Eurobio Scientific's revenues increased by 24% in first half 2024, stable profit and debt

From GlobeNewswire: 2024-09-24 12:00:00

Eurobio Scientific’s revenues for the first half of 2024 increased by 24% to €73.1m compared to the previous year, with a 12% growth on a like-for-like basis. The company reported stable adjusted EBITDA and operating profit, with net financial debt slightly down to €1.6m and cash position at €86.6m. A voluntary takeover bid has been proposed.

The growth in revenues was primarily driven by recent acquisitions, including One Lambda, GenDx, and France. Despite challenges such as the Covid and Pertussis epidemics, the Group posted a €6.9m increase in sales. Adjusted EBITDA remained stable at €13.9m, with marketing and sales expenses increasing by 53%.

Operating profit was steady at €11.2m, with a slight decrease in gross margin rate to 46%. Research and development expenses decreased slightly, while marketing and sales costs rose. The Group generated a free cash flow of €6.3m in the first half and had a net financial debt of €1.6m. Eurobio Scientific’s outlook focuses on the development of proprietary products and international expansion.

A consortium led by Denis Fortier, NextStage AM, and IK Partners has proposed a voluntary tender offer for Eurobio Scientific shares. The company, a key player in specialty in vitro diagnostics, operates in fields like transplantation, immunology, and infectious diseases. Eurobio Scientific has approximately 290 employees and four production units across different countries.



Read more at GlobeNewswire:: RESULTS FOR THE 1ST HALF OF 2024