Guerbet Reports 2.8% Revenue Growth in First Half of 2023 Driven by Diagnostic Imaging

Guerbet, a global specialist in contrast agents and solutions for medical imaging, reported its first-half 2023 revenue at €378.6 million, marking a 2.8% increase compared to the same period in 2022 when measured at constant exchange rates. The company experienced a notable acceleration in activity during the second quarter, with a 6.7% rise, following a slight decline in the first quarter. Guerbet confirmed its financial objectives for the full year, anticipating revenue growth of over 5% and a restated EBITDA margin of approximately 11%.

The growth was substantially supported by the Diagnostic Imaging segment, which saw a 3.3% increase at constant exchange rates. Within this segment, Magnetic Resonance Imaging (MRI) grew by 3.2%, and X-ray imaging increased by 3.4%. This performance benefited from initial sales of the new EluciremTM product and the consolidation of Intrasense, acquired earlier in the year. The Interventional Imaging segment experienced a slight decrease of 1.1% at constant exchange rates but is projected to achieve robust growth for the full year.

Geographically, Guerbet saw strong performance in the EMEA region, with sales up 7.8%, and in Asia, where sales rose by 16.6% at constant exchange rates, driven by Japan and China. Conversely, sales in the Americas region declined by 15.3% at constant exchange rates, a trend that was anticipated by the company and attributed to customer portfolio optimization and production adjustments related to the EluciremTM launch.

The company also highlighted progress in its artificial intelligence roadmap, securing a majority stake in Intrasense. Furthermore, Guerbet finalized the refinancing of its group debt in July. The company anticipates a stronger second half of 2023, supported by the positive trajectory of its product launches and strategic initiatives.