Eurofins reports strong Q3

By Joseph James Whitworth contact

- Last updated on GMT

Revenues increased 18.6% and organic growth was 5.5%
Revenues increased 18.6% and organic growth was 5.5%

Related tags: Revenue

Eurofins has reported increased revenues in the third quarter despite economic uncertainty and business reorganisation programs.

Revenues rose 18.6% year-on-year to €370m representing growth of 14.9% over the same period last year.

The US, Eurofins’ largest market generating 24% of revenues, achieved organic growth above objective despite reorganization of the central laboratory and discovery pharmacology businesses.

In Europe, Germany (17% of group revenues) continues to be a major growth driver, generating over 10% revenue growth.

In France, the impact of IPL restructuring was partially offset by strong performance in food testing and other areas of environmental testing.

Strong growth in emerging markets and the Asia Pacific region were muted by currency headwinds.

During the third quarter, Eurofins completed five acquisitions including ViraCor and Anatech, bringing transactions to 14 in the first nine months of the year.

Dr Gilles Martin, CEO, said despite the growing economic uncertainty in some countries where it is active, demand remains strong for services.

“For the businesses that required it, we have also been able to make good progress in the reorganization programmes that will ensure long-term competitiveness," ​he said.

“In spite of these reorganizations of a few businesses and the associated contracts terminations we initiated, Eurofins still managed to generate organic growth above our objective.”  

Related topics: Food Safety & Quality

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