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Luxembourg : Over 10% organic growth in the first nine months of 2016.

Revenues grew 25% in Q3 2016 to EUR 629m, bringing revenues in the first nine months of 2016 (NM 2016) to EUR 1,837m, a 36% increase compared to NM 2015.

Organic growth in NM 2016 was over 10% as the Group continued to exceed its 5% organic growth objective in the third quarter, despite strong comparable growth in Q3 2015.

Year to date, Eurofins has completed 24 acquisitions for total annualised revenues of over EUR 190m. Growth trends remain positive in most of Eurofins businesses and geographies.

Comments from the CEO, Dr. Gilles Martin: Eurofins performance in the first nine months of 2016 reflects the continued positive trends as well as the Groups increasing scale in many of its markets. The strength in underlying fundamentals, in addition to the expected benefits from our Group-wide investment programs and M&A opportunities, remain supportive of Eurofins positive future development towards its EUR 4bn 2020 revenue objective. Having significantly reduced its leverage in Q2 and Q3 of 2016 through two equity offerings, Eurofins is very well positioned to take advantage of opportunities in its markets, but intends to remain conservative and long-term oriented in its investments.

Organic growth remained well above Group objective in the third quarter, despite the strong comparable organic growth in the same period in 2015, when organic growth started to accelerate significantly. For NM 2016, organic growth remained robust in most of the Groups businesses, notably in North America, which now comprises 32% of Group revenues, where double-digit organic growth is underpinned by industry tailwinds. In France, organic growth remains well above Group objective despite the inclusion of the clinical testing scope, which has a different growth profile. The double-digit organic growth in Germany is a demonstration of the benefits of the Groups scale in this market. Overall, the strong performance year to date allows the Group to remain very positive about its medium-term outlook.

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Publication:Mena Report
Date:Oct 21, 2016
Words:330
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