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 Group’s 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 Group’s 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 Group’s 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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Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine Months or Full Year) - non-IFRS measure calculating the growth in revenues during that period between 2 successive years for the same scope of businesses using the same exchange rates but excluding discontinued operations.

For the purpose of organic growth calculation for year Y, the relevant scope used is the scope of businesses that have been consolidated in the Group's income statement of the previous financial year (Y-1). Revenue contribution from companies acquired in the course of Y-1 but not consolidated for the full year are adjusted as if they had been consolidated as from 1st January Y-1. All revenues from businesses acquired since 1st January Y are excluded from the calculation.

Notes for the editor:

Eurofins – a global leader in bio-analysis

Eurofins believes it is the world leader in food, environment and pharmaceutical products testing and that it is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics and discovery pharmacology and for supporting clinical studies. In addition, Eurofins is one of the significant emerging players in specialty clinical diagnostic testing in Europe and the USA.

With 25,000 staff in more than 250 laboratories across 39 countries, Eurofins offers a portfolio of over 130,000 validated analytical methods for evaluating the safety, identity, composition, authenticity, origin, traceability and purity of biological substances and products, as well as for innovative clinical diagnostic. 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 and healthcare practitioners 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.