Unilabs Reports Third Quarter 2015 Financial Results
Unilabs, one of Europe’s leading providers of clinical laboratory testing and medical diagnostic imaging services, announced further growth today, reporting that for the quarter ending 30 September 2015, revenue was €152.8m, compared to €141.7m in Q3 2014. The results show a significant and positive organic sales growth of 4.5% (CER†) leading to EBITDA growth vs Q3 2014 of 12.9%. This marks the 5th successive quarter of revenue growth, EBITDA growth and cost savings.
Other significant milestones in the last quarter include:
- Organic growth in net sales is up 7.0% (4.5% CER) driven by new customer wins and volume increases in both Laboratory and Imaging from existing business
- Securing retendered imaging contract in Norway with an annual revenue of €40M
- Second lab acquired in Portugal, expanding Unilabs’ local presence
- Further acquisitions planned for Q4 and continued negotiation with medium sized companies
Unilabs has the most comprehensive portfolio of diagnostic services in Europe, with a broad range of more than 2,500 diagnostic tests. It is a leading supplier of clinical laboratory testing and medical diagnostic imaging services for public and private health services and other customer groups across 10 European markets as well as operating in both Latin America (Peru) and the Middle East (Dubai). With more than 200 diagnostic contracts, Unilabs has over 125 laboratories & 350 customer service locations. In 2014, its laboratories carried out over 100 million laboratory tests and over 1 million radiology exams providing swift and accurate results to allow a wide range of healthcare professionals to make key treatment decisions.
Jos Lamers, Chief Executive Officer at Unilabs said, “Our Q3 results show further positive growth in what is so far an extremely successful year. Our focus for the rest of 2015 remains on winning new customers based on our quality & service levels instead of price reductions. We believe this will ultimately drive further sales growth with a positive impact on the bottom line. In addition, our cost leadership initiative has already exceeded the 2015 full year plan after 9 months.”
|€millions||Q3 Reported||Q3 CER|
|2014||2015||% change||2015 CER||% change|
|Adjusted EBITDA margin||13.9%||14.7%||81 bps||14.8%||92 bps|
Commenting on the financial performance Chief Financial Officer Karl-Erik Clausen said, “The reported 7.8% growth in revenue (versus Q3 2014) has been driven by new customer wins and volume increases in both Laboratory & Imaging. Another significant factor is that we have been successful in securing the retender of our imaging contracts in Norway (€40M in annual revenue).”
Organic growth in net sales continued its positive trend with an increase of 7.0% (4.5% CER) compared to Q3 2014.
Strong organic growth was driven by:
- Continued customer wins leading to volume growth in Switzerland
- Positive growth in our imaging business in Denmark
- Successful implementation of contracts like the Norrbottens läns landsting (NLL – Public Heath Department) in Sweden
- Healthy development of high margin disciplines such as Companion Diagnostics (CDx), Drug Development Services (DDS) and Pathology
The results reported today show €3.6m of cost savings in Q3. This means that the strategic cost saving initiative has already exceeded its full year plan of €10m after 9 months - it is now anticipated to deliver €14M by the end of the 2015.
The most recent savings have been driven by continued lab consolidation, implementing efficient procedures in our laboratories, procurement savings & the initial results of our benchmarking projects. Following the success of the cost leadership initiatives in 2014-2015, further cost reduction targets are being set for 2016 and beyond.
Merger and Acquisition Activities
Three acquisitions have already closed in 2015. This quarter, a second laboratory has been acquired near Porto, Portugal, which has reinforced our presence in this key market for Unilabs. Further acquisition targets in France and across Europe will close in Q4. Several discussions with medium-size targets in different regions are ongoing.
Overview and outlook
Summarising the results from this quarter and the outlook for the remainder of 2015, Mr Lamers commented, “Every week we hear stories from our employees and customers who tell us about how our services remain at the heart and start of effective treatment decisions that positively impact people’s health & wellbeing. As a company, we are extremely motivated by this critical contribution to healthcare and the financial performance of our business is a reflection of the work all our people do to deliver a great service. We expect the current success to continue into the final quarter of 2015.”
*EBITDA: Earnings Before Interest, Taxes, Depreciation and Amortization
†CER: Constant Exchange Rates
Notes to Editors
Unilabs aspires to be at the heart and start of all effective treatment decisions. With over 125 laboratories and a broad catalogue of more than 2,500 diagnostic tests, Unilabs is one of Europe’s leading providers of clinical laboratory testing and medical diagnostic imaging services. Headquartered in Geneva, the Unilabs Group services sectors ranging from private and public healthcare providers to local governments, from pharmaceutical companies to the general public.
Unilabs mediates care. In 2014, its laboratories carried out over 100 million diagnostic tests ensuring swift, accurate diagnosis of patient samples, 5,000 IVF procedures and over 1 million radiology exams.
The importance of medical diagnostics is expanding; as focus shifts from treatment to prediction and prevention, and innovations in molecular and genetic testing continue to emerge, Unilabs aims to be at the heart of this healthcare transformation.
Unilabs Group employs more than 5,000 people worldwide, successfully operating laboratory and medical diagnostic imaging facilities in 12 countries. Its network of facilities provides it with one of the broadest geographic footprints of any clinical laboratory and medical diagnostic services provider in Europe.
For more information about Unilabs, please visit www.unilabs.com.
Forward Looking Statement
This press release contains various “forward-looking statements” that reflect management’s current view with respect to future events and anticipated financial and operational performance. Forward-looking statements as a general matter are all statements other than statements as to historical fact or present facts or circumstances. The words “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,” “may,” “plan,” “potential,” “predict,” “projected,” “risk,” “should,” “will” and similar expressions or the negatives of these expressions are intended to identify forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. These forward-looking statements may include, among other things, statements relating to: our future financial position; our strategy and outlook; our liquidity, capital resources and capital expenditure; our planned investments; acquisition opportunities in the markets in which we currently, or may in the future, operate; expectations as to future growth in demand for our products and services; demographic trends; general economic trends and other trends in our industry; the impact of regulations on us and our operations; the competitive environment in which we operate; the outcome of legal proceedings; extreme weather conditions in the markets where we operate; failure to comply with privacy laws; and failure to comply with environmental health and safety laws. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can provide no assurances that such expectations will prove to be correct and such statements are not guarantees of future performance because they are based on numerous assumptions. Forward-looking statements are based on information available at the time those statements are made and management's good faith belief as of that time with respect to future events and are subject to known and unknown risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. For a further discussion of such risks please see the risks discussed under the caption “Risk Factors” beginning on page 26 of the Offering Memorandum dated July 10, 2013 (the “OM”) in connection with our offering of senior secured notes and second lien PIK toggle notes (collectively, the “Notes”). You should not place undue reliance on any forward-looking statement. Any forward-looking statement speaks only as at the date on which it is made and we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For further information or to arrange an interview with Unilabs CEO Jos
Lamers and/or CFO Karl-Erik Clausen:
Clark Health Communications
T: +44 (0)207 492 1900
Further investor relations information is available by registering at www.unilabs.com/investors
Om Business Wire
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Følg saker fra Business Wire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Business Wire
HCL Technologies Powers Volvo Ocean Race 2017-1823.10.2017 13:02 | Pressemelding
The 2017-18 edition of the Volvo Ocean Race was flagged off at Alicante, Spain, with HCL Technologies as the strategic IT services provider. The leading global IT services company has provided end-to-end infrastructure support as well as connectivity between the Race Village and the Command Centre in Alicante further connecting them to 12 Host Cities on the race route globally. The world's longest and toughest professional sporting event began at Alicante and will finish eight months later at The Hague. At the flag-off, Jordi Neves, Chief Digital Officer, Volvo Ocean Race, said: “Over four decades, Volvo Ocean Race has drawn some of the greatest ever sailors. This edition of the race will be more digitally focused than before, with HCL as the strategic IT services provider. This edition is also special for us as we embark on a major Sustainability Program in partnership wi
CES Unveiled Paris Returns Tomorrow for Fifth Year with 70+ Exhibitors23.10.2017 13:00 | Pressemelding
Consumer Technology Association (CTA): WHAT: CES Unveiled Paris returns to Paris tomorrow, for its fifth consecutive year, hosting more than 70 exhibitors. More than 600 attendees are expected at the event which will unite French tech startups, top media, buyers and industry influencers around the latest tech innovation and provide a preview of CES® 2018. Schedule as follows:
Wipro Cited as a Leader in Everest Group PEAK Matrix™ for IT Security Services23.10.2017 12:59 | Pressemelding
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has been recognized as a ‘Leader’ by Everest Group, a global independent consulting and research firm, in its report titled “IT Security Services- Market Trends and PEAK MatrixTM Assessment 2017: Security- the Biggest Digital Insecurity”. The report analyzed the capabilities of 17 leading global IT service providers on Everest Group’s PEAK Matrix. Wipro has been named as a Leader for its strong global delivery network with a transformational mind-set, and its ability to deliver high quality of services across regions and service segments, in terms of both execution and responsiveness. The report highlights the trends influencing the IT security services market, focusing on the increasing complexities, size and
ZeroStack Delivers Unified Multi-Cloud Application Development Platform Leveraging Existing Hardware Assets23.10.2017 12:00 | Pressemelding
ZeroStack, Inc., creators of the self-driving on-premises cloud, today announced that its cloud platform now runs on Nutanix HCI hardware, expanding choices for IT departments that want to empower their DevOps groups with a software-defined infrastructure that offers SaaS-delivered, multi-cloud operations. Developers can have a consistent platform no matter where they are located while reducing operational complexity and costs. Developers need a common platform to reduce costs and ensure efficient processes for software development, and budget-constrained IT departments want to gain maximum leverage out of existing hardware. ZeroStack’s Intelligent Cloud Platform is hardware independent, so it enables consistent processes regardless of the hardware used or where the developers access the infrastructure. As a result, developers can create secure private workspaces and build a per
Biogen and Eisai Expand Existing Collaboration Agreement to Develop and Commercialize Investigational Alzheimer’s Disease Treatments Including Phase 3 Aducanumab23.10.2017 11:15 | Pressemelding
Eisai Co., Ltd. (Headquarters: Tokyo, CEO: Haruo Naito, “Eisai”) and Biogen Inc. (NASDAQ: BIIB) (Headquarters: Cambridge, Massachusetts, United States, CEO: Michel Vounatsos, “Biogen”) announced today that the companies have expanded their existing agreement to jointly develop and commercialize investigational Alzheimer’s disease treatments. This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171023005462/en/ Under the terms of the agreement Eisai has exercised its option to co-develop and co-promote aducanumab, Biogen’s investigational anti-amyloid beta (Aβ) antibody for patients with Alzheimer’s disease (“AD”). The expanded agreement leverages each company’s respective geographic strengths for commercialization and adjusts the respective share of profits from potential sales of aducanumab. Biogen will receive 55
Open Letter from Mats Granryd, Director General, GSMA23.10.2017 11:01 | Pressemelding
Dear Ministers, As you are no doubt aware, European citizens and businesses rely on mobile networks to socialise, do business and access information everyday in every corner of every Member State of the Union. The social and economic activity that rides over this digital infrastructure drives economic growth, shapes future innovation and fosters more inclusive societies. As you prepare to convene at tomorrow’s Ministerial Council Meeting, I must express my grave concerns on the current state of discussions on the proposed European Electronic Communication Code (the Code). Although the European Union’s vision of a ‘Gigabit Society’, and recent discussions amongst the European Heads of State, demonstrate a strong ambition to recapture the region’s digital leadership and harness the full power of digital to drive growth, jobs and competitiveness, we do not see action foc
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom