ERFSF
Updated: 24/09/2026, 22:55:06
Eurofins Scientific SE, along with its affiliated companies, delivers a broad spectrum of analytical testing and laboratory solutions globally. The firm utilizes an extensive repertoire of approximately 200,000 analytical techniques, designed to assess various product attributes such as safety, identification, makeup, genuineness, source, trackability, and cleanliness. Its offerings span numerous sectors. These include agro-science, encompassing biological evaluations, consumer, human, and environmental safety assessments, product chemical analysis, regulatory guidance, and seed services. The company also handles general agro testing. Its assurance division provides product inspections, audits, certifications, training, and advisory services for items across food, consumer goods, healthcare, and cosmetics industries. Other specialized areas are biopharma and clinical diagnostics. Furthermore, Eurofins conducts comprehensive consumer product testing, covering compliance, audits, examinations, certifications, inspections, training programs, and digital media and cybersecurity solutions for a diverse range of sectors. It also specializes in cosmetics and personal care product analysis, and environmental testing for substances like water, air, soil, waste, and other materials. Food and feed testing is another key segment, addressing concerns such as allergens, GMOs, grain quality, meat composition, nanomaterials, pesticides, and residual DNA. The company's extensive food-related portfolio also includes audit and certification services, authenticity verification, carbohydrate analysis, consulting, detection of dioxins and persistent organic pollutants (POPs), food irradiation checks, labeling compliance, legal guidance, heavy metal screening, identity preservation, mealtime analysis, molecular and microbiology testing, mycotoxin detection, nutritional profiling, organic contaminant analysis, packaging and migration studies, radioactivity testing, rapid testing methods, sensory and consumer research, various training initiatives, veterinary drug residue screening, and vitamin content analysis. Beyond these, Eurofins offers expertise in forensic science, genomics, maritime applications, materials and engineering, REACH compliance, and advanced technologies. The company maintains a significant global presence, operating roughly 900 laboratories across 54 nations. Established in 1987, its main office is situated in Luxembourg City, Luxembourg.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2024 filing.
Revenue
7.0B
FY 2024 · Reported
Net income
0.4B
FY 2024 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
0.9B
FY 2024 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
N/A
FY — · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Global laboratory network footprint
More than 950 laboratories in 60 countries worldwide
“With more than 950 laboratories in 60 countries across the world, Eurofins is uniquely positioned to globally and optimally deliver best-in-class results”
Decentralised entrepreneurial structure
Decentralised group of independent companies led by fully empowered Managing Directors
“Eurofins has opted for an entrepreneurial, decentralised business structure, comprised of many independent companies. Each of these companies is led by a fully empowered Managing Director”
Clinical testing clients
Clinical testing clients include hospitals, academic medical institutions, organ procurement organisations, tissue banks, dialysis centres, biopharma companies, independent physicians and direct-purchase consumers
“Eurofins companies' clinical testing clients include hospitals, academic medical institutions, organ procurement organisations, tissue banks, dialysis centres, biopharma companies, independent physicians and consumers”
PFAS testing leadership
Leading PFAS testing network across US, Europe, Australia plus Canada, Japan, South Korea, Taiwan, New Zealand
“Eurofins’ extensive network of PFAS testing laboratories, which holds leading positions in terms of capacity and samples processed in the U.S., Europe and Australia”
Food and feed testing – global leader
Global leader in food and feed testing with more than 130,000 validated analytical methods
“The Eurofins network of companies is the global leader in food and feed testing”
Clinical diagnostics services
Leader in clinical diagnostics testing particularly in Europe and the U.S.; specialised sub-segments: transplantation, pre-natal, genetics, dialysis, cardiac, infectious diseases
“Eurofins companies are leaders in clinical diagnostics testing, particularly in Europe and the U.S.”
Environment testing – largest network
Largest and most comprehensive environment testing network globally, with full-service capabilities across Europe, North and South America, and Asia-Pacific
“the Eurofins network of Environment Testing laboratories is the largest and most comprehensive in the world”
Microplastics testing network
Microplastics testing labs in six countries; Melbourne lab first ISO 17025-accredited globally (June 2024)
“Eurofins has increased its footprint and offering related to microplastics testing with laboratories now operating in six counties: Australia, Hungary, Norway, Spain, USA, and Vietnam”
IVD / Gold Standard Diagnostics rapid test kits
Gold Standard Diagnostics: SENSIStrips, PowerLine allergen tests, Mpox PCR assay, canine allergy ELISA and Hailstorm analyser
“multiple rapid testing products (SENSIStrips) were launched for mycotoxins field testing, completed with portable equipment, enabling the detection of aflatoxin and deoxynivalenol contamination in various cereals and crops in just 7 minutes”
CDMO services
Eurofins CDMO network provides assay-to-manufacturing services including IND/NDA filings, clinical trial materials, multi-step syntheses and highly potent API development
“With a global network of regulatory expertise, the Eurofins CDMO network provides high-quality, customised solutions for complex products and unique production processes”
Revenue by geography FY2024 vs FY2023
Europe €3,549m (51%), North America €2,660m (38%), Rest of the World €742m (11%), total €6,951m FY2024
“Europe 3,549 51% 3,306 51% +7.3%”
SYNLAB Spain clinical diagnostics acquisition
Agreement to acquire SYNLAB's clinical diagnostics operations in Spain, expected to close 2025
“The agreement to acquire SYNLAB’s clinical diagnostics operations in Spain, expected to close in 2025”
31 business combinations completed in FY2024
31 business combinations (18 entities, 13 assets), €343m net cash outflow; acquired revenues €225m total, adjusted EBITDA €34m
“During FY 2024, the Group completed 31 business combinations consisting of 18 acquisitions of entities and 13 acquisitions of assets for a total investment of €343m.”
Post-closing acquisitions since beginning of 2025
Four business combinations completed since start of 2025; ~€6m 2024 revenues; €9m aggregate price
“Since the beginning of 2025, the Group completed four business combinations. The total annual revenues of these acquisitions amounted to approximately €6m in 2024 for an aggregate acquisition price of €9m.”
Programme to own laboratory sites
€154m spent in FY2024 on purchase/development of owned sites as part of programmes to own its laboratory sites
“significant growth capex and discretionary investments as part of Eurofins’ programmes to own its laboratory sites, which totalled €154m in FY 2024 vs €152m in FY 2023”
Environment testing competitors
Environment testing competitors: SGS, Bureau Veritas, ALS, Montrose Environmental Group, plus private equity-backed firms in each geography
“Publicly listed competitors in the environment testing market include SGS, Bureau Veritas, ALS and Montrose Environmental Group”
Food & feed testing competitors
Food and feed testing competitors: ALS, Bureau Veritas, SGS, Intertek (publicly listed), plus several private companies
“Eurofins companies consider ALS, Bureau Veritas, SGS and Intertek to be publicly listed competitors in the Food and Feed testing market”
CDMO market competitors
CDMO competitors: Catalent (Novo Holdings), Lonza, Patheon (Thermo Fisher), Curia, Cambrex
“Eurofins companies consider Catalent (Novo Holdings), Lonza and Patheon (Thermo Fisher) to be publicly listed competitors in the CDMO market”
Clinical diagnostics peers
Clinical diagnostics peers cited by analysts include Synlab, Cerba, Unilabs, LabCorp, Quest Diagnostics, Sonic Healthcare, Natera, Guardant Health, CareDx, among others
“Financial analysts typically cite Synlab, Cerba, Unilabs, LabCorp, Quest Diagnostics, Sonic Healthcare... as comparable peers to Eurofins' clinical diagnostics activities”
Upcoming EU wastewater directive
Wastewater contaminant testing expected to expand due to upcoming EU wastewater directive
“a fast-growing market that is expected to continue expanding due to an upcoming wastewater EU directive”
Discontinued activities / re-evaluation of marginal activities
Discontinued activities in Belgium, Sweden and Portugal
“bolstered by the discontinuation of business activities in Belgium, Sweden and Portugal as part of the previously announced ongoing re- evaluation by Eurofins of some of its more marginal activities”
Divestment of marginal activities FY2024
Divested/discontinued small businesses with €7m consolidated revenues in FY2024 (€32m FY2023); loss on disposal €24m
“the Group divested or discontinued some small businesses that contributed consolidated revenues of €7m in FY 2024 and €32m in FY 2023”
European Environment Testing record sales
Environment Testing Europe set new sales records in 2024 on PFAS, water testing and market share gains
“The Environment Testing business in Europe set new sales records in 2024, driven by market share gains”
European Food and Feed Testing recovery
Food and Feed Testing Europe recovering toward 6.5% organic growth mid-term objective
“in line with Eurofins’ mid-term objective of 6.5% organic growth”
Food and feed testing demand drivers
Food testing demand driven by food scares, QC globalisation, consumer safety demand, lab outsourcing, fraud, and regulation (EU CLP, EU REACH, US FSMA)
“one of the single largest drivers continues to be regulation, especially in the EU and the U.S.”
Environment testing demand drivers
Environment testing driven by ESG focus, stringent regulation, and detection of persistent 'forever chemicals'
“significant progress in epidemiology and medicine leading to an increasingly long list of compounds identified as persistent or 'forever chemicals'”
Addressable market sizes
Addressable testing markets: genetics/specialised clinical ca. €5-10bn; food & feed ca. €4bn; environment ca. €5bn; clinical diagnostics market expected to grow at 6.9% CAGR 2024-2032, reaching $468bn by 2032
“the clinical diagnostic market is expected to grow at 6.9% CAGR 2024-2032”
IT digitalisation and lab productivity programs
Proprietary IT full deployment by end-2026; next-gen LIMS and automation benefits by 2027; AI solutions in development
“should be fully deployed throughout the region by the end of 2026 to replace and reduce a vast array of costly and less- efficient legacy IT solutions”
Decentralised entrepreneurship model and digitalisation investment
Decentralised entrepreneur-led structure; long-term investment programme aimed at becoming fully digital; Operational Best Practice and Permanent Improvement Programmes (PIP)
“Eurofins' decentralised structure of entrepreneur-led companies promotes closer relationships with, and more individualised services for clients”
Start-up/greenfield strategy in new and emerging markets
Green-field labs in new/emerging markets where acquisitions limited, or to transfer R&D technology and complete hub-and-spoke network
“Start-ups or green-field laboratory projects are generally undertaken in new markets and, in particular, in emerging markets, where there are often limited viable acquisition opportunities”
Margin drivers: price increases, volume growth, cost control
European and regional margin increases driven by sustained price increases, volume growth, and contained consumables, building and personnel costs
“margin increases were driven by sustained price increases and good volume growth, contained consumables costs, flat building costs and controlled personnel expenses”
Bond refinancing and average interest rate FY2024
Net finance costs €127m in FY2024 (€107m FY2023); €448m 2.125% Eurobond redeemed June 2024, refinanced by €600m 4.75% Eurobond due Sept 2030; average interest rate ~3.3%
“the redemption of a €448m Eurobond in June 2024 with an annual fixed rate coupon of 2.125% that was refinanced by a €600m senior unsecured Eurobond issued in August 2023 and due in September 2030 that bears an annual fixed rate coupon of 4.75%”
Self-financing of capital commitments
Eurofins was able to self-finance all its capital commitments from its own cash generation in FY 2024, excluding share buy-backs
“Excluding the substantial cash allocated for opportunistic share repurchases, Eurofins was able to self-finance all its capital commitments from its own cash generation in FY 2024.”
French clinical testing reimbursement cuts
France reimbursement cuts Sept 2024; no price adjustments in 2025, slightly positive in 2026-2027
“counter the effects of the reimbursement cuts of September 2024 to routine clinical testing in France”
Credit rating risk
Investment grade ratings: Moody's Baa3 (stable since Mar 2023), Fitch BBB- (stable); downgrade could raise funding costs
“Eurofins has secured an inaugural investment grade rating (Baa3, outlook stable since March 2023) by the credit rating agency Moody's since July 2020”
Weak funding for early-stage BioPharma trials
Weaker early-stage trial funding and agrochemical R&D spending cuts weighed on BioPharma/Agroscience services
“Eurofins has been hampered by weaker funding for early-stage trials, though some recovery is expected in 2025”
Liquidity risk and funding structure
Liquidity backed by credit facilities and NEU CP market access since 2017; cash-pooling at holding level
“Eurofins also has access to the French NEU-CP (commercial paper) market since 2017, securing very competitive short term-funding backed by undrawn credit facility agreements”
Macroeconomic trends risk
Inflation, high interest rates, market slowdown, geopolitical instability could hurt margins, financial position and supply chain
“persistent inflation and high interest rates, global market slowdown, geo-political decisions that lead to conflicts or unstable economic conditions”
Rapid technological change risk
Bioanalytics subject to rapid technological change (digitalisation, automation, AI) that could render services less competitive or obsolete
“biologic, genomics, and medical testing are subject to increasingly rapid technological changes,for example related to digitalisation, automation and artificial intelligence”
Interest rate risk
Variable-rate credit lines exposed to rate rises; hedging via fixed-rate swaps/caps; no material hedging exposure as of 31 Dec 2024
“As of 31 December 2024, the Group had no material exposure to such hedging contracts.”
Quality of analytical tests risk
Analytical errors could trigger liability claims, criminal investigations, fines; mitigated by QMS audits, proficiency tests, liability limitation, insurance
“professional liability claims for substantial damages, • financial consequences, including payment of indemnities and fines”
M&A integration risk
M&A risk of misvaluation and poor integration; mitigated by due diligence, risk-adjusted ROI, holdback/earn-out clauses
“Improper integration of acquired businesses and consequent loss of clients”
Regulatory change risk on testing requirements
Changes to government testing requirements/deregulation could reduce demand and prices for Eurofins services
“changes to government policies and regulations related to testing requirements, impacting Eurofins companies' business or the business of their customers (e.g., deregulation”
Licenses, permits and accreditation risk
Loss or delay of licenses/accreditations could impact customer operations and cause loss of customers
“the failure to obtain or to renew, or the withdrawal or revocation of licenses, permits, approvals, or other authorisations”
Accounting and financial misstatement risk
Accounting errors/fraud could cause financial misstatement and impairment of acquired intangibles; mitigated by shared service centres and external audits
“impairment of intangible assets resulting from acquisitions that could significantly reduce attributable net profit and equity for a given period”
Patent and IP risk
Business partly dependent on patents and unpatented proprietary technology; patent litigation expense can be significant
“Eurofins also relies on unpatented proprietary technology, and there can be no assurance that others will no”
Natural and human hazards risk
Natural disasters and lab fires could cause injuries, business interruption, loss of revenue; mitigated by continuity planning and insurance
“natural disasters such as floods, cyclones, earthquakes, and forest fires that could impact a Eurofins site or several sites at the same time”
Food and feed testing revenue relies on the largest global feed, food and beverage producers and retailers, from farmers to caterers.
“Eurofins companies count the majority of the largest global feed, food and beverage producers and retailers among their clients”
Persistent inflation and high interest rates raise personnel, materials and financing costs and pressure margins.
“persistent inflation and high interest rates”
Deregulation or relaxed testing requirements would reduce demand and prices for Eurofins' TIC services.
“deregulation, relaxation of required controls or reduction of required inspections, tests or certifications performed by TIC service providers”
Clinical diagnostics market demand is principally driven by demographics broadening the applicable market.
“The clinical diagnostics market is principally driven by demographics, which broadens the overall applicable market”
French reimbursement cuts in Sept 2024 pressure Clinical Diagnostics revenue; 2026-2027 tariff agreements foresee slight positive price adjustments.
“counter the effects of the reimbursement cuts of September 2024 to routine clinical testing in France”
Revenue variability driven by end-market demand across food, pharmaceutical, clinical and environmental analysis and macro headwinds including deglobalisation affecting clients' revenue development.
“regarding geopolitical conflicts and macroeconomic headwinds related to inflation and interest rate trends, deglobalisation and other factors that may affect end market demand”
Strong volume growth in Environment Testing and Food Testing in North America drove a 100bps YoY EBITDA margin increase
“strong volume growth in Environment Testing and Food Testing and sustained price increases... resulted in a 100bps year-on-year increase in reported EBITDA margin”
Upcoming EU wastewater directive expected to expand demand for wastewater contaminant testing.
“expected to continue expanding due to an upcoming wastewater EU directive”
Increasingly stringent regulatory requirements in developed and developing regions drive environment testing demand.
“increasingly stringent regulatory requirements in both developed and developing regions”
Variable-rate credit facilities expose Eurofins to rising interest rates, affecting liquidity, financial position and operating results.
“as certain lines of credit are still based on variable rates, it cannot be excluded that the interest rate of these lines will rise in the future”
Tightening food regulation (EU CLP, EU REACH, US FSMA) drives demand for Eurofins' food testing services.
“More stringent rules imposing particular treatment of food imports, labelling, quality standards, pesticides or additives are regularly published and updated (e.g., EU CLP, EU REACH, US FSMA)”
Rapid technological change including digitalisation, automation and AI could make Eurofins services less competitive or obsolete if competitors innovate faster.
“for example related to digitalisation, automation and artificial intelligence”
Strong volume growth in Food Testing drove North America margin improvement
“strong volume growth in Environment Testing and Food Testing and sustained price increases”
Higher interest expenses on bonds (refinancing 2.125% bond with a 4.75% bond) raised net finance costs to €127m
“Net finance costs amounted to €127m in FY 2024, compared to €107m in FY 2023 due to higher interest expenses for bonds”
Strong volume growth in Environment Testing drove North America margin improvement
“strong volume growth in Environment Testing and Food Testing and sustained price increases”
Eurofins operates a CDMO network serving biopharma from discovery through commercialisation, one of its disclosed service families.
“the provision of clinical trial materials, including packaging and logistics. Eurofins companies have extensive capabilities in multi-step syntheses”
Geopolitical conflicts and unstable economic conditions may disrupt operations, supply chain and restrict market access.
“geo-political decisions that lead to conflicts or unstable economic conditions”
China was among the biggest contributors to profit growth in Rest of the World
“the biggest contribution to profit growth came from Australia, China and Taiwan, while India, Japan and Brazil were less dynamic”
Reported financial performance is exposed to foreign currency fluctuations both transaction and translation related; no hedging as of 31 Dec 2024.
“Eurofins' reported financial performance can be impacted by changes in foreign currencies (both transaction and translation related). Though the Group did not do so as of 31 December 2024”
Biopharma companies are a client group for both clinical testing and CDMO services.
“Eurofins companies' clinical testing clients include hospitals, academic medical institutions, organ procurement organisations, tissue banks, dialysis centres, biopharma companies”
Eurofins began developing AI-based solutions in Food and Feed Testing Europe to improve customer service and automate laboratory process steps.
“began the development of its first AI-based solutions that aims to significantly improve levels of customer service, automate various process steps in laboratories”
Lonza is cited as a publicly listed competitor in the CDMO market.
“Catalent (Novo Holdings), Lonza and Patheon (Thermo Fisher) to be publicly listed competitors in the CDMO market”
Australia named among biggest contributors to Rest of World profit growth
“the biggest contribution to profit growth came from Australia, China and Taiwan”
Taiwan named among biggest contributors to Rest of World profit growth
“the biggest contribution to profit growth came from Australia, China and Taiwan”
Quest Diagnostics is cited among comparable peers to Eurofins' clinical diagnostics activities.
“Financial analysts typically cite Synlab, Cerba, Unilabs, LabCorp, Quest Diagnostics, Sonic Healthcare”
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