Core Viewpoint - Guerbet is experiencing a return to growth in Q3 2025, confirming all financial targets for the year, with expectations of continued improvement in Q4 2025 [1][12][13]. Financial Performance - Group sales for the first nine months of 2025 totaled €586.5 million, a decrease of 5.5% compared to the previous year. At constant exchange rates, sales fell by 3.1% [3][9]. - The third quarter showed a sequential improvement with sales growth of 2.6% at constant exchange rates and on a like-for-like basis, following declines of 7.1% and 3.9% in the first and second quarters, respectively [4][9]. - Revenue breakdown for Q3 2025: - EMEA: €86.2 million, up 10.2% at constant exchange rates - Americas: €58.8 million, down 10.7% at constant exchange rates - Asia: €53.7 million, down 4.4% at constant exchange rates [5][6][7]. Regional Performance - EMEA region sales for the first nine months were €255.8 million, down 2.3% at constant exchange rates, with a notable recovery in Q3 [5]. - Americas region revenue was €176.5 million, down 2.2% at constant exchange rates, with a significant decline in Q3 attributed to a weaker performance in Latin America [6]. - Asia region revenue totaled €152.4 million, down 4.3% at constant exchange rates, but showed positive growth of 1.5% in Q3 driven by strong sales in Japan [7]. Product Segment Performance - Diagnostic Imaging revenue for the first nine months was €508.0 million, down 4.0% at constant exchange rates, with a return to growth of 1.7% in Q3 [10]. - Interventional Imaging sales reached €76.7 million, reflecting a 6.0% increase at constant exchange rates, with Q3 growth of 8.8% driven by strong performance of Lipiodol [11][16]. Future Outlook - Guerbet anticipates a slight decline in revenue of around -1% for 2025, with an EBITDA margin expected between 12-13%. Free cash flow is projected to be slightly negative for the year [13]. - The company expects continued growth in Q4 2025, supported by the ramp-up of Elucirem and positive momentum in indirect sales across various regions [12][13].