Guerbet Reports 3.5% Revenue Growth for 2019, Navigates COVID-19 Uncertainty
Medical imaging specialist Guerbet announced its 2019 annual results, showing a 3.5% increase in revenue to €816.9 million. The company plans to continue its value-creation strategy in 2020 while preparing for COVID-19 related uncertainty.
Villepinte, France – Guerbet, a global leader in medical imaging, has reported its consolidated annual results for 2019, marking a 3.5% increase in revenue to €816.9 million. At constant exchange rates, revenue grew by 2.0%.
The company’s EBITDA reached €111.5 million. A significant improvement in free cash flow was observed, reaching €28.3 million, driven by a reduction in inventories. Net debt decreased to €280.5 million, excluding the impact of IFRS 16 accounting standards.
The Diagnostic Imaging segment saw revenue grow by 3.0% at constant exchange rates to €711.0 million, with CT/Cath Lab products showing a 5.2% increase. The Interventional Imaging segment, now representing over 9% of the Group's revenue, experienced a 12.5% growth.
Guerbet outlined its 2020 strategy, focusing on continued growth in Interventional Imaging, savings from its "Cost to Win" plan, and the finalization of gadopiclenol phase III trials. The company acknowledged the uncertainty posed by the COVID-19 epidemic, although its impact on Guerbet's activity has been minor to date.