Contrast agent developer Guerbet reported a slight dip in revenue for the first half of 2022, excluding a positive foreign exchange due to the dollar's strength against the euro.
The company's first half revenue increased to 371.1 million euros ($365 million), up 2.2% from 363.1 million euros ($357 million) in the same period last year. This includes a positive foreign exchange effect of 12.8 million euros ($12.6 million), almost half of which was due to the dollar's strength against the euro, the company said.
Excluding foreign exchange effects and on a like-for-like basis, first-half revenue decreased by 1.3% to 358 million euros ($352), the company reported. It was up 0.5% in the first quarter and down 3.1% in the second quarter due to an unfavorable base effect, Guerbet reported. Sales jumped 25.1% in the second quarter of 2021 in the context of postlockdown improvements, the company added.
In addition, Guerbet reported net income for the first half of 2022 of 3.3 million euros ($3.2 million), compared with net income of 23.4 million euros ($23 million) in the same period last year.