Guerbet (GBT) Q1 2026 TU earnings summary

Executive summary

• Q1 2026 revenue reached €177.4m, up 2.6% at constant exchange rates (CER) and like-for-like, but down 1.5% on a reported basis due to negative FX impacts, mainly from the US dollar and Asian currencies.

• Growth was driven by EMEA (+4.5% at CER) and Asia (+6.0% at CER), while the Americas declined due to ongoing issues at the Raleigh site.

• The company continues to implement its transformation and remediation plans, including a redundancy plan in France.

Financial highlights

• EMEA revenue rose to €84.1m (+4.5% at CER), supported by improved activity in France.

• Americas revenue fell to €48.9m (-3.0% at CER), reflecting lower volumes from the Raleigh site.

• Asia revenue increased to €42.9m (+6.0% at CER), driven by higher volumes in Japan, South Korea, and Taiwan.

• Diagnostic Imaging revenue was €153.7m (+1.9% at CER); MRI grew 4.4% at CER, X-ray up 0.4% at CER, and Interventional Radiology up 7.8% at CER.

Outlook and guidance

• Full normalization of Raleigh site batch release rates is expected by year-end 2026.

• 2026 financial targets will be communicated by 23 July 2026, coinciding with H1 results.

• The transformation plan aims to restore profitability, with full effects expected in 2027.