eurofins q1 2020 results

17 Jan eurofins q1 2020 results

In October 2020, Eurofins’ Expertise Centre for Complex Carbohydrates & Chemistry (CCC) announced the development and availability of a new method for the identification of fructans in infant formula and adult nutritionals matrices. These state of the art standards can be used to maintain calibrations in most in-house testing equipment, and are recognized by major equipment manufacturers as the standards of choice. 2020 Half Year Results 06 August 2020 Eurofins reports solid growth of revenues, profits and cash flows in H1 2020 and continued positive organic growth in Q2 in spite of the COVID-19 pandemic. Agenda –Q3/NM 2020 Results Presentation. In the Rest of the World, Food, Environment and BioPharma testing services experienced a strong rebound across the Asia Pacific region with high single digit organic growth in Q3 2020 and above 5% in NM 2020. 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 a very large range of testing methods. It is therefore now confirmed that Eurofins will significantly exceed its financial objectives for 2020 (which were set on 4 March 2020, before the COVID-19 disruptions started in Europe and North America and had remained unchanged since). In October 2020, Eurofins launched Europe’s first validated test method to evaluate filtration capacity of masks for SARS-CoV-2. The I’screen AFLA M1 milk testing kit is the first screening method to receive AOAC approval for aflatoxin M1 analysis in milk commodities. Fructans are mandatory components in infant formula and adult nutritionals and they are strictly regulated by various authorities worldwide. In September 2020, Eurofins became the market leader in environment testing in Taiwan with the acquisition of the SunDream Group, the second largest player in the market employing over 350 staff. In North America, revenues expanded 9.3% in NM 2020 as the BioPharma services business line grew high single digit and the Food testing activities showed resilience with organic growth close to 5% in NM 2020 whilst Environment testing remains in negative territory, in line with the market. No. Q3 2020 revenues increased 21.0% year-on-year to EUR 1,413m vs. EUR 1,167m in Q3 2019. In spite of the continued COVID-19 pandemic related business disruptions, Eurofins core business (excluding any COVID-19 clinical testing and reagents revenues) returned to small positive organic growth in Q3 2020, once again demonstrating the strong resilience of Eurofins’ end markets. Western Europe remains the largest region for Eurofins, representing c.49% of total Group revenues in Q1 2019, with France generating 20% of total Group revenues, ahead of Germany which accounted for 10% of total Group revenues, whilst Benelux, the UK & Ireland, and the Nordic countries each contributed ca.6% to Q1 2019 revenues. On the other hand, in South America, Food and Environment testing services remained in negative territory in NM 2020, even if slowly recovering in Q3 2020. Pooling can be used to continuously and cost-effectively monitor low-risk groups that show a low prevalence of COVID-19 infection. The stock split should improve trading liquidity and make stock ownership more accessible to a broader base of investors, including employees. Some of the many developments that have taken place since the Group reported its H1 2020 results are highlighted below. These objectives reflect the continuation of a strong focus on margins and cash flow generation, which has not been derailed by the COVID-19 related activities as these are at or above Group margin and as Eurofins’ 5 years programme to build a world-class fully digitalised hub and spoke laboratory network will be completed soon. Since March 2020, Eurofins has demonstrated its strong commitment towards supporting healthcare providers and national and state authorities in their ongoing efforts to mitigate the spread and impact of the virus. In September 2020, Eurofins Technologies announced that its ELISA assay (enzyme-linked immunosorbent assay) for the detection of aflatoxin M1, I’screen AFLA M1 milk, has been granted AOAC Research Institute Performance Tested MethodsSM status (AOAC Cert. Eurofins is expanding its offering for COVID-19 testing to include flu and respiratory viruses and a number of new modalities to facilitate patients access to tests and speed of testing. Search |  In September 2020, Eurofins Technologies announced that its ELISA assay (enzyme-linked immunosorbent assay) for the detection of aflatoxin M1, I’screen AFLA M1 milk, has been granted AOAC Research Institute Performance Tested Methods. • Q1 2020 revenues increased 7% year-on-year to EUR 1,142m • 4.1% organic growth ( 4.6% excluding Boston Heart Diagnostics & two laboratories closed due to a fire), showing the resilience of Eurofins underlying markets This information should be considered in addition to, but not in lieu of, information prepared in accordance with IFRS. 3 | McLaren Q1 2020 Results North America 53% APAC, ex. A 2020-2021 FCFF objectives have been restated to take into account the cash flow statement reclassification performed in H1 2020. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. For fiscal 2020, the drug manufacturer lifted its 2020 GAAP EPS outlook, while reaffirmed the non-GAAP EPS target. expanded its chemistry capacity to serve customer demand in the growing market of outsourced drug discovery with a new building nearing completion at Eurofins Discovery’s flagship chemistry site at Eurofins Villapharma in Murcia, Spain. Q1 2020 Results May 12, 2020. Eurofins Textile Testing Spain is currently the only laboratory in Europe and one of only three laboratories in the world to offer such a test, which is mandatory for all masks sold in the North American market. Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP). Q1 2020: Strong start to year despite challenging period 1. Over the first nine months of 2020 (NM 2020), revenues grew 12.0% to EUR 3,736m vs. EUR 3,335m during the same period last year. 10/29/2020 5:11:46 PM Mary Kate Izzo, Project Manager (717)556-4656 marykateizzo@eurofinsus.com The test results in this report meet all 2003 NELAC, 2009 TNI, and 2016 TNI requirements for accredited parameters, exceptions are noted in this report. Cookie Notice | Results are reviewed by a licensed physician and provided via email within 24 hours of sample receipt. Eurofins provides in the Income Statement certain alternative performance measures (non-IFRS information such as “Adjusted Results2 and Separately Disclosed Items3”) that exclude certain items because of the nature of these items and the impact they have on the analysis of underlying business performance and trends. Contact Us |  The gap to 5% organic growth in Q3 2020 of Eurofins core business is mostly due to some businesses where revenues are still down compared to Q3 2019 due to disturbances caused by the pandemic. More information can be found in the “COVID-19 related business developments” section of this release and at: Given the impossibility to predict the evolution of the COVID-19 pandemic in 2020 and 2021, the Group has decided to leave its objectives for those two years unchanged (2020-2021 objectives were set before the onset of the COVID-19 pandemic). Beyond 2022, Eurofins sees a strong outlook for its core Biopharma, Food, Genetic, Cosmetic, Environment and advanced esoteric Clinical testing activities. Revenue of $3.5 billion, growing 14% year-over-year or 16% on a constant currency basis Rides Adjusted EBITDA of $581 million Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended March 31, 2020. Although Eurofins exposure to clinical testing and IVD products is recent (it only started in 2014) and small (under 20% of Group revenues in 2019), cooperation with other Group companies enabled an outsized impact on overall Group results in Q3. •Q1 2020 revenues increased 7% year-on-year to EUR 1,142m • 4.1% organic growth (4.6% excluding Boston Heart Diagnostics & two laboratories closed due to a fire), showing the resilience of Eurofins underlying markets • Negative impact recorded in Q1 2020 from lockdown measures (China, Europe, USA) not yet compensated by additional COVID-19 testing and research activities From any device, click the link above to join the conference call. Disposals correspond to the sale by Eurofins of business assets to a third party. This press release contains forward-looking statements and estimates that involve risks and uncertainties. In August 2020, Eurofins Technologies launched its GSD NovaPrime® RNA Extraction kits, which are reagents for automated extraction of genomic SARS-CoV-2 RNA (ribonucleic acid) from clinical swab samples. It can also be used as part of surveillance testing. AbbVie reported its first quarter 2020 earnings results, which surpassed the market’s views.Adjusted EPS of $2.42 and revenue of $8.62 billion, topped analysts’ EPS target of $2.25 and revenue target of $8.33 billion. Fastly released their Q1 2020 earnings report on May 6. Eurofins Scientific is an international life sciences company which provides a unique range of analytical testing services to clients across multiple industries. At the midpoint, Q2 annualized revenue growth was increased over 20%. By geography, Eurofins’ revenue growth for NM 2020 was 15.2% in Europe, 9.3% in North America and 3.8% in the Rest of the World, reflecting the different business exposures between regions and how those have been affected by the pandemic (Eurofins has limited Clinical Diagnostics and BioPharma testing activities in the Rest of the World). The FDA EUA-authorised, self-collection kit gives consumers a painless, convenient and quick option to detect the virus from the comfort of their home. Eurofins management is confident that the Group should be able to achieve or exceed these 2020-2022 objectives set as follows: For 2020, achieve EUR 5bn of revenues, including 5% from organic growth, EUR 1.1bn adjusted, For 2021, achieve EUR 5.45bn revenues, including 5% from organic growth, EUR 1.25bn adjusted EBITDA and EUR 700m. Share-based payment charge and acquisition-related expenses, net – Share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, loss/gain on disposal, negative goodwill and transaction costs related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions. Click here to Join Call >> These APMs are described in more detail in the Condensed Interim Consolidated Financial Statements for the period ended 30 June 2020 in Note 1 and in the Consolidated Financial Statements 2019 in Notes 1.27 and 1.28. U.S. +1 8335 268 347 No need to dial in. CCC co-developed, in close co-operation with Nestlé Research (Lausanne, Switzerland), this novel method and managed the necessary collaborative study to fulfil the specific official standard method performance requirements. Eurofins Raises Its 2020 Objectives After Strong Momentum in Its Core Business, as Well as in COVID-19 Related Activities in October and November PRESS RELEASE Businesswire Dec. 15, 2020… Investors, Sitemap | The Group is introducing 2022 objectives, as 2022 should hopefully be the first year where the pandemic is brought under control and without any COVID-19 related impact (neither positive nor negative). Q2 projections and full year raise were even more impressive. The list of entities classified as mature is reviewed at the beginning of each year and is relevant for the whole year. France +33 1707 507 18 In October 2020, Eurofins’ Expertise Centre for Complex Carbohydrates & Chemistry (CCC) announced the development and availability of a new method for the identification of fructans in infant formula and adult nutritionals matrices. • Net debt14 at the end of June 2020 decreased significantly to … China 10% China 6% Rest of World 7% Europe 24% Automotive 63% Racing 28% Applied 10% Group Q1 2020 revenues £109m (Q1 2019 £284m) Q1 2020 LTM EBITDA £75m (Q1 2019 £150m) Automotive https://www.eurofins.com/covid-19-response/. These new objectives assume that, by then, the lost growth of the non COVID-19 testing core business compared to the 5% objective in 2020 due to the lockdowns and travel restrictions will be caught back in full as was the case for the revenues lost due to the 2019 cyber-attack. In September 2020, Eurofins Diatherix continued to leverage its extensive respiratory and infectious disease expertise with the launch of Flu Plus, a new test to identify SARS-CoV-2 and five additional and most prevalent viruses associated with respiratory illnesses. The test can be used to evaluate the efficacy and safety of surgical masks and hygienic masks against COVID-19. LUXEMBOURG--(BUSINESS WIRE)--Regulatory News: Comments from the CEO, Dr. Gilles Martin: “Q3 2020 was a positive quarter for Eurofins as the Group companies’ agility and speed of innovation enabled it to deliver very strong organic growth in spite of the pandemic. The extraction kits work with a large range of existing automation equipment for subsequent real-time RT-PCR (reverse transcription polymerase chain reaction) analysis using approved IVD kits, thereby enabling laboratories to meet unprecedented demand for COVID testing capacity. Eurofins Lancaster Laboratories Environmental (TALS) | Archive Eurofins Lancaster Laboratories Environmental Data Access (Data reported prior to May 2020) Eurofins Air Toxics Eurofins … The results were a blow-out. Eurofins Corporate Timetable, financial calendar, publication dates. Q4 / FY 2019 Preliminary Results PRESENTATION Preliminary Q4 & FY 2019 Results Feb 10, 2020… This difference is reflected in an increase of 1.7 percentage points (approximately 14%) in the market share of our brands on this market. Our financial performance is concrete evidence of our positioning in attractive end markets as well as the results of years of investments to build a global network of state-of-the art laboratories and leading R&D teams which has enabled us to mobilise quickly and develop solutions to support healthcare authorities and our clients fighting the pandemic. Calibration Standards Results Eurofins DQCI offers a large portfolio of Calibration Standards to meet the needs of the Dairy Foods Manufacturing Industries. A The 2020 FCFF objective of EUR 500m was introduced in March 2020, but adjusted to EUR 600m in H1 2020 to include the IFRS 16 related reclassification. E-mail: ir@eurofins.com, In September 2020, Eurofins Diatherix continued to leverage its extensive respiratory and infectious disease expertise with the launch of. 01 March 2021 (TBC) FY 2020 Results Publication: 22 April 2021 (TBC) 2021 Annual General Meeting Q1 2020 Results Results per business units 7 Volumes have increased by 31% in the Spain BU, in which the total growth of the olive oil market was 19%. EUR 20 million from its insurers in October 2020 to compensate for the lost gross margin resulting from the 02 June 2019 cyber-attack, bringing the total proceeds received to date to ca. With over 50,000 staff across a network of more than 900 independent companies in over 50 countries generally specialised by end client markets and operating more than 800 laboratories, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services. Clients relationships remain strong though and a resumption of these activities to normal is expected when the pandemic is brought under control. Fructans, including inulin and fructo-oligosaccharides (FOS), are added as ingredients to all kinds of food, feed and pet food products. Eurofins is a key provider of COVID-19 testing. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins continues to demonstrate its strong commitment towards supporting healthcare providers and national and state authorities in their ongoing efforts to mitigate the spread and impact of the virus. Careers |  2020 vs. EUR 115m in H1 2019) as Eurofins acquired only seven companies in H1 2020, most of them in Q1 as part of discussions initiated prior to the pandemic spreading to Europe and North America. October and November 2020 trading performance has been strong. This is a major milestone in facilitating access to a very sensitive test as sampling by healthcare professionals is often a bottleneck to access gold standard PCR testing. In August 2020, Eurofins Clinical Diagnostics U.S. launched its pooled PCR test, a lower cost highly accurate COVID-19 PCR test. Discontinued activities / disposals: discontinued operations are a component of the Group’s core business or product lines that have been disposed of, or liquidated; or a specific business unit or a branch of a business unit that has been shut down or terminated, and is reported separately from continued operations. Organic growth calculated from 23 January in both quarters is 35% 5 Strong demand… Immunology: 57% growth at CER year on year All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity. Regulatory News: Eurofins (Paris:ERF): Q3 2020 revenues increased 21.0% year-on-year to EUR 1,413m vs. EUR 1,167m in Q3 2019. This report may not be reproduced ... and Eurofins Lancaster Laboratories On the other hand, non COVID-19 clinical testing volumes greatly suffered from the pandemic before rebounding in the summer. catering and hospitality), particularly in France. Q1 actuals were comfortably above estimates for revenue and profitability. Eurofins scientists develop multiple new solutions to support the world’s fight against the COVID-19 pandemic – ramping up production to enable over 20 million patients tests per month by end May 2020 Activity shows strong resilience in Q1 2020 – April 28, 2020. * Organic scope consists of all companies that were part of the Group as at 01/01/2020. Q1 2020 Results May 12, 2020. Webcast. ... deliver excellent results, ... We are proud to be named one of the top 700 Diversity Leaders 2020 of 10 000 public and private European companies analysed by the Financial Times. The Group’s objective is to provide its customers with high-quality and innovative services, accurate results on time and, when requested, expert advice by its highly-qualified staff. Receiving the AOAC Performance Tested MethodsSM status demonstrates Eurofins Technologies’ commitment to providing high quality test methods for its food safety customers. By having significantly contributed to develop and validate internationally a method that now has received the official standard status by AOAC, ISO and IDF, the Eurofins CCC demonstrates Eurofins’ commitment to providing high quality test methods for its food industry customers. It continues to expect to receive additional refunds over the coming months.

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