BioMérieux S.A. Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
January 19, 2017 at 01:01 am
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bioMérieux reported consolidated sales results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported total consolidated sales of €591.5 million against €553.1 million a year ago. Organic growth remained solid in fourth-quarter 2016, as sales gained 7.8% on the prior-year period. Continued good sales momentum in the Americas and an upward trend in Europe offset the expected decline in the Asia-Pacific region following its strong fourth-quarter 2015 performance. Asia-Pacific sales were consequently more evenly distributed from quarter to quarter. FilmArray made another strong contribution to growth in fourth-quarter 2016. Business growth was chiefly spurred by sales of reagents and services.
For the year, the company reported consolidated sales amounted to €2,103 million in 2016, versus €1,965 million in 2015. Year-on-year organic sales growth (i.e., at constant exchange rates and scope of consolidation) outperformed objectives at 9.6%, led by an acceleration of around 500bp driven by FilmArray sales. In a volatile currency environment, reported sales growth came to 7.1%, held back by a negative currency effect of around €33 million, as well as the change in scope resulting primarily from the deconsolidation of bioTheranostics as of January 1, 2016. At December 31, 2016, net debt amounted to €275 million, including €42 million in debt under the finance lease relating to the extension of the Marcy l’Étoile (France) site after it was delivered in third-quarter 2016 (€219 million at end-2015).
bioMérieux designs, develops, produces, and sells systems used in clinical practice to diagnose infectious diseases (including HIV, tuberculosis, and respiratory infections), cancers, and cardiovascular pathologies based on a biological sample (blood, saliva, urine, etc.). Net sales break down by sector of application as follows:
- medical applications (84.4%): in industry, microbiological testing of samples from finished products, materials during the manufacturing process, or the environment, primarily in the food-processing, pharmaceutical, and cosmetics sectors;
- industrial applications (15.6%).
The group's diagnostic systems consist of three elements with related services: reagents, instruments (or platforms or analyzers), software, and services.
Net sales are distributed geographically as follows: Europe/Middle East/Africa (32.4%), North America (44.1), Asia/Pacific (17.3%) and Latin America (6.2%).