Q1 adj revenue organic up 6.8% (Il Sole 24 Ore Radiocor) - Paris, 24 Apr - The French pharmaceutical, food, and environmental testing company Eurofins Scientific said that in the first quarter revenue rose 5.0% to 1.653 billion euros.

Adjusted for public working days, organic revenue growth in the core business, which excludes Covid-19 related clinical testing and reagent revenues, was 6.8%, ahead of the group's objectives.

The company confirmed its objectives for 2024 and 2027.

In 2024, Eurofins expects revenue of 7.075-7.175 billion euros, adjusted EBITDA of 1.525-1.575 billion and free cash flow to the firm (FCFF) before investment in owned sites of 800-840 million euros.

In 2027, the group expects revenue approaching 10 billion euros, an adjusted EBITDA margin of 24% and FCFF approaching 1.5 billion euros.

Eurofins targets average annual organic growth of 6.5% and potential average revenue from acquisitions of 250 million euros annually the five-year period from 2023 to 2027.

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(RADIOCOR) 24-04-24 08:22:15 (0170) 5 NNNN