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Eurofins Q4 Organic Revenue Climbs; Says Outlook Remains Strong For 2021, Beyond

Eurofins Scientific (ERFSF.PK) reported Monday that its organic revenue growth was close to 40 percent in the fourth quarter, and close to 20 percent in fiscal 2020.

The company expects fourth-quarter organic growth rate of core business, excluding COVID-19 clinical reagents and testing revenues, of 5 percent.

For the year, revenues were in excess of 5.4 billion euros, after continued momentum in December across both its core business and covid-19 related activities.

The company noted that December 2020 trading performance has been strong in both core business, excluding COVID-19 clinical reagents and testing revenues, and in COVID related activities, building further on October and November's momentum.

Despite the impact of further lockdowns in many geographies, core business continues to demonstrate its resilience and quick return to long term growth rates. The company projects positive organic growth of core business for the year.

Full-year results will be announced on March 1.

Looking ahead, the company said its business outlook remains strong for 2021 and beyond.

CEO Gilles Martin said, "2021 has started well and the resilience of our core business, outside of COVID-19 activities, underpins our confidence for the years ahead. Laboratory testing has shown its potential as a key tool to fight the pandemic. Beyond the pandemic, it may gain increased relevance in supporting society towards many of its other objectives going forward."

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