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Sanofi Q1 Profit Rises; Backs 2019 Business EPS Outlook - Quick Facts

French drug giant Sanofi SA (SNYNF,SNY) reported Friday that its net income attributable to equity holders for the first quarter of 2019 rose to 1.14 billion euros from last year's 1.02 billion euros, with earnings per share rising to 0.91 euros from 0.81 euros in the prior year.

Net income, excluding the held for exchange Animal Health business, increased to 1.15 billion euros from 1.05 billion euros in the prior year. Earnings per share, excluding the held for exchange AnimalHealth business, were 0.91 euros, up from 0.81 euros in the previous year.

First-quarter business net income increased 10.5 percent to 1.77 billion euros, and increased 9 percent at CER. Business earnings per share rose 10.9 percent to 1.42 euros on a reported basis, and increased 9.4 percent at CER.

Quarterly sales increased 6.2 percent to 8.39 billion euros from 7.90 billion euros in the year-ago quarter. At CER, company sales grew 4.2 percent.

Exchange rate movements had a positive effect of 2.0 percentage points mainly driven by the U.S. dollar, which largely offset the negative impact from the Argentine Peso, Turkish Lira, Brazilian Real and Russian Ruble.

Looking ahead to fiscal 2019, Sanofi said it continues to expect business earnings per share to grow between 3 percent and 5 percent at CER, barring unforeseen major adverse events. Applying the average April 2019 exchange rates, the company estimates the currency impact on 2019 business earnings per share to be around 2 percent.

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