Eurofins Responds to Muddy Waters Report

On June 25, 2024, Eurofins Scientific SE addressed allegations made by Muddy Waters, LLC, a short-selling firm. Muddy Waters' report criticizes Eurofins' financial practices, but Eurofins claims these assertions are inaccurate and misleading.

Key points of contention include improper comparisons in acquisitions, alleged irregularities in cash reporting, and misguided claims about internal control practices. Eurofins insists its acquisitions and financial reporting are transparent and compliant with industry standards.

Eurofins emphasizes its robust financial health, including the early redemption of a €448 Eurobond, a practice of thorough audits, and a strict corporate governance framework. The company remains confident in its financial integrity and operational policies.

CEO Dr. Gilles Martin refuted the accusations, stressing Eurofins' commitment to integrity and transparency. He criticized Muddy Waters for what he sees as a lack of understanding of Eurofins' operations and financial practices.