Half Year 2024 Biomerieux SA Earnings Call Transcript
Key Points
- BioMerieux SA (BMXMF) reported a strong H1 2024 with a 10% sales growth, surpassing the 7% annual guidance.
- The company launched new products, including SPOTFIRE, 5 plex, 15 plex, and VITEK REVEAL, which were approved by the FDA in the US.
- Significant progress in operational efficiency, including BIOFIRE automation and internalization of cartridge manufacturing.
- High employee engagement and alignment with the GO28 strategic plan, with 75% of initiatives already started.
- Strong performance in reducing greenhouse gas emissions by 14% as of June 2024, aligning with CSR targets.
- Foreign exchange headwinds negatively impacted the financial performance by EUR 44 million in H1 2024.
- Immunoassays segment showed softness, with Q2 performance slightly better but still recovering from a low Q1.
- Industrial applications growth was on the lower range of the target with 7% growth in H1, slightly below the GO28 target.
- The company faces challenges in hyperinflation countries like Argentina, Turkey, Egypt, and Nigeria, impacting reported CEBIT.
- Concerns about the sustainability of strong pricing dynamics in microbiology and industrial applications into the second half of the year and beyond.
Good day, and welcome to the H1 2024 results conference call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. . Please go ahead.
Thank you, Jennifer. Good afternoon, everyone, and thank you for joining us to review the bioMĂ©rieux for this H1 2024 financial performance review. I am online with Pierre Boulud, CEO, together with Guillaume Bouhours, CFO.
Before handing the call over to Pierre for preliminary remarks, please note that this conference call will include forward-looking statements that may change or be modified due to uncertainties and risks related to the company's environment. Accordingly, we cannot give any assurances as to whether we will achieve these objectives.
I also remind you that today's call is being recorded and that a replay will be available on our website, www.biomerieux-finance.com. I now hand the call over to Pierre, and then we will open the call to discussion and
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