Guerbet keeps cash-flow warning as China weighs on imaging sales

Guerbet ($GBT) reported revenue of €573.8 million for the first nine months of 2026, down 2.2% as reported and 1.3% at constant currencies and comparable scope. Third-quarter sales fell 3.6% on the comparable measure, with business outside China broadly flat. Changes to Chinese healthcare purchasing continued to depress demand, while Interventional Radiology grew 10.7% on the same comparable basis, partly offsetting weaker Diagnostic Imaging.

The contrast-agent manufacturer retained its 2026 forecast for flat or slightly lower comparable sales and a restated EBITDA margin around 8%, including roughly €35 million of Raleigh remediation costs. Free cash flow is still expected to be negative €50–70 million. Normal batch-release levels at Raleigh remain a year-end objective, and refinancing discussions with lenders continue; neither operational normalisation nor a new financing agreement was announced as completed.

Sources:

• GlobeNewswire