- October 22, 2020
- Posted by: Bastion team
- Category: Markets
Today, Eurofins Scientific, a world leader in Testing for Life, employing 50,000 people in 800 laboratories in 50 countries published its Q3 trading statement and on this occasion set new objectives for 2022: https://www.eurofins.com/media-centre/press-releases/2020-10-22/
- Q3 2020 revenues increased 21.0% year-on-year to EUR 1,413m vs. EUR 1,167m in Q3 2019. 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.
- Organic growth was very strong at +22.7% in Q3 2020 and +11.1% over NM 2020.
- Despite 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. Many of Eurofins’ core businesses across Food, Environment and BioPharma testing achieved more than 5% organic growth in Q3 2020.
- 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. As an example of Eurofins’ agility and the strength of its R&D teams, a Eurofins company just received an Emergency Use Authorization (EUA) from the U.S. Food and Drug Administration (FDA) for their At Home COVID-19 Nasal PCR Test. 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. Other developments in the fight against COVID can be found here: https://www.eurofins.com/covid-19-response/
- Hopefully, the pandemic will be brought under control by 2022. The Group is thus introducing 2022 objectives excluding any COVID-19 testing and clinical reagent revenues: EUR 5.7bn revenue, EUR 1.35bn adjusted EBITDA and EUR 800m Free Cash Flow to the Firm (FCFF), and is optimistic about continued 5% organic growth and margin and FCFF increases beyond this. 2020 and 2021 objectives were unchanged but actual results could be significantly higher, especially in 2020.
About Eurofins – the global leader in bio-analysis
With over 50,000 staff across a network of more than 800 laboratories in over 50 countries, Eurofins’ companies offer a portfolio of over 200,000 analytical methods.
Eurofins Shares are listed on Euronext Paris Stock Exchange.
Bastion Balance Seoul, Korea.