Eurobio Scientific announced last night that it had posted sales of 152.5 million euros for the 2022 financial year, down 17% on 2021.

The in vitro diagnostics and life sciences specialist points out that its core business - which excludes Covid-related activities - grew by 15% last year, driven by the acquisitions of BMD (Belgium) and GenDx (Netherlands).

On a like-for-like basis, the core business grew by 5%.

Covid sales were down 42% year-on-year to €59.1 million, due to a sharp drop in prices and test volumes.

Covid now accounts for only 39% of sales, compared with 56% in 2021.

With cash in excess of 85 million euros at the end of 2022, and net financial debt of less than 30 million, Eurobio Scientific claims to have a financial structure that will enable it to pursue its investments and seize any acquisition opportunities.

In a reaction note, analysts at Invest Securities hail a decline in 2022 sales 'more measured thanks to acquisitions', recalling that Biosynex revenues fell by 49% in comparison with last year, including a 60% drop for Covid-related activities.

Listed on the Paris Bourse, Eurobio Scientific shares climbed over 6% following the release of these figures.

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