Guerbet: Antoine Fady Appointed to Succeed Hugues Lecat as Chairman
Guerbet announces the appointment of Antoine Fady as censor effective immediately, decided during the Board of Directors meeting on March 11, 2026. He will succeed Hugues Lecat as chairman of the group, subject to approval by the General Assembly.
Today, the Guerbet Board of Directors appointed Antoine Fady as censor with immediate effect. Mr. Fady's nomination as a board member will be submitted for approval at the next General Assembly. Following this General Assembly, it will be proposed to the Guerbet Board of Directors to appoint Mr. Antoine Fady as Chairman, replacing Mr. Hugues Lecat, who has expressed a desire to step down for personal reasons.
Professional Background of Antoine Fady
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A graduate engineer from the École Nationale Supérieure des Mines de Saint-Étienne and holding an MBA from INSEAD, Antoine Fady has over ten years of experience as the CEO of Flint Group. He previously held several senior management positions at ICI and then at Akzo Nobel, particularly in the paints and coatings activities in Europe. He also has governance experience as a non-executive director and chairman of the board, notably at Roquette and XSYS, where he chaired the Board of Directors from 2021 to 2024.
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SectorDispositifs médicaux et optique›Dispositifs médicaux / imagerie
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 573,8 millions d'euros
Quarterly revenue: 573,8 millions d'euros
Revenue growth: -2,2 %
Guidance from the release
Strongly negative free cash flow of between -€50 million and -€70 million, due to the expected decrease in restated EBITDA, the increase in the CAPEX plan and non-recurring restructuring costs
Risks mentioned
Ongoing contraction in sales in China due to policy to sharply reduce healthcare spending and gradual elimination of intermediaries
Planned slowdown in subcontracting activities at Gadopiclenol production site with Fill & Finish ending at end-2026
Continued normalisation at Raleigh industrial site with restructuring costs and redundancy plan in France
Opportunities identified
Strong momentum in Interventional Radiology business, up 6.6% with Lipiodol® driving growth in vascular embolization market
Recovery in activity in France and positive contribution from EMEA, Americas and Asia regions excluding China
Dynamic sales of Elucirem™ product offsetting some of the decline in other divisions
Outlook / guidance
Management commentary: For 2026, the Group's targets are: Revenue stable or showing a slight decrease at CER and on a like-for-like basis. Restated EBITDA margin rate of around 8%, including around €35 million related to the costs of the remediation plan at the Raleigh site. Strongly negative free cash flow of between -€50 million and -€70 million, due to the expected decrease in restated EBITDA, the increase in the CAPEX plan and non-recurring restructuring costs linked to the Group's transformation plan, including in particular the redundancy plan in France.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
