Eurobio Scientific: FISCAL YEAR 2023, STRATEGIC TRANSFORMATION OF THE GROUP

FISCAL YEAR 2023, STRATEGIC TRANSFORMATION OF THE GROUP

• Continued total year growth in core business revenues, up 39%
• Successful deployment of the Group’s strategy:
  • Proprietary products up at 30% of revenues
  • Internationalization, with 38% of revenues now generated outside of France
• Acquisition of DID in Italy effective as of July 1^st, 2023
• Acquisition of Alpha Biotech, GenDx distributor, effective as of January 3^rd, 2024

Paris, January 30, 2024 – 5:45 pm

Eurobio Scientific (FR0013240934, ALERS, PEA-PME eligible), a leading French group in in vitro specialty medical diagnostics and life sciences, today presents its consolidated annual revenues for the period ending December 31, 2023.

Strong growth of core business at +39%

Eurobio Scientific recorded revenues of €130.1 million for its core business at the end of 2023. Activities linked to the detection of COVID are now integrated to the core business (respiratory panels) and represent approximately €6 million for 2023.
In 2022, the Group generated sales of €152.6 million. Excluding non-recurring sales from the COVID business (€59.1m), growth for 2023 therefore reached +39%.

On a comparable proforma basis, i.e. excluding perimeter effects linked to acquisitions and non-recurring items, growth of the core business remained dynamic, at +12%.

Successful deployment of the Group’s strategy

The Group is successfully pursuing its strategy of targeted geographic and technological expansion, with the ambition of becoming a major international company in the specialty diagnostics market, providing its customers with a comprehensive molecular diagnostics offering, including its own solutions and those of its partners.

• Share of proprietary products at 30% of revenues

The share of proprietary products represents 30% of revenues (compared to 18% of core revenues in 2022), thanks in particular to the contribution of GenDx, consolidated in the Group’s financial statements as of October 1^st, 2022.

• Continued international expansion

International sales represents 38% of 2023 revenues (against 25% of core business revenues in 2022). This increase is mainly due to the new acquisitions made over the past year in Belgium (BMD), the Netherlands (GenDx) and Italy (DID) as well as increasing cross-selling of the Group’s own products.

Integration and international strategy continues in 2024 with the acquisition of the UK company Alpga Biotech that has been the distributor of GenDx for more than 20 years.

Outlook

With the confirmation of the strategic priorities chosen over the last few years, the Eurobio Scientific Group will continue to expand on its three pillars: development of proprietary products, internationalisation and new markets expansion.

Next financial meeting
2023 annual results : April 10, 2024, after market closes

Attachment

• 20240130_PR_EurobioScientific_CA_TY_23_EN