GUERBET : 3rd quarter 2016 revenue

Revenue at September 30, 2016 

Sales variance stabilized at -2.3% at constant exchange rates

Level of sales in line with expectations

Villepinte, October 24, 2016 - Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is reporting revenue of €568.4 million at September 30, 2016, up 65.4% from 2015, continuing the momentum started in the first half of 2016. This growth figure includes a negative currency impact of €13.4 million mainly from the Brazilian real and the Argentine peso. At constant exchange rates, the Group posted sales of €581.9 million, a limited decrease of 2.3% from the pro forma sales at the end of September 2015 and still in line with the sales stabilization target of +/-3%. With revenue of €191.7 million for third quarter 2016, the strong sales momentum remains comparable with second quarter 2016 (€193.0 million).

Consolidated Group revenue (IFRS)

In millions of euros 9 months 2016  9 months 2015
pro forma*
Change  Reported 2015 1st half 2016 1st half 2015
pro forma
Sales in Europe274.3282.7-2.9%236.7189.7187.5+1.2%
Sales in Other Markets294.1313.1-6.1%106.9187.0210.3-11.1%
Total 568.4 595.8 -4.6% 343.6 376.7 397.8 -5.3%

* Integration of CMDS activities

At constant exchange rates, sales growth is in line with the revenue stabilization objective (+/-3%)

In Europe, consolidated revenue at September 30, 2016 totaled €274.3 million compared with €282.7 million in 2015 in its pro forma version, including a negative currency impact of €2.8 million. The decline in sales was mainly confined to Russia. The region's third-quarter revenue totaled €84.6 million compared with €95.1 million in 2015 (pro forma).

Outside Europe, the Group's sales fell to €294.1 million compared with €313.1 million in 2015 (pro forma), including a negative currency effect of €10.6 million. At constant exchange rates, there was a slight decrease of 2.7%, benefiting particularly from sales of Dotarem ® in the US. Third-quarter revenue in Other Markets increased to €107.1 million compared with €102.8 million in 2015 (pro forma).

Favorable momentum in MRI and IRT, growth expected in X-ray and ISS

At constant exchange rates, the activity breaks down as follows:

  • revenue for MRI totaled €183.2 million, up 3.7% (€176.6 million pro forma 2015),
  • the X-Ray segment was down 5.9% at €282.5 million, still mainly due to Optiray ® ,
  • the IRT segment grew 22.3%, exceeding €40 million in revenue, thanks to the performance of Lipiodol ® and Patent Blue V,
  • lastly, the Imaging Solutions and Services (ISS) segment was down 5.9% with revenue of €58.1 million.

2016 outlook: confirmation of annual targets

The performance level for the first nine months of the year is within the window of +/-3% announced as the full-year target, allowing the Group to confirm this goal.

Upcoming events:

2016 revenue: February 15, 2017, after trading

About Guerbet

Guerbet is a pioneer in the contrast agent field, with 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 Euronext Paris (Segment B - Mid Caps) and generated €789 million in pro forma revenue in 2015.

For more information about Guerbet, please visit


Guerbet Actifin
Jean-François Le Martret
Chief Financial Officer
(+33)(0)1 45 91 50 00




Financial Communications
Benjamin Lehari
(+33)(0)1 56 88 11 25


Jennifer Jullia
(+33)(0)1 56 88 11 19

GUERBET : 3rd quarter 2016 revenue

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: GUERBET via GlobeNewswire