Record quarterly revenue: €10.1 million in the 1st quarter of 2023, organic growth +16%
Radiology: 6% growth in 1st quarter / +22% in the United States / First deliveries of record order from Fujifilm Healthcare Italy will begin 2nd quarter
Bone densitometry: strong quarterly growth: +69%
Confirmation of 2023 targets and perspectives
€40 million in revenue, i.e., double-digit organic growth
Expected increase in EBITDA margin
Liège (Belgique) - DMS Imaging (Euronext Brussels and Paris - BE0974289218 - DMSIM), imaging division of DMS Group and French specialist in the development, design and manufacture of imaging systems, announces its consolidated revenue for the 1st quarter of 2023 (period from January 1 to March 31, 2023).
| Unaudited consolidated data in M€ IFRS standards | 1st quarter 2023 | 1st quarter 2022 | Change |
|---|---|---|---|
| Revenue | 10.1 | 8.7 | +16% |
| Radiology activity | 7.7 | 7.3 | +6% |
| Bone densitometry activity | 2.4 | 1.4 | +69% |
DMS Imaging generated consolidated revenue of €10.1 million in the 1st quarter 2023 representing +16% of organic growth and marking the largest quarterly revenue ever earned in a 1st quarter.
Review by activity
In Radiology, revenue amounted to €7.7 million, a quarterly growth of +6%. 1st quarter activity did not include any deliveries of the 96 FDX Visionary-RF Premium remote-controlled radiology tables won in a tender by Fujifilm Healthcare Italy[1]. The first deliveries for this order will begin in the 2nd quarter of 2023 and will ramp up throughout the year.
The Radiology business continued its strong development in the United States at the start of the exercise, with +22% growth in the region, driven by distribution agreements with Fujifilm Healthcare and Carestream Health. DMS Imaging manufactures white-label remote-controlled radiology tables offered by:
- Fujifilm Healthcare in Europe, Africa, Middle East, and North America.
- Canon Medical Systems Europe in the Europe area.
- Carestream Health in North and South America.
DMS Imaging also markets its solutions under its own brand, Apelem, to a network of 140 distributors around the world.
In Bone densitometry, the Group registered a strong 1st quarter 2023, recording +69% growth. This performance reflects the success of our distribution agreement with Fujifilm Healthcare as well as an acceleration in sales in Europe and Asia, where sales activities had begun to resume at the end of 2022.
Confirmation of 2023 revenue target: €40 million
At the end of an historic 1st quarter, DMS Imaging remains confident in its objective of €40 million consolidated annual revenue. The Radiology activity will begin deliveries of the 96 tables to Fujifilm Healthcare Italy over the next few quarters, and sustained activity in both radiology and bone densitometry will allow the Group to reach double-digit organic growth compared to 2022.
The Group also confirms the improvement in its profitability in 2023 , with an expected improvement in its EBITDA margin[2].
As set forth in the Imaging 2027 plan of DMS Group, DMS Imaging has fixed the objectives of registering €60 million revenue and an EBITDA margin of 14% in 2027.
Financial calendar 2023
| Date | Event |
|---|---|
| April 28th 2023 | Publication of 2022 annual results |
| July 20th 2023 | Publication of 2023 1st semester revenue |
| September 29th 2023 | Publication of 2023 half-year results |
| October 19th 2023 | Publication of 2023 3rd quarter revenue |
| January 18th 2024 | Publication of 2023 annual revenue |
| April 30th 2024 | Publication of 2023 annual results |
The publications will be made when the Euronext Paris market is closed. These dates are given as an indication, they can be changed if necessary.
About DMS Imaging
Specialized in high technology for medical diagnosis, DMS Imaging is now the French leader in development, design and manufacture of RF imaging systems dedicated to radiology, bone densitometry, 3D modeling and posturology.
DMS Imaging is quoted on the Euronext market in Brussels and Paris (ISIN: BE0974289218 - memo: DMSIM).
More information on www.dms-imaging.com.
Contacts
| DMS Imaging | ||
| Samuel SANCERNI | Chief Executive Officer | +33 (0)4 67 50 49 00 |
| ACTUS FINANCE | ||
| Mathieu OMNES Fatou-Kiné N'DIAYE | Investor relations Press relations | +33 (0)1 53 67 36 92 +33 (0)1 53 67 36 34 |
[1] Read press release of January 12, 2023
[2] EBITDA corresponds to the recurring operating income before interest, taxes, depreciations, and amortization.
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