Eurobio Scientific: Very Strong Growth of Business During the First Half of 2020

VERY STRONG GROWTH OF BUSINESS DURING THE FIRST HALF OF 2020Strong +111% growth of consolidated sales at € 62.2 million€ 31 million sales of tests and equipements related to the COVID-19 epidemic+6% growth of traditional business at € 31.2 millionParis, July 21, 2020 – 5:45 p.m.Eurobio Scientific (FR0013240934, ALERS, éligible PEA-PME), a leading French group in the field of in vitro medical diagnostics and life sciences, presents today its consolidated half-year turnover as at June 30, 2020.Very strong growth of +111% at € 62.2 millionDriven by strong sales of tests in the context of the COVID-19 epidemic, by the increase in sales for other infectious diseases, and by the stability of sales in transplantation and research products, the Group turnover increased by 111% reaching € 62.2 million in the first half of 2020. On a like-for-like basis, i.e. excluding the activities of Pathway Diagnostics in the United Kingdom and Ireland, the increase is +106%. This turnover will lead to strong growth in EBITDA, thus strengthening the group’s development capacities. It also confirms, through the resilience of traditional business, the strategy implemented for several years.“With COVID-19, our sales have grown spectacularly, exceeding the total annual figure for 2019 over the first half of the year. These exceptional sales, which continue in the second half of the year, strengthen our financial resources and allow us to pursue our external growth, which we started doing with the acquisition of TECOmedical. They also made it possible to increase our visibility and to be referenced by new customers, in France and abroad, “said Denis Fortier, Managing Director of Eurobio Scientific.The activity for the first half of 2020 is strongly driven by the Diseases division (diagnostic and treatments effectiveness monitoring tests for biology laboratories), which sales are growing very strongly to 49.0 million euros , about 79% of global sales, mainly thanks to sales of COVID-19 related tests and instruments (31 million euros, about 50% of total sales). Sales for the Transplantation division were stable at 10.2 million euros (around 16% of overall sales). In the Research Products division, sales grew very slightly to 3.0 million euros (around 5% of Group sales).Excluding sales related to COVID-19, traditional activity grew by +6%, in particular the disease division, which grew by around 10%.COVID-19 updateAs at June 30, 2020, the turnover related to sales of tests and instruments in the context of the COVID-19 epidemic amounted to 31 million euros. These sales are mainly driven by PCR tests for virus detection, both the Seegene range and the proprietary EBX 041 test. The increase in sales of serology tests was less than expected.Since the previous update, new contracts have been signed for EBX 041, in particular for export. These include among others major orders for several countries in the Middle East and North Africa.The impact of the epidemic on the group’s business continues through July. In addition, almost 40% more instruments were sold during the COVID crisis. These new instruments allow a much larger panel of tests to be performed and will thus have a significant longer-term impact by accelerating the growth of infectious diseases activity excluding COVID.Group development in EuropeAs part of its external growth strategy in Europe, the Group acquired in July 2020 TECOmedical, a group located in Germany, Switzerland, Austria and Benelux, and having achieved 7.2 million euros in turnover in 2019 of which around 12% in proprietary products.Eurobio Scientific is thus extending its marketing network in the main European countries for diagnostics and strengthening its expertise in the development of ELISA tests for research.The Group is now directly present in 9 European countries, thus increasing its capacity to market its proprietary products, and to extend its distribution areas outside France.Next financial meeting
2020 half-year results : October 15, 2020 About Eurobio Scientific  AttachmentPR_Eurobio Scientific_CA_S1_2020_EN