Plus   Neg

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."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The U.S. Food and Drug Administration said that it will rapidly work toward finalization and issuance of an emergency use authorization of Johnson & Johnson's (JNJ) single-shot COVID-19 vaccine candidate. Billionaire Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B) reported that its fourth-quarter net earnings attributable to shareholders rose 23 percent to $35.84 billion from last year's $29.16 billion, with earnings per share improving to $23,015 per Class A share from $17,909 per Class A share in the prior year. Walmart Inc. has launched a nationwide drive to boost COVID-19 vaccination rates by reaching out to more residents in vulnerable communities. The retail giant will organize a series of community events at 43 locations in 18 states to administer the COVID-19 vaccine. Walmart said it plans to continue these new events over the next several weeks as vaccine allocations allow.
Follow RTT