Eurofins raises its sales and profit outlook for 2011 at its Annual Investor Day
06 October, 2011
Eurofins is upgrading its outlook for 2011 during its Annual Investor Day at its flagship Genomics Laboratory in Ebersberg, Germany today. Based on results to date and discussions with its clients, the outlook for 2011 and 2012 remain very positive for the Group. The consistent strengthening of businesses across its markets follows the Group’s intense investments to help its clients meet their increasing regulatory obligations and protect their brands and the safety of their products in a broader and more cost-effective manner.
The management of Eurofins expects that even without further acquisitions1 and even if one only assumes a conservative 5% organic growth going forward, the Group should be able to exceed revenues of EUR 800m in 2011 and EUR 900m in 2012. This is supported by the strong performance in the traditionally weaker first half of the year, when Eurofins delivered organic growth well in excess of its 5% target. Furthermore, as a result of the very large investments in state-of-the-art, efficient laboratories in the last five years, profits are expected to continue to increase. Including the consolidated results of Lancaster (9 months) and Institut Pasteur de Lille (IPL) companies (2 months), Eurofins’ management believes that the Group should deliver adjusted EBITDA in excess of EUR 145m for 2011, which is above the current published consensus estimates2. The Group’s performance to date also strengthens management’s conviction of reaching its objective of generating EUR 1bn in revenues and an EBITDA of EUR 210m by 2013 with very limited need for additional acquisitions.
At the Investor Day in Ebersberg, Germany, the management will host analysts and investors at its European Genomics campus, and provide an in-depth insight into the next generation of growth engines for the company and the industry in general.
Eurofins MWG Operon, Eurofins’ genomics arm, runs one of the largest commercial next-generation sequencing laboratories in Europe, supported by leading experts and one of the most solid IT infrastructures in the market. It is one of the few service providers with the capability to offer to its customers a complete set of the most advanced sequencing technologies, giving routine access to full genome sequencing of organisms. This technological breakthrough, combined with a host of pharmacogenomics and other Genomics services performed in Ebersberg, give rise to a new generation of analytical testing methodologies, which in turn will have profound impact on the way testing is done across all industries, including food, pharma and environment – all of which are core to Eurofins’ business.
1 In addition to those already announced.
2 EBITDA consensus estimate for 2011 of EUR 137m. Source: Bloomberg 04 October, 2011
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Investor Relations and Corporate Communications
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific is the world leader in food and pharmaceutical products testing. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics and central laboratory services.
With about 9,500 staff in more than 150 laboratories across 30 countries, Eurofins offers a portfolio of over 100,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. The Group provides its customers with high quality services, accurate results in time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry 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 players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the NYSE Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).