Investor Presentaiton
Revenues (Em)
Start-ups an increasingly attractive investment as we
leverage our scale and experience
* eurofins
178 laboratories start-ups between 2000 and 2020
Substantial acceleration offers tremendous growth potential
1) Acceleration in laboratories start-up programmes
500
450
Where we are building start-up labs
400
350
North America
33
Rest of World
73
Europe
72
300
25 start-ups 2000-2009 (Programme 1)
•
18 start-ups 2010-2013 (Programme 2)
•
102 start-ups 2014-2018
•
15 start-ups opened in FY 2019
250
200
150
100
•
18 start-ups opened in FY 2020
These 178 start-ups continued to contribute to the overall organic growth of the Group,
accounting for 3.2% out of the 19.3% organic growth achieved in FY 2020
2) Commitment to invest for future growth
•
•
•
Eurofins start-up programme represents a significant investment for the future and has a short-
term dilutive impact on the Group's margins and cash flows.
On average, start-up periods last for 2 to 3 years in mature markets and 2 to 5 years in emerging
markets in order to reach breakeven before they become profitable
The EBITDA margin from our two most recent programmes (2010-2013 and 2014-2020)
improved significantly to reach levels in the mid-teens, but this is heavily influenced by the ability
of our start-up clinical laboratories to contribute to the fight against COVID-19 by facilitating
access to SARS-CoV2 tests.
50
0
2009
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
25 start-ups
18 start-ups
135 start-ups
Programme 1
(2000-2009)
Programme 2
(2010-2013)
Programme 3
(2014-2020)
3) Start-up investments complement our acquisition strategy
•
Alternative strategy in high-growth markets and emerging markets where acquisition
prices are too high and/or there are limited viable options for acquisitions
*2019 revenues are corrected for the estimated cyber-attack impact
23View entire presentation