Turnover increased 7.2% to 2.323 billion euros and Eurofins expressed confidence in meeting its 2020 financial targets, which include reaching 5 billion euros in revenue.
Eurofins has launched a range of products to detect the presence of the SARS-CoV-2 virus responsible for the COVID-19 disease, thereby strengthening its overall performance.
Eurofins shares rose around 10% early in the session, to all-time highs. The stock has grown by around 30% since the start of 2020, giving Eurofins a market capitalization of around € 12 billion.
“Good performance across the board,” the Jefferies brokerage wrote, maintaining a “buy” rating on Eurofins shares. (Reporting by Sudip Kar-Gupta; Editing by Shri Navaratnam and Edmund Blair)
Par Sudip Kar-Gupta