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Objectives

• Eurofins is confirming its objectives for FY 2025 and FY 2027 as announced at the FY 2024 results presentation on 30 January 2025.

• Potential and implemented tariffs that are currently being discussed between governments are not expected to have a direct material impact on Eurofins’ cost structure.

• With its focus on resilient life science-related markets with recurring and visible revenues and the vast majority of its services rendered in the country where its clients are located, Eurofins is confident that its relatively less cyclical business exposure leaves it generally less affected by the full impact of economic downturns. This is evidenced by its track record of positive organic growth^13,A even through the financial crisis of 2007-2009 and during the COVID-19 pandemic.

Comments from the CEO, Dr Gilles Martin:

"Despite geopolitical and macroeconomic uncertainties increasing at the global level and in specific regions, Eurofins has been able to deliver resilient results in the first quarter of 2025, particularly in sizable business lines including Food and Feed Testing, Environment Testing, and BioPharma Product Testing, where Eurofins is a global leader. Our performance demonstrates not only the non-cyclical demand for our services under challenging economic conditions, but also the durability of our business model and the focus of our organisation.

Meanwhile, we have been making further progress to improve our operational and financial performance as well as in executing our value creation strategy. Thanks to the dedication of Eurofins teams to pricing attainment, better capacity utilisation and strict management of capex and working capital, we remain on track to increase our profitability and cash generation in 2025 above the levels achieved in 2024. In terms of strategy and capital allocation, we have continued to expand and strengthen our network footprint by completing 11 acquisitions and initiating 5 start-ups and 14 blood collection points, while also opportunistically allocating substantial capital to repurchase our shares at attractive valuation levels.

Although we are cautious in the current uncertain economic climate, we remain confident in our long-term value creation strategy of further investing in our unique laboratory network, leveraging digitalisation and automation and improving client service quality, while also pragmatically sustaining our strong balance sheet and continuing to prudently allocate capital."

Conference Call

Eurofins will hold a conference call with analysts and investors today at 15:00 CEST to discuss the results and the performance of Eurofins, as well as its outlook, and will be followed by a questions and answers (Q&A) session.

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From any device, click the link above to join the conference call.

Table 1: Organic Growth¹³ Calculation and Revenue Reconciliation

* Organic scope consists of all companies that were part of the Group as of 01/01/2025. This corresponds to the 2024 pro-forma scope.
** Not adjusted for public working days (nearly one less day in Q1 2025)

Table 2: Breakdown of Revenue by Operating Segment

** Not adjusted for public working days (nearly one less day in Q1 2025)

Table 3: Breakdown of Revenue by Area of Activity

** Not adjusted for public working days (nearly one less day in Q1 2025)

Alternative Performance Measures

1. Adjusted results – reflect the ongoing performance of the mature¹⁴ and recurring activities excluding "separately disclosed items".

2. Separately disclosed items – include one-off costs from network expansion, integration and reorganisation, discontinued operations, other non-recurring income and costs, temporary losses and other costs related to start-ups and acquisitions undergoing significant restructuring, share-based payment charge and acquisition-related expenses, net⁵, gains/losses on disposal of businesses, net finance costs related to borrowing and investing excess cash and one-off financial effects (net of finance income), net finance costs related to hybrid capital and the related tax effects.

3. EBITDA – earnings before interest, taxes, depreciation and amortisation, share-based payment charge and acquisition-related expenses, net⁵ and gain and loss on disposal of subsidiaries, net.

4. EBITAS – EBITDA less depreciation and amortisation.

5. Share-based payment charge and acquisition-related expenses, net – share-based payment charge, impairment of goodwill, amortisation of acquired intangible assets, negative goodwill, and transaction costs related to acquisitions as well as income from reversal of such costs and from unused amounts due for business acquisitions.

6. EBIT – EBITAS less share-based payment charge and acquisition-related expenses, net⁵ and gain and loss on disposal of subsidiaries, net.

7. Net Profit – net profit for owners of the Company and hybrid capital investors before non-controlling interests.

8. Basic EPS – basic earnings per share attributable to owners of the Company.

9. Net capex – purchase, capitalisation of intangible assets, purchase of property, plant and equipment less capex trade payables change of the period and proceeds from disposals of such assets.

10. Free Cash Flow to the Firm – net cash provided by operating activities, less Net capex.

11. Net debt – current and non-current borrowings, less cash and cash equivalents.

12. Net working capital – inventories, trade receivables and contract assets, prepaid expenses and other current assets less trade accounts payable, contract liabilities and other current liabilities excluding accrued interest receivable and payable.

13. Organic growth for a given period (Q1, Q2, Q3, Half Year, Nine Months or Full Year) – non-IFRS measure calculating the growth in revenues during that period between two successive years for the same scope of businesses using the same exchange rates (of year Y) but excluding discontinued operations.
    For the purpose of organic growth calculation for year Y, the relevant scope used is the scope of businesses that have been consolidated in the Group's income statement from the previous financial year (Y-1). Revenue contribution from companies acquired in the course of Y-1 but not consolidated for the full year are adjusted as if they had been consolidated as of 01 January Y-1. All revenues from businesses acquired since 01 January Y are excluded from the calculation. Also, all revenues from discontinued activities / disposals in both the previous financial year (Y-1) and year Y are excluded from the calculation.

14. Mature scope: excludes start-ups and acquisitions in significant restructuring. A business will generally be considered mature when: i) the Group’s systems, structure and processes have been deployed; ii) it has been audited, accredited and qualified and used by the relevant regulatory bodies and the targeted client base; iii) it no longer requires above-average annual capital expenditures, exceptional restructuring or abnormally large costs with respect to current revenues for deploying new Group IT systems. The list of entities classified as mature is reviewed at the beginning of each year and is relevant for the whole year.

15. Discontinued activities / disposals: discontinued operations are a component of the Group’s businesses or product lines that have been disposed of, or liquidated; or a specific business unit or a branch of a business unit that has been shut down or terminated, and is reported separately from continued operations.

16. FCFF before investment in owned sites: FCFF less net capex⁹ spent on purchase of land, buildings and investments to purchase, build or modernise owned sites/buildings (excludes laboratory equipment and IT).

Notes to Editors:

About Eurofins – the global leader in bio-analysis

Eurofins is Testing for Life. The Eurofins Scientific SE network of independent companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

With ca. 63,000 staff across a decentralised and entrepreneurial network of more than 950 laboratories in over 1,000 companies in 60 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.

Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.

The Eurofins network has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, its companies draw on the latest developments in the field of biotechnology and analytical chemistry to offer their clients unique analytical solutions.

Shares in Eurofins Scientific SE are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).

^A Since Eurofins did not generate any COVID-19 related clinical testing and reagent revenues in FY 2024, there is no longer any difference between the organic growth in the Core Business and the organic growth rate of the Group. Therefore, Eurofins has discontinued the use of the term "Core Business".

View source version on businesswire.com: https://www.businesswire.com/news/home/20250422252103/en/

Contacts

For more information, please visit www.eurofins.com or contact:

Investor Relations
Eurofins Scientific SE
Phone: +32 2 766 1620
E-mail: ir@sc.eurofinseu.com