Eurofins continued its strong showing in Q1 2023. Sales grew 7.1% yoy on an organic basis underpinned by the resilient nature of the core business (i.e. excluding COVID-19 related revenue). The group clocked organic growth across the three geographies. No wonder the share price reacted positively (up >2% at the time of writing). The management has reiterated the financial targets for 2023-27. We do not expect to make material changes to our estimates and retain our positive stock recommendation.
