Guerbet reports Q1 2021 revenue decline
Guerbet, a specialist in medical imaging contrast agents and solutions, reported its first-quarter 2021 revenue, showing a decrease impacted by currency fluctuations. Activity showed gradual improvement.
Villepinte, France – Guerbet, a global specialist in contrast agents and solutions for medical imaging, announced its revenue for the first quarter of 2021, reporting €176.3 million. This represents an 11.5% decrease compared to the same period in 2020, with adverse currency effects amounting to approximately €10 million.
When adjusted for currency fluctuations (CER, constant exchange rates), revenue declined by 6.5%. Excluding sales from the Montreal site, which was divested in July 2020, Guerbet's revenue at CER decreased by a more modest 3.0% compared to Q1 2020, before the full impact of the health crisis was felt.
Geographically, the EMEA region saw a gradual improvement in activity as the health situation normalized. In the Americas, like-for-like sales (excluding the divested Montreal site) dropped by 17.1%, also impacted by unfavorable forex rates for the Brazilian real and US dollar. Asian sales saw a slight increase of 1.7% at CER, driven by robust performance in China and Japan.
Diagnostic Imaging sales decreased by 5.4% at CER, although this marked an improvement from the fourth quarter of 2020. The sector continues to be affected by the health crisis, leading to postponements of examinations and non-essential procedures. MRI sales were down 5.1% and X-ray sales were down 5.6% at CER, despite good performance from Xenetix®.
In contrast, Interventional Imaging sales showed strong dynamism, increasing by 19.0% at CER to reach €22.9 million, primarily driven by Lipiodol®. Guerbet has maintained its 2021 objectives, anticipating a return to revenue growth starting in the second quarter.