Eurobio Scientific: 2022 sales down 17%.
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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