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Eurofins Fact Sheet

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Company overview

Eurofins is Testing for Life. The Eurofins network of companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

History

Eurofins Scientific was founded in 1987 with 3 employees and 1 laboratory to market a patented analytical method used to verify the origin and purity of several types of food and beverages and identify sophisticated fraud not detectable by other methods.

Today, the Eurofins Group is a leading provider of testing and analytical services with:

  • an international network of more than 900 laboratories in over 1,000 companies and 62 countries
  • around 62,000 staff
  • a portfolio of over 200,000 analytical methods
  • more than 450 million tests performed each year

2023 marked 26 years since Eurofins’ IPO on the Paris stock exchange on the 24th October 1997. On September 17th, 2021, Eurofins joined the CAC 40 index and has been, for almost three decades, one of the fastest growing listed European companies. Since its IPO, Eurofins’ revenues have increased by 30% each year (in compound average) to reach €6.5 billion in 2023. Furthermore, in the 26 years since its IPO to October 24th 2023, Eurofins has delivered a remarkable total shareholder return (reflecting both share price appreciation and reinvestment of dividends) of around 28,000%, equivalent to a compounded annual growth rate (CAGR) of over 24%. Among all companies with listings in major European exchanges over the 1997-2022 period analysed by a research firm, Eurofins ranked highest in terms of total shareholder return.

A commitment to innovation and sustainability

Since its foundation, Eurofins has contributed significantly to the advancement of science through Testing for Life. We are proud of the discoveries our specialists have made in a broad range of sectors, from food to pharma or forensics testing. Our laboratories around the world are helping to improve cancer treatments, catch criminals, safeguard the health of bees, ensure our food and water is safe, indicate paternity, protect transplant patients’ lives and combat viruses. Whether we are helping to improve health outcomes, ensure food safety or determine environmental impact, sustainability is at the heart of our work. To serve this purpose, Eurofins Sustainability Solutions brings together a wide range of Eurofins companies’ market-leading sustainability offerings and solutions in one place, to enable corporations, organisations and governments to contribute to product and enterprise sustainability. On the ground, we are working to become carbon neutral by 2025 through reduction and offsetting of carbon emissions. In 2023, Eurofins’ absolute carbon emissions declined by 8% vs 2022. In terms of carbon intensity relative to revenues, we are now 28% below the 2019 level. Eurofins has also committed to setting near-term science-based emission reduction targets in line with the Science Based Targets initiative (SBTi) Criteria and Recommendations. Lastly, the Eurofins Foundation supports charities and NGOs across the world, who share our goal of making the world a safer and healthier place for all.

Recent developments

Though the global economic outlook remains uncertain due to lingering inflationary pressures, higher interest rates and the ongoing war in Ukraine and the Middle East, Eurofins continued to demonstrate robust organic growth of 7.1% in its Core Business activities in 2023, above its 6.5% objective. Growth was particularly strong in North America, supported by the continued development of Environment Testing, Food Testing and BioPharma Services. In Europe, resilient Core Business organic growth was led by Environment Testing and a gradual improvement in Food Testing. Rest of the World was driven by strong performance in China, the steady expansion of BioPharma Services in India as well as new start-up laboratories in Australia and New Zealand.
Eurofins, through its activities, also continues to make meaningful contributions to Testing for Life. Leveraging artificial intelligence and its rich databases of reference samples, Eurofins Food Testing recently launched a rapid test to guarantee the authenticity of organic food products. We also further expanded our PFAS testing activities in Environment Testing and Food Testing as well as Clinical Diagnostics, where Eurofins is conducting blood testing on up to 75,000 residents living near a chemical production site in Belgium for the presence of PFAS. Furthermore, Eurofins Discovery LeadHunter® Services launched the obesityLITE panel, a one-of-a-kind set of 25 assays for testing anti-obesity therapies against multiple targets in one convenient screen. Eurofins Discovery also launched DiscoveryAI SAFIRE, an advanced platform that leverages proprietary datasets, artificial intelligence, and machine learning, offering a unique capability for expediting pharmaceutical product discovery.

Outlook

Looking ahead, having finalised the readjustment of our organisation in 2023 to the post-pandemic situation, our keys to long-term success remain unchanged: continued investment in building out our best-in-class hub and spoke laboratory network, continued excellence in customer service, further development and deployment of our sector-leading proprietary IT solutions and keen focus on scientific innovation. We also remain committed to a prudent capital allocation strategy centred on growth investments and reasonably valued bolt-on deals that will provide appropriate accretion to return on capital employed. In conjunction, we remain intently focussed on delivering on our 2027 financial objectives. In 2024, Eurofins teams will continue building on programmes initiated in 2023, in particular those aiming to accelerate digitalisation, productivity improvement, align pricing to cost inflation and ramp up our start-up activities. Despite the cloudy geopolitical and macro environment, we remain very confident in our ability to continue expanding our market and technological leadership, as well as our financial results and cash flow, towards our 2027 objectives.