(Boursier.com) — The turnover published over 9 months reached 4,821 ME at Eurofinsdown 4.2% compared to the 9 months of 2022, due to the sharp year-on-year drop in revenues from COVID-19 tests and reagents (around 20 ME over the 9M 2023 compared to almost 540 ME over 9M 2022), a negative exchange rate impact (-1.6%) and one less public working day over 9 months in 2023.
After adjusting for one less public working day in the first 9 months of 2023 (compared to the first 9 months of 2022) and the third quarter of 2023 (compared to the third quarter of 2022), the organic growth in revenue Core Business revenue (excluding COVID-19 clinical testing and reagent revenue) was 7.3% in the first 9 months of 2023 and 7.6% in Q3 2023.
The third quarter of 2023 marks the first quarter since the start of the COVID-19 pandemic where, adjusted for the negative impact of foreign exchange (1,592 million euros without 2023 acquisitions in the third quarter of 2023 compared to 1,561 million euros in third quarter 2022), core business revenue more than offset year-over-year revenue declines from COVID-19 tests and reagents.
The improvement in organic growth in Europe (9 months 2023: 5.8%, Q3 2023: 6.9%) was driven by environmental testing and a gradual improvement in food testing.
Organic growth in North America (9M 2023: 9.5%, Q3 2023: 9.4%) remained resilient, supported by the continued strong development of environmental testing, food testing and biopharmaceutical product testing.
Organic growth in the Rest of the World (9M 2023: 5.2%, Q3 2023: 5.2%) remained at a solid level, driven by various activities such as BioPharma Services in India and new laboratories in Australia and in New Zealand.
Start-ups contribute 0.7% to organic growth over 9M 2023, with 34 new start-up laboratories and 30 blood sampling points opened over the period.
Given the uncertain economic and geopolitical outlook, Eurofins is approaching acquisitions even more cautiously than before and is focusing on complementary operations that will bring an appropriate increase in return on capital employed…
Eurofins Discovery’s recently launched DiscoveryAI tool accelerates drug discovery using artificial intelligence. Leveraging Eurofins Discovery’s high-quality proprietary dataset of over 2,500 compounds and over 1 million records collected over more than 10 years, the DiscoveryAI tool provides valuable data analytics to customers of ‘Eurofins Discovery with the potential to reduce drug time to market by at least 20%.
Eurofins finally confirms its objectives for the financial years 2023 to 2027 as announced during the presentation of the first half results on July 26.