H1 2024 results
Very dynamic business activity
H1 revenue: €419.2m, up 11.8% at CER1
A trajectory driven by all activities and geographical areas
Solid increase in profitability
The restated EBITDA margin2 was 15.4%, compared to 12.7% a year earlier
Operating income almost tripled to €30.3m
Upward revision of annual guidance
Revenue: expected growth of over 9% like-for-like and at CER (>8% previously)
Profitability: restated EBITDA margin rate higher than in 2021 (14.4%)
Villepinte, 25 September 2024, 5.45 p.m.: Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging, is publishing its consolidated financial statements for the first half of the current financial year.
On 30 June 2024, the Group's sales totalled €419.2m, up 10.7% compared with the same period in 2023. Excluding the currency effect (-€4.1m), growth in business activity at constant exchange rates (CER1) came to 11.8%, a change that included an acceleration in the second quarter (+14.5% at CER), following an already very positive momentum in the first quarter (+8.8%).
The EMEA region saw a temporary freeze on the French market following the reform, on 1 March 2024, of the supply circuit for contrast products. Business activity nevertheless increased by 2.4% at CER over the period, with the decline in Q1 (-6.2% at CER) being fully recovered in Q2 (+11.0%).
In the Americas, revenue at mid-year was €127.3m, up 29.1% at CER. This performance was driven by the continuation of the remarkable catch-up initiated in Q4 2023 in the US, as well as by significant market share gains in Latin America – particularly in Brazil.
In Asia, growth remained strong in Q1 (+11.5% at CER), despite a slowdown in Q2 largely linked to the situation in South Korea, affected by a major strike by doctors.
By business activity, Diagnostic Imaging revenue increased by 10.7% at CER in H1 2024, thanks to:
Very positive momentum in X-rays (+13.9% at CER), driven by sales of both Xenetix® and Optiray®.
A solid performance by the IRM division due to an acceleration in Q2 (+13.5%), notably in the wake of the growth of Elucirem TM in the US and the first sales in Germany.
As of 30 June 2024, Interventional Imaging revenue rose 20.8% at CER, a remarkable change assisted by a favourable base effect and driven by very positive momentum for Lipiodol®, in terms of volumes and prices.
In € millionsConsolidated financial statements (IFRS)
H1 2023Published
H1 2024Published
Revenue
378.6
419.2
EBITDA*
45.9
61.0
% of revenue
