Investor Presentaiton
Fastest growing TIC company which became the leader
of an industry with attractive and resilient organic growth
eurofins
Market Structural growth: est. ~1.5-2.0x Gross Domestic Product growth, globalisation, urbanisation, increasing need and demand for a healthier life and safer environment.
Testing is the most efficient and cost effective way to prevent risks (e.g. Clinical Diagnostics tests = 4% of healthcare costs but used in 60% to 70% of medical decisions¹),
outsourcing trend
Limited cyclicality: A large majority of Eurofins' revenues are recurring, focused on resilient/defensive sectors (testing for life, i.e. testing food, pharmaceuticals, the
environment and products that have an impact on our health as well as human clinical testing), diversified industry and geographical exposure
In spite of its lower growth routine clinical testing component, Eurofins is outperforming its peers thanks to leadership positions achieved in its chosen less cyclical life science
focused markets
TICS Organic Revenue Growth² (annual or H1)
TICS Organic Revenue Growth 2 (5-year average)
Eurofins long term growth gap with TICs is increasing
4
44%
40%
36%
12%
+19%6
+150bps
32%
28%
24%
20%
16%
8%
1 | +60%
+650bps 6
5
+1,714%
+1200bps
3
4%
+22%6
+120bps
+146%6
+380bps
3
12%
8%
+n.s.%6
+680bps
4%
15
I
0%
0%
-4%
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
H1 2021 H1 2019
'00-'04
'05-'09
10-'14
15-'19
vs H1
-8%
LERF Total OG (FY 2020 & H1 2021)
ERF (ex.Covid)
TICS ex ERF
2021
-4%
1 Source: Mayo Clinic
2 Source: Eurofins, Company websites TICS ex ERF = SGS, Intertek, Bureau Veritas. Organic revenue growth average if more than 1 year.
3 For 2019 and H1 2021, organic revenue growth corrected for estimated missing revenues of EUR 62m from cyber-attack of 2 June 2019
4 Organic revenue growth of Eurofins Group as a whole (excluding COVID-19 related clinical testing and reagent revenues)
5 Organic revenue growth of Core Business only (excluding COVID-19 related clinical testing and reagent revenues)
6 Eurofins relative organic revenue growth vs average organic revenue growth for TICS (ex ERF)
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