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].

Core Insights - Guerbet reported a revenue of €387.8 million for H1 2025, reflecting a decline of 5.4% at constant exchange rates (CER) and on a like-for-like basis, primarily due to reduced activity in France [2][5][6] - The restated EBITDA margin decreased to 12.9% from 15.4% a year earlier, indicating a decline in profitability [2][14] - The company has revised its full-year 2025 financial targets downward due to ongoing challenges in the French market and pricing pressures [18][22] Financial Performance - Group sales for H1 2025 were €387.8 million, down 7.5% compared to H1 2024, with a more significant decline in the first quarter (-7.1%) compared to the second quarter (-3.9%) [5][6] - The EMEA region's revenue was €169.6 million, down 7.7% at CER and like-for-like, while excluding France, revenue grew by 6.9% [7] - Diagnostic Imaging revenue was €334 million, down 6.8% at CER and like-for-like, while Interventional Imaging sales increased by 4.6% [8][9] Profitability and Costs - The EBITDA margin for H1 2025 was reported at 11.9%, down from 14.6% in the previous year, with operating costs tightly controlled [14] - Operating income decreased to €15.0 million, representing 3.9% of revenue, compared to 7.2% in H1 2024 [13] - Net income for the period was €1.3 million, significantly lower than €10.0 million in the previous year [13][35] Cash Flow and Debt - Free cash flow was negative at -€8.4 million but showed improvement from -€29.1 million in H1 2024, attributed to better working capital management [17] - Net debt decreased to €353.3 million from €364.9 million a year earlier, with stable gearing at 0.94 [16] Strategic Outlook - The management has taken measures to safeguard product availability and optimize the cost base while monitoring cash generation closely [20] - The company remains confident in its prospects, supported by a diversified product portfolio and strong positions in international markets [21] - The upcoming Q3 2025 revenue publication is scheduled for October 23, 2025 [24]

Core Insights - Guerbet reported a total revenue of €387.8 million for the first half of 2025, reflecting a decrease of 7.5% compared to the same period in 2024, with a negative foreign exchange impact of €8.0 million [4][9][15] - The company confirmed its full-year revenue growth target of 3-5% at constant exchange rates and on a like-for-like basis, anticipating a recovery in the second half of the year driven by normalization in France and growth in specific products [15][16][17] Financial Performance - Group sales for H1 2025 were €387.8 million, down 7.5% from H1 2024, with a 5.6% decline at constant exchange rates (CER) [4][9] - Revenue breakdown by region showed EMEA sales at €169.6 million (-7.4%), Americas at €124.6 million (-5.5%), and Asia at €98.6 million (-9.1%) [5][8] - Diagnostic Imaging revenue decreased by 8.8% to €334.0 million, while Interventional Imaging saw a growth of 3.5% to €51.9 million [11][13][14] Geographical Insights - In EMEA, revenue fell by 7.7% at CER, primarily due to a decline in France, which was affected by distribution channel reforms; excluding France, EMEA grew by 6.9% [7] - The Americas maintained stable sales at CER, attributed to solid volume growth despite price pressures [8] - Asia experienced a decline of 7.3% at CER, although the second quarter showed a positive trend with a 1.2% increase [8] Future Outlook - The company expects double-digit growth in H2 2025, driven by a favorable comparison base and the normalization of activity in France [9][16] - Continued proactive cost management and a positive product mix are anticipated to support profitability, with a restated EBITDA margin expected to exceed 15% [17]