Brussels/ Nantes, November 7, 2007
Eurofins continued to make steady progress during this quarter and has seen a positive impact of seasonality on both revenues and profits in Q3.
Revenues grew strongly around the Group and overall were up 36% in comparison to the 2006 nine month period (¤334.0m NM 2007 vs. ¤245.8 NM 2006). Organic growth again exceeded 10%. EBITDA of ¤40.9m for NM 2007 is a 24% increase on prior year (¤33.1m NM 2006) and for Q3, Operating profit increased by 37% from ¤7.7m in Q3 2006 to ¤10.6m for Q3 2007. When analysed by perimeter, Up-to-Standards improved in the quarter and for the nine months reported an EBITAS* profit of ¤28.8m, up from ¤25m in NM 2006; Under Development also improved and reported an EBITAS* margin of -4.6% compared to a -8.6% margin in NM 2006.
Eurofins continues its policy of investing for the medium term. Underlying margins are affected by the high number of start-up countries and laboratories (12 in the last two years), which may take up to 4 years to reach Group profitability levels. Capital expenditure of ¤31.0m in the year-to-date is almost double NM 2006 (¤16.0m), reflecting investment in capacity for growth, state-of-the-art equipment, expansion and modernisation of some of our laboratories. As the Group increases its capabilities and network the investments are starting to pay off. The Eurofins Medinet business is now signing bigger customer agreements as a result of its global central laboratory infrastructure. In France the Group is targeting new and significant contracts and in Scandinavia the Group continues to grow both organically and by acquisition.
Eurofins has also recently updated its objectives for the Group’s revenues in 2007 from ¤450m to ¤460m and in addition is now targeting ¤550m for 2008. The Eurofins leadership will gather in mid-January 2008 to consider new targets for the medium term and these will be announced at that time.
- EBITAS - EBIT before the non-cash items: amortisation of goodwill and accounting for stock options, linked to recent IFRS standard changes. This definition is the same as has been reported previously
For further information about Eurofins please visit www.eurofins.com or contact: Investor Relations Phone: +32-2-769 7383 E-mail: email@example.com
Notes for the editor: Eurofins - a global leader in bio-analysis Eurofins Scientific is a life sciences company operating internationally to provide a comprehensive range of analytical testing services to clients from a wide range of industries including the pharmaceutical, food and environmental sectors. With over 7,000 staff in more than 100 laboratories across 27 countries, Eurofins offers a portfolio of over 25,000 reliable analytical methods for evaluating the authenticity, origin, safety, identity, composition and purity of biological substances and products. The Group is committed to provide its customers with high quality services, accurate results in time and, if requested, expert advice by our highly qualified staff. The Eurofins Group is one of the global market leaders in this field of applied life sciences. It intends to pursue its dynamic growth strategy and expand both, its technology portfolio and its geographic reach. Through R&D, in-licensing and acquisitions, the Group draws on the latest developments in the field of biotechnology to offer its clients unique analytical solutions and the most comprehensive range of testing methods. As one of the most innovative and quality oriented international player in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the demands of regulatory authorities around the world. The shares of Eurofins Scientific are listed on Euronext in the Paris (ISIN FR0000038259) and Frankfurt (WKN 910251) Stock Exchanges (Reuters EUFI.LN, Bloomberg ERF FP, ESF, EUFI.DE).
Important disclaimer: This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the data available to the Company as of the date of publication, but no guarantee can be made as to their validity.© Copyright Actusnews Wire
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