2022 TURNOVER OF €152.5M
15% CORE BUSINESS GROWTH AT €93M
• Growth of proprietary products reaching 18% of core revenues1
• Internationalization of the Group at 25% of core revenues1
• Core business now representing 60% of Group turnover
• Continued development with net debt limited to less than €30 million
Paris, January 23, 2023 – 5:45 pm
Eurobio Scientific (FR0013240934, ALERS), a leading French group in in vitro medical diagnostics and life sciences, today presents its consolidated annual revenue as of December 31, 2022.
Strong growth in core business (excluding COVID)
Eurobio Scientific recorded revenue of €152.5 million for the 2022 financial year, split between its core business, excluding COVID, for €93.4 million and exceptional activities related to COVID for €59.1 million.
The core business recorded significant growth of 15%, and benefited from the first effects of the acquisitions of BMD (Belgium) and GenDx (Netherlands). On a constant scope basis, growth is +5%.
COVID activity now represents only 39% of consolidated revenue (compared to 56% in 2021), in a market driven by a sharp drop in sales prices and test volumes.
The share of proprietary products in the core business increased to 18% of sales, compared to 14% the previous year.
|Core (excl. COVID)
A business portfolio with higher added value
The strong growth of the core business, at +15%, reflects both the dynamism of historical activities, the development of new activities and the reallocation of the distribution portfolio.
New activities are driven on the one hand by the strengthening of R&D and partnerships, but above all by the acquisitions made in 2022. In this respect, BMD, acquired in June 2022, makes it possible to extend the distribution of diagnostic products to the Benelux zone. GenDx, acquired on October 1, 2022, brings a range of 100% proprietary products among the most efficient in the field of HLA2 diagnostics, as well as next-generation genomic sequencing technologies bringing numerous synergies.
Excluding the contribution of BMD and GenDx, the core business grew by 5% including the strategic reallocation of the distribution portfolio which resulted in the termination of certain low-margin distribution contracts, which represented several million euros of turnover in 2021.
This strategic reallocation of the distribution portfolio is for the benefit of new partnerships aimed at making innovative products with a strong impact available in France for healthcare professionals and patients. The Group has thus taken over the exclusive distribution in France of the HIV self-test from the US company Orasure, signed partnerships with Alcor, Technoclone and SD Biosensor laboratories for distribution in the field of “Point of Care” proximity tests, and in the field of connected biology based on artificial intelligence.
COVID sales supported by an extension of the product portfolio
As expected, the COVID activity proved resilient in a market whose decline accelerated in the second half of the year. Corresponding revenue shows an annual decline of 42% driven by a sharp reduction in prices and volumes. At €59.1 million, the COVID activity represents 39% of revenue in 2022.
Thanks to a highly responsive innovation strategy and go-to-market capabilities, sales of new proprietary COVID tests continued. Eurobio Scientific has introduced more than 10 proprietary tests since 2021 as the different variants of the virus have spread. The expertise of the R&D teams, the mastery of regulatory affairs demonstrated by the company’s ISO 13485 recertification under the new IVDR3 framework, and a high-capacity production tool, all enable the Group to support laboratories in almost real time.
Eurobio Scientific has remained one of the main French players in the diagnosis of COVID, and benefits, thanks to its privileged relations with its partners, from a vast park of installed instruments, capable of processing a multitude of tests. At the start of the year, a part of this business segment relies on the proprietary EBX 042 FluCoSyn™ test (COVID/influenza/RSV triplex), which Eurobio Scientific introduced in September 2020. The COVID segment is therefore becoming a core business routine activity.
International now represents more than 25% of the turnover generated by the core business, while it still only partially includes the sales of BMD and GenDx, acquired in 2022.
Net debt of less than €30m after acquisition of GenDx
At the end of 2022, Eurobio Scientific’s cash position was over €85 million, for a net financial debt of less than €30 million.
After completing the structuring acquisition of GenDx, Eurobio Scientific retains a financial structure allowing continued investments and the ability to seize possible acquisition opportunities.
Next financial meetings
2022 results: April 5, 2023, before market opens
Annual shareholders’ meeting : June 12, 2023 at 9am
Half-year 2023 sales : July 24, 2023, after market closes
Half-year results : October 11, 2023, after market closes
|About Eurobio Scientific
Eurobio Scientific is a key player in the field of specialty in vitro diagnostics. It is involved from research to manufacturing and commercialization of diagnostic tests in the fields of transplantation, immunology and infectious diseases, and sells instruments and products for research laboratories, including biotechnology and pharmaceutical companies. Through many partnerships and a strong presence in hospitals, Eurobio Scientific has established its own distribution network and a portfolio of proprietary products in the molecular biology field. The Group has approximately 250 employees and four production units based in the Paris region, in Germany, in the Netherlands and in the United States, and several affiliates based in Dorking UK, Sissach Switzerland, Bünde Germany, Antwerp Belgium and Utrecht in The Netherlands.
For more information, please visit: www.eurobio-scientific.com
The company is publicly listed on the Euronext Growth market in Paris
|Group Eurobio Scientific
Denis Fortier, General Manager
Anne-Sophie Herelle, CFO
Tel. +33(0) 1 69 79 64 80
Tel. +33(1) 53 65 68 68 [email protected]
1 Turnover generated by core business (excluding COVID), unaudited
2 Human Leukocyte Antigen
3 In Vitro Diagnostics Regulation, new European regulation that became effective in May 2022
Confluence former executive joins fintech Premialab
James Carrington, a former executive at Confluence, Investment Metrics, Style Analytics has joined fintech Premialab. He brings extensive client engagement expertise in investment analytics and data for the institutional investment community.
LONDON, Feb. 27, 2024 /PRNewswire/ — Premialab, the financial data and analytics firm, announced today the appointment of James Carrington as Head of Client Engagement. Mr. Carrington, based in London, will spearhead global client engagement, leveraging over 10 years of experience in driving client engagement gained at Investment Metrics, Style Analytics, and most recently at Confluence, part of the Clearlake Capital Group portfolio. His primary focus will be on enabling faster tailor-made investment analytics delivery and data integration for Premialab’s pension funds, foundations, endowments, and insurance clients.
Adrien Geliot, Co-Founder & Chief Executive Officer of Premialab, said, “I am delighted to welcome James to the team. His appointment confirms our commitment to delivering first-class service to our customers across global locations. His experience in maximizing the value derived from investment analytics will be invaluable in serving our clients as we continue scaling our activities worldwide.”
Commenting on his appointment, James Carrington said, “I am delighted to have joined the Premialab team. Their innovative solution makes a real difference to institutional investors looking at quant investments. The evolution of Premialab over the last number of years has been something that I have followed closely, and I am looking forward to working with the team to further support our customer base across our established and emerging demographics.”
The announcement follows recent senior appointments at Premialab, including Philippe Jacson, former BNP Paribas, Merrill Lynch and MSCI executive; Daniel Fields, former Global Head of Markets at Societe Generale; John Macpherson, former Managing Director at Goldman Sachs, Citibank, and Nomura; Marc Fisher, former Managing Director at Citibank with a prior position at Deutsche Bank; and Georgios Sittas, former Managing Director at HSBC, Standard Chartered, and previously a director at Lehman Brothers.
Recognized as the reference for data and risk analytics on quantitative strategies, Premialab’s capital markets infrastructure is currently used by leading asset managers, insurance companies and pensions funds, accelerating their digitalization and enhancing performance and risk control while reducing costs. The platform’s client AUM is representing an estimated USD$10 trillion.
Premialab is an independent platform providing data, analytics and risk solutions on systematic and factor-based strategies in collaboration with leading investment banks and institutional investors globally. Combining intelligent technology with a unique source of information the platform empowers asset allocators to make better investment decisions whilst achieving utmost time and cost efficiency.
With offices in London, Paris, New York, Hong Kong, Sydney, and Dubai, its international team is dedicated to supporting a global client base with the most up-to-date risk premia dataset, advanced portfolio construction, performance and risk analytics. The firm has established strong partnerships with the top 18 investments banks, global asset managers, pensions funds and insurance companies.
View original content:https://www.prnewswire.co.uk/news-releases/confluence-former-executive-joins-fintech-premialab-302071655.html
Axon Technologies and Keyrus Announce Strategic Partnership to Elevate Cybersecurity Business
Keyrus Acquires Minority Stake in Axon Technologies, adding Axon’s Cybersecurity Portfolio to Keyrus Solutions, and Expanding Keyrus Reach across Middle East and Africa
PARIS and DUBAI, UAE, Feb. 27, 2024 /PRNewswire/ — In a significant development in the cybersecurity sector, Keyrus, an international leader in data intelligence and digital transformation, has announced the acquisition of a minority stake in Axon Technologies, a premier provider of cybersecurity services based in Dubai, UAE. This strategic investment marks a major milestone in Keyrus’ cybersecurity strategy, signalling an ambitious step towards establishing a global cybersecurity powerhouse.
Strategic Expansion and Enhanced Cybersecurity Solutions
The collaboration between Keyrus and Axon Technologies is set to revolutionize the cybersecurity landscape in the Middle East and Africa, particularly with Keyrus’ entry into the lucrative Saudi Arabian market. This move enables Keyrus to pursue its investment in a newly formed cybersecurity business, offering enhanced data security solutions to both existing and new clients.
Eric Cohen, Founder and CEO of Keyrus, expressed his enthusiasm: “This investment in Axon Technologies marks a significant step in our cybersecurity strategy. We’re embarking on an exciting journey to amplify our cybersecurity capabilities and establish a world-class global player in this domain. Axon Technologies’ innovative approach to consulting and managed services aligns perfectly with our vision and culture. We eagerly anticipate integrating Axon into our ecosystem to bolster our cybersecurity solutions and address the digital security challenges of our clients.”
Hadi Hosn, CEO of Axon Technologies, also shared his thoughts: “This partnership marks a new era for Axon Technologies, propelling us further in our mission to protect organizations from cyber threats. We admire the Keyrus vision and believe that our combined strengths will lead to disruptive data and cybersecurity solutions, addressing critical challenges in digital identity, application security, API, and data security across various environments and industries.”
Hadi Darwiche, Chairman of DIV Capital & Co-founder of Axon Technologies: “It’s gratifying to see Axon Technologies grow from a concept into a key player in the cybersecurity field. With Keyrus joining forces with us, we anticipate a period of sustained growth, leveraging our combined experience and established reputations. We are confident that together, Axon Technologies will continue to extend its market presence and deliver top-tier solutions.”
Comprehensive Cybersecurity Portfolio and Global Reach
In a relatively short period, Axon Technologies, founded in 2020, has emerged as a beacon of excellence and innovation in the cybersecurity field, demonstrating remarkable growth and agility in its operations. With a revenue of $3.2 million USD in 2023 and a projected substantial increase of the activities, it represents a testament to its robust business model, exceptional service delivery, and the trust clients place in Axon Technologies. The team made of 30 dedicated professionals is its most valuable asset. Axon Technologies commits to growing its team, fostering a culture of innovation, collaboration, and continuous learning.
Axon Technologies, renowned for its expertise in cybersecurity, will now be able to leverage Keyrus global presence and capabilities. With headquarters in Dubai and a significant footprint in the Middle East, Europe and Africa, Axon Technologies is well-positioned to monitor threats and support client cybersecurity programs across these regions effectively. With the backing of Keyrus’s global network, Axon Technologies is poised for unprecedented growth and are dedicated to setting new standards in the cybersecurity landscape.
The partnership is also expected to enhance the offerings of both companies. Axon Technologies’ expertise in Data Security, Cloud Security, DevSecOps and Managed Security Services aligns seamlessly with the Keyrus strategic objectives in digital, data, AI and cloud transformation initiatives.
About Axon Technologies
Axon Technologies offers comprehensive cybersecurity services including consulting, managed security services, engineering, and testing. The company is a leader in addressing critical infrastructure customers’ cybersecurity needs, from strategic consulting to hands-on management and technical security engineering support and managed security services, ensuring a robust and comprehensive approach to cybersecurity. The company’s service portfolio includes:
Technical Security Consulting & Advisory: Guidance and expertise for technical cybersecurity programs.Advanced Security Testing: Rigorous cybersecurity testing across the environment to identify and address vulnerabilities.Security Engineering & Architecture: Designing and implementing robust security architectures across on-premises and cloud environments.Managed Security Services: Ongoing management and support of cybersecurity operations. About Keyrus
Keyrus, an international player in the consulting and technology sectors and a specialist in data and digital technology, is dedicated to helping enterprises take advantage of the data and digital paradigm to enhance their performance, facilitate and accelerate their transformation, and generate new drivers of growth and competitiveness.
Placing innovation at the heart of its strategy, Keyrus develops a value proposition that is unique in the market and centred around five major service groups, each comprised of multiple solutions:
Automation and Artificial IntelligenceHuman-Centric Digital ExperienceData and Analytics enablementCloud and SecurityBusiness transformation and InnovationBuilding on the combined expertise of more than 3,500 employees active across 27 countries and 4 continents, Keyrus is one of the leading international experts in data, consulting and technology.
Keyrus is listed on Euronext Growth Paris. (ALKEY – ISIN Code: FR0004029411 – Reuters: KEYR.PA – Bloomberg: ALKEY: FP).
About DIV Capital
DIV Capital, originally starting as a family office, now operating as a strategic investment holding firm, specializing in bespoke advisory services. The firm focuses on fortifying family capital through comprehensive offerings that encompass support for early-stage enterprises, strategic asset allocation, and robust governance infrastructure development. The firm operates out of Geneva and Dubai and provides three core services:
Family Asset Support: Tailored support to construct an asset allocation that meets wealth goals.Family Financial Sponsorship: Reinforcement for family-operated businesses, aimed at fostering enduring value creation.Governance and Reporting: Consultation on governance frameworks and the enhancement of reporting standards for comprehensive asset oversight.Forward Looking Statements
Some of the statements in this press release may be forward-looking statements or statements of future expectations based on currently available information. Such statements are naturally subject to risks and uncertainties. Factors such as the development of general economic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. Axon Technologies, Keyrus or DIV Capital do not make any representation or warranty, express or implied, as to the accuracy, completeness or updated status of such statements. Therefore, in no case whatsoever will the companies and the affiliate companies be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages.
Contact: [email protected]
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NDC Group and Valantic form a strategic partnership in EPM solutions
PRAGUE, Feb. 27, 2024 /PRNewswire/ — NDC Group, a leading company in enterprise performance management (EPM) consultancy and data analytics is pleased to announce a strategic partnership with valantic, renowned digital solutions, consulting, and tech innovation company. Through this partnership, the companies aim to offer a joint portfolio of solutions and services in SAP planning and analytics.
Central to this collaboration is the delivery of NDC Financial Consolidation, which offers an automated and streamlined approach to legal and managerial consolidation. While the solution draws inspiration from the concept and functions of previously popular SAP consolidation solutions, it utilizes the modern technologies to enhance automation, performance, user experience, and seamless data integration.
The partnership also gives the chance to offer additional products, including SAC workforce planning content, SAP BusinessObjects migration accelerators, and pre-built content for SAC financial planning. Overall, the combined expertise and product offering enhance the ability of both companies to support customers in driving data-driven transformations within their organizations.
Stefan Blinkmann, Head of SAP Analytics at valantic, emphasizes: “We are very pleased about our new partnership, and we are convinced that our customers will benefit greatly from it. Above all, the NDC Group’s products create added value in the area of consolidation based on SAP Analytics Cloud, and they expand valantic’s range of services. An integrated solution for reporting, planning, and consolidation in SAP Analytics Cloud provides multiple benefits for our customers and enables them to streamline their system landscape.”
Karel Jirik, Head of Products at NDC Group, is also convinced of the benefits of this collaboration: “Our partnership with valantic is an excellent opportunity to leverage the synergies between our teams to streamline and transform our customers’ data landscape. The jointly offered EPM solutions enable precise and swift decision-making and enhance operational efficiency, crucial elements in today’s competitive landscape. I’m particularly pleased we found a lot of commonalities with valantic, and I am convinced together we can deliver better solutions in a shorter time.”
Vladislav Stefanak, CEO of NDC Group, reflects on the partnership’s potential: “This partnership embodies my vision of equipping our clients with advanced functionalities reminiscent of those found in SAP BPC and SAP Financial Consolidation, yet significantly enhanced by leveraging top-tier SAP technologies. Our collaboration with valantic commenced with remarkable synergy from the outset, underpinned by their extensive expertise and knowledge base.”
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View original content:https://www.prnewswire.co.uk/news-releases/ndc-group-and-valantic-form-a-strategic-partnership-in-epm-solutions-302064148.html
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