EXCEPTIONAL 2020 TURNOVER OF € 189 MILLION (+ 220%)
• A leading player in diagnostics able to adapt and meet the needs generated by the health crisis
• Strong momentum in traditional activities (+ 22% to € 71.9 million)
• Acceleration of the growth strategy thanks to improved visibility and greatly increased financial resources
Paris, January 25, 2021 - 5:45 p.m.
Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible),a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated annual turnover as of December 31, 2020.
Exceptional growth of + 220% to € 189m
Eurobio Scientific recorded exceptional sales of € 188.9 million for the 2020 financial year, an increase of 220% compared to the previous financial year. More than 60% of these sales (€ 117m) are related to COVID-19 diagnostic tests and instruments.
Eurobio Scientific was able to quickly deploy on its market of specialized private and hospital laboratories for medical biology, a whole range of in vitro diagnostic tests for the detection of the SARS-Cov-2 coronavirus, and thus support efforts to manage the health crisis by public and private actors. This performance was made possible thanks to long-term partnerships with its suppliers, as well as the experience and responsiveness of its R&D department and its sales teams, all integrated within an organization already adapted and ready to manage a strong growth.
During the financial year, Eurobio Scientific continuously delivered various reagents necessary for the diagnosis of COVID-19 and supplemented the equipment of health actors with new machines. The company has been able to build up a catalog of products among the most complete on the market in record time, including:
- high-throughput automated PCR tests for the detection of SARS-CoV-2, with the first CE-marked test in France from its Korean partner Seegene and its proprietary tests from the EBX range, all of these tests making it possible to detect all variants of the coronavirus, both on nasopharingeal swab and saliva,
- tests for the identification and typing of the main variants of SARS-CoV-2, complementary to existing PCR tests and which will be launched for research use in the coming days,
- an antigenic test on instrument for hospital laboratories,
- a rapid proprietary antigen test, launched very recently and intended for professional players in point of care medicine, in particular pharmacists. and
- several serological tests, including neutralization tests available to accompany the vaccination campaign.
Internationally, the company has signed several agreements and contracts with distribution partners for the marketing of its EBX proprietary range of molecular biology. Thus, significant sales of the EBX SARS-CoV-2 test were achieved, and there still are significant orders for the coming months.
Turnover excluding COVID increases + 22% (+ 10% organically) at € 71.9 million
Very mobilized, in a context of organizational constraints linked to confinements and the strong increase in activity on COVID products, traditional activities recorded a solid growth, with turnover of € 71.9 million, up 22 % compared to 2019.
On a like-for-like basis, excluding sales related to acquired subsidiaries, in particular TECOmedical on July 1, 2020, sales excluding COVID increased over the year by 10%.
Eurobio Scientific has thus been able to meet the demand for products unrelated to COVID-19 in a tense market context disrupted by the fight against the epidemic. In France, the company is benefiting, particularly in the disease division, from the increase in the number of customers and in the installed equipment base amplified by the need for automation linked to the COVID-19 activity, and the continued development of molecular biology.
The sustained growth of the classic activity excluding COVID-19 confirms the resilience of Eurobio Scientific's product lines as well as the relevance of its business model, secured by the recurrence of its sales.
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TECOmedical and Pathway Diagnostics' non-COVID-19 sales were also strong. Highly specialized in the fields of immunology and research products, these two recently integrated subsidiaries had to get organized to meet the needs linked to the epidemic. Therefore, during the second half of 2020, Eurobio Scientific opened new microbiology departments in both companies, in order to promote its proprietary molecular biology offer in their respective geographic areas.
This development is starting to bear fruit with the signing of the first customer contracts, particularly in Germany and UK, which should allow an increase in sales of EBX proprietary products in the coming months.
An exceptional year paving the way for an accelerated strategic development
Beyond turnover, good management of the crisis and increased activity had very positive impacts for Eurobio Scientific, namely: a strengthened image, new customers in France and abroad, a growing number of installed automates, and a higher share of proprietary products sales. The Group expects a very strong improvement in its results for the 2020 financial year, leading to a very solid financial base with a cash position of around € 65 million as of December 31, 2020, and around € 25 million of overall financial debt.
This increased visibility and these strengthened resources will enable Eurobio Scientific to accelerate its strategic deployment with the following specific objectives:
- an increase in the share of proprietary products, thanks to new investments in R&D and molecular biology,
- the strengthening of international sales team,
- the signing of new distribution partnerships, and
- the pursuit of its targeted external growth strategy.
Next financial meeting
2020 annual results: April 14, 2021 (after market close)
About Eurobio Scientific
|Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 148 employees and three production units based in the Paris region, in Germany and in the United States, and several affiliates based in Dorking UK, Sissach Switzerland, Bünde Germany and Utrecht in The Netherlands. |
For more information, please visit : www.eurobio-scientific.com
The company is publicly listed on the Euronext Growth market in Paris
Euronext Growth BPI Innovation, PEA-PME 150 and Next Biotech indices, Euronext European Rising Tech label.
Symbol: ALERS - ISIN Code: FR0013240934 - Reuters: ALERS.PA - Bloomberg: ALERS:FP
|Group Eurobio Scientific|
Denis Fortier, General Manager
Hervé Duchesne de Lamotte, General Manager
Tel. +33(0) 1 69 79 64 80
Mathieu Calleux / Gregory Bosson
Tel. +33(1) 53 65 68 68
This press release contains non-factual elements, including, but not limited to, certain statements regarding future results and other future events. These statements are based on the current vision and assumptions of the management of the Company. They incorporate known and unknown risks and uncertainties that could result in significant differences in results, profitability and expected events. In addition, Eurobio Scientific, its shareholders and its affiliates, directors, officers, counsels and employees have not verified the accuracy of, and make no representations or warranties about, statistical information or forecast information contained within this news release and that originates or is derived from third party sources or industry publications; these statistical data and forecast information are only used in this press release for information purposes. Finally, this press release may be drafted in French and in English. In the event of differences between the two texts, the French version will prevail.
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