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bioMérieux – 2023 Financial Results

Fourth quarter total sales of €1 billion growing +3.1% organic on a high triple demic comparison basis in Q4 2022; organic growth excluding BIOFIRE® respiratory panels of +12% in Q4, above expectations, highlighting the successful positioning of bioMérieux solutions:

  • Remarkable performance of BIOFIRE® non-respiratory panels, growing +20%
  • Continued outstanding growth in microbiology (+14%), with double digit growth for VITEK® and BACT/ALERT®,
  • Strong dynamic for the Industrial Applications business with a +11% increase in sales over the quarter driven by both food and pharma segments
  • Promising launch of BIOFIRE® SPOTFIRE® with close to 400 new instruments installed over the quarter

Full year sales of €3,675 million up +6.6% organic (+ 2.4% as reported) exceeding expectations thanks to an excellent performance of microbiology and BIOFIRE® non respiratory panels sales and lower than anticipated sales decrease for BIOFIRE® respiratory panels.

Contributive operating income reached €610 million (16.6% of sales) up +2% at constant exchange rate and scope, a solid performance in the context of the normalization of the operating expenses post COVID, in the high end of the guidance before higher than expected negative foreign exchange headwinds (-€55 million).

2024 Guidance:

  • Sales growth between +6% and +8%, at constant exchange rates and scope of consolidation
  • Contributive operating income before non-recurring items is expected to grow at least by +10% at constant exchange rates, with a stable gross margin and a disciplined management of operating expenses, leading to an improvement of the operating margin of at least +50bps at constant exchange rate. A negative foreign exchange impact in the range of -€50 million versus 2023 is expected in 2024.

Pierre Boulud, Chief Executive Officer, says: “bioMérieux delivered a very solid operating performance in a post COVID environment with a +11% growth in sales excluding respiratory panels and a contributive operating income in the high end of expectations before foreign exchange headwinds. The product portfolio has been significantly enhanced in 2023 with the launches of several innovative products such as BIOFIRE® SPOTFIRE®, VIDAS® KUBE™ and VITEK® REVEAL™. In 2024, we expect to continue to deliver a dynamic sales growth thanks to our four growth engines: microbiology solutions, BIOFIRE® non-respiratory panels, BIOFIRE® SPOTFIRE® and Industrial Applications. I will be glad, together with the Executive Committee, to share with investors, the bioMerieux mid-term business perspectives during our Capital Markets Day to be held in Paris on April 9th 2024.

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