bioMérieux (BIM) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 organic sales grew 11% to €969 million, with year-to-date organic growth at 10.3% and consolidated nine-month sales at €2,871 million.

• Strong performance across all four GO28 growth drivers, with notable contributions from BIOFIRE® panels, SPOTFIRE®, microbiology, and industrial applications.

• Innovation highlights include the launch of SPOTFIRE Sore Throat Panel, VITEK REVEAL in the US, and VIDAS B12 assay.

• Corporate social responsibility initiatives are on track to meet 2024 targets, and a new long-term incentive plan aligns leadership with GO28 objectives.

• Strategic plan GO•28's four growth drivers grew 12%, supporting upwardly revised full-year guidance.

Financial highlights

• Q3 sales: €969 million, up 11% organically year-over-year; nine-month sales: €2,871 million, up 10.3% organically.

• Negative currency effect of €26 million in Q3 and €76 million year-to-date, mainly from euro appreciation and emerging market currencies.

• BioFire non-respiratory panels grew 16% in Q3, with double-digit growth in all regions; non-RP panels made up 44% of BioFire revenue.

• SPOTFIRE sales reached €20 million in Q3, with installed base nearing 2,100 instruments across nine countries.

• Microbiology segment grew 10% organically, with 4 percentage points from price increases; reagent sales up 12%.

Outlook and guidance

• 2024 guidance: organic sales growth of 8–10%, organic EBIT (CEBIT) growth of 12–17%.

• FX impact on CEBIT revised to -€60 million for the full year, improved from previous -€70 million estimate.

• Main uncertainty for Q4 is the strength of the respiratory season; guidance assumes a slight decrease in respiratory sales versus Q4 2023.

• Committed to midterm targets: 7% CAGR sales growth and minimum 10% annual organic CEBIT growth.