Eurofins Announces Its Investment Grade Credit Rating Assigned by Fitch

LUXEMBOURG--(BUSINESS WIRE)-- Regulatory News:

Eurofins Scientific (Paris: ERF) (EUFI.PA), a global leader in bioanalytical testing, announces today that it has received a public long-term issuer credit rating by Fitch Ratings (“Fitch”) which assigned an investment grade rating of BBB- with a stable outlook.

This second credit rating equivalent to its inaugural credit rating of Baa3 (stable) assigned by Moody’s in July 2020, confirms Eurofins’ credit strength based on its leadership positions in most of its activities and its underlying resilient end-markets. It gives Eurofins greater flexibility for its future financing needs.

Comment from Fitch’s Analyst, Frank Orthbandt: “the BBB- issuer rating balances Eurofins’ strong business risk profile and satisfactory free cash flow generation with a moderate financial leverage and Fitch’s expectation of a conservative financial policy (…). Eurofins has deleveraged following a successfully implemented investment and growth strategy accelerated in 2017 – 2018 and has been focusing on fully integrating its business platform”.

Notes to Editors:

For more information, please visit www.eurofins.com.

About Eurofins – the global leader in bio-analysis

Eurofins is Testing for Life. Eurofins is the global leader in food, environment, pharmaceutical and cosmetic product testing and in agroscience Contract Research Organisation services. Eurofins is one of the market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, advanced material sciences and in the support of clinical studies, as well as having an emerging global presence in Contract Development and Manufacturing Organisations. The Group also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

With over 50,000 staff across a decentralised and entrepreneurial network of more than 800 laboratories in over 50 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.

The Group’s objective is to provide its customers with high-quality services, innovative solutions and accurate results on time. Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the requirements of healthcare practitioners around the world.

In 2020, Eurofins reacted quickly to meet the global challenge of COVID-19, by creating the capacity to help over 20 million patients monthly who may have been impacted by the pandemic with our testing products and our services and directly supporting healthcare professionals working on the front line to fight the virus. The Group has established widespread PCR testing capabilities and has carried out over 15 million tests in its own laboratories, is supporting the development of a number of vaccines and has established its SAFER@WORK™ testing, monitoring and consulting programmes to help ensure safer environments during COVID-19.

Eurofins has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions.

Shares in Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).

Until it has been lawfully made public widely by Eurofins through approved distribution channels, this document contains inside information for the purpose of Regulation (EU) 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, as amended.

Important disclaimer:

This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantees can be made as to their completeness or validity.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210507005489/en/

Investor Relations
Eurofins Scientific SE
Phone: +32 2 766 1620
E-mail: [email protected]

Source: Eurofins Scientific

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