Eurofins achieves almost 30% revenue growth in Q1 2015

• Q1 revenues increased 29.4% year-on-year to EUR 394m.
• The Group achieved organic growth of close to 6% despite the strong comparable growth of over 8% in the same period last year, and the continued economic headwinds in some of the markets where we operate.
• Strong growth in the US (up over 63% at constant exchange rates), which made up close to one-third of total Group revenues during the quarter, as rapid expansion continues.
• Growth trends remain positive in most of Eurofins' businesses and geographies.

Comments from the CEO, Dr. Gilles Martin: "The results achieved in the first quarter show that we are off to a good start in 2015. Positive trends in our industry, in addition to the benefits of our ongoing network investments, allow us to drive revenue growth above our objectives. This continued strong performance reinforces our confidence that our objective of exceeding EUR 1.6bn in revenues and EUR 300m in adjusted EBITDA this year should be easily achieved. The Group will provide an update of its 2015 objectives at the half year results publication."

Eurofins started the year positively, generating robust growth rates across most of its geographies. In the first quarter, the Group achieved revenues of EUR 394m, representing growth of 29.4% over Q1 2014, about 6% of which was organic. Currency impact was over 5%, with the remainder made up of contribution from acquisitions. The strong organic growth during the quarter is all the more notable given the strong comparable results in Q1 2014, and the residual impact of our reorganization activities, the most significant part of which were completed at the end of 2014.

The US (33% of Group revenues in Q1) continues to generate organic growth well above Group average, on strongly positive trends across all businesses. France and Germany (14% of Group revenues each) both generated robust growth despite the residual impact of reorganization in the Group's French water-testing business completed last year, and the mature testing market in Germany. The high single-digit organic growth achieved in the UK & Ireland (6% of Group revenues) was primarily on the back of strong performance in food and pharmaceutical testing activities. Growth in the Nordic countries was somewhat muted, although the recently-completed reorganization and site consolidation in Denmark should result in a resumption of growth going forward. Results from the Benelux were impacted by the absence of revenues from agricultural soil testing derogation activities in The Netherlands, which is a 4-year interval business, and which will therefore only recur in 2018. Our businesses in Asia Pacific and emerging markets continue to post double-digit growth as we continue to develop our footprint in these geographies.    

Overall, the strong performance in a seasonally weaker first quarter allows the Group to remain strongly positive about its medium-term outlook.

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Notes for the editor:

Eurofins - a global leader in bio-analysis

Eurofins Scientific is the world leader in food and pharmaceutical products testing. It is also number one in the world in the field of environmental laboratory services and one of the global market leaders in agroscience, genomics, discovery pharmacology and central laboratory services.

With over 17,000 staff in more than 200 laboratories across 36 countries, Eurofins offers a portfolio of over 130,000 reliable analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products. The Group provides its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.

Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods.

As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients' increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.

The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgement of Eurofins Scientific’ management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity.