards
supporting healthcare providers and national and state authorities
in their ongoing efforts to mitigate the spread and impact of the
virus. As an example of Eurofins’ agility and the strength of its
R&D teams, a Eurofins company just received an Emergency Use
Authorization (EUA) from the U.S. Food and Drug Administration
(FDA) for their At Home COVID-19 Nasal PCR Test. This is a major
milestone in facilitating access to a very sensitive test as
sampling by healthcare professionals is often a bottleneck to
access gold standard PCR testing. Other developments in the fight
against COVID can be found here:
https://www.eurofins.com/covid-19-response/
- Hopefully, the pandemic will be brought under control by 2022.
The Group is thus introducing 2022 objectives excluding any
COVID-19 testing and clinical reagent revenues: EUR 5.7bn revenue,
EUR 1.35bn adjusted EBITDA and EUR 800m Free Cash Flow to the Firm
(FCFF), and is optimistic about continued 5% organic growth and
margin and FCFF increases beyond this. 2020 and 2021 objectives
were unchanged but actual results could be significantly higher,
especially in 2020.
About Eurofins – the global leader in bio-analysis
With over 50,000 staff across a network of more than
800 laboratories in over 50 countries, Eurofins’
companies offer a portfolio of over 200,000 analytical
methods.
Eurofins Shares are listed on Euronext Paris Stock Exchange.
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version on businesswire.com: https://www.businesswire.com/news/home/20201021006158/en/
Investor Relations Victoire Spahn ir@eurofins.com
Eurofins Scientific (EU:ERF)
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