Guerbet Reports 2.8% Revenue Growth for First Half of 2019
Guerbet announced first-half 2019 revenues of €400.6 million, a 2.8% increase year-over-year. The medical imaging specialist confirmed its full-year financial objectives.
Guerbet, a global specialist in contrast agents for medical imaging, reported its consolidated results for the first half of 2019. The company's revenue reached €400.6 million, representing a 2.8% increase compared to the same period last year. At constant exchange rates, revenue stood at €396.5 million, up 1.8%.
Revenue from Diagnostic Imaging activities grew by 2.2% to €351.9 million at constant exchange rates. While MRI activity saw a modest 1.8% increase amidst generic competition and product withdrawal, CT and Cath Lab revenue rose by 2.5% driven by strong sales of Optiray.
The Interventional Imaging segment, a key growth driver for Guerbet, experienced a significant 15.9% revenue increase, reaching €33.8 million at constant exchange rates. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) amounted to €61.6 million, a 3.3% rise. This figure reflects substantial investments in future growth, including the transition to direct distribution in Japan and development costs for gadopiklenol.
Net income for the first half was €19.0 million, down from €22.4 million in the prior year. Guerbet reiterated its 2019 outlook for moderate sales growth and improved inventory levels. The company also successfully refinanced its debt in February 2019 with a €500 million credit facility.