BOIRON (Unaudited data)
- DEVELOPMENT OF BUSINESS IN THE THIRD QUARTER (VARIATION AT CURRENT EXCHANGE RATES)
| In thousands of euros | 1st quarter | 2nd quarter | 3rd quarter | ||||||
| 2018 | 2019 | Var. 19/18 | 2018 | 2019 | Var. 19/18 | 2018 | 2019 | Var. 19/18 | |
| France | 91,982 | 83,440 | -9.3% | 77,199 | 67,917 | -12.0% | 94,227 | 81,107 | -13.9% |
| Europe (excluding France) | 32,899 | 31,779 | -3.4% | 24,795 | 23,551 | -5.0% | 37,970 | 36,288 | -4.4% |
| North America | 29,617 | 23,580 | -20.4% | 14,958 | 17,081 | +14.2% | 18,685 | 20,342 | +8.9% |
| Other countries | 4,895 | 4,516 | -7.7% | 4,185 | 4,854 | +16.0% | 4,962 | 5,336 | +7.5% |
| Group total | 159,393 | 143,315 | -10.1% | 121,137 | 113,403 | -6.4% | 155,844 | 143,073 | -8.2% |
| In thousands of euros | 1st quarter | 2nd quarter | 3rd quarter | ||||||
| 2018 | 2019 | Var. 19/18 | 2018 | 2019 | Var. 19/18 | 2018 | 2019 | Var. 19/18 | |
| Non-proprietary Homeopathic medicines | 76,575 | 69,067 | -9.8% | 69,997 | 64,147 | -8.4% | 66,493 | 60,972 | -8.3% |
| OTC Specialties | 82,506 | 73,845 | -10.5% | 50,791 | 48,871 | -3.8% | 89,097 | 81,777 | -8.2% |
| Other | 312 | 403 | +29.2% | 349 | 385 | +10.3% | 254 | 324 | +27.6% |
| Group total | 159,393 | 143,315 | -10.1% | 121,137 | 113,403 | -6.4% | 155,844 | 143,073 | -8.2% |
The group's third-quarter sales were down 8.2%, mainly in France where sales dropped 13.9%. The situation in Europe shows sharp contrasts, with sales increasing in Italy and decreasing in Spain. In North America, the United States posted a significant increase in sales.
- CUMULATIVE ACTIVITY AS OF THE END OF SEPTEMBER 2019
| In thousands of euros | 2018 | 2019 | Variation at current exchange rates | Variation at constant exchange rates |
| France | 263,408 | 232,464 | -11.7% | -11.7% |
| Europe (excluding France) | 95,664 | 91,618 | -4.2% | -4.2% |
| North America | 63,260 | 61,003 | -3.6% | -8.9% |
| Other countries | 14,042 | 14,706 | +4.7% | +5.1% |
| Group total | 436,374 | 399,791 | -8.4% | -9.1% |
| In thousands of euros | 2018 | 2019 | Variation at current exchange rates | Variation at constant exchange rates |
| Non-proprietary Homeopathic medicines | 213,065 | 194,186 | -8.9% | -9.2% |
| OTC Specialties | 222,394 | 204,493 | -8.0% | -9.2% |
| Other | 915 | 1,112 | +21.5% | +21.5% |
| Group total | 436,374 | 399,791 | -8.4% | -9.1% |
At the end September, group sales were down 8.4%, hard hit by the 11.7% drop in sales of Non-proprietary Homeopathic medicines and Specialties in France, where homeopathy is under attack.
In Europe, the decrease in sales in Spain, Belgium, and Poland was partially offset by increased sales in Italy and Bulgaria.
In North America, sales were up in the second and third quarters but cumulative turnover is still down due to the drop in first quarter sales.
2019 year-end outlook
In light of the virulent and unfounded attacks against homeopathy in France and Spain, the decrease in sales is expected to continue in the fourth quarter. 2019 operating income will therefore be significantly lower than in 2018.
News
An initial report on homeopathy, drafted in 2012 by Australia's main public research institute, the National Health and Medical Research Council, but buried until recently, established that there is “encouraging evidence for the effectiveness of homeopathy” for several pathologies: middle ear infections, upper respiratory infections in adults, and certain side-effects of cancer treatment.
This information, which was released in late August 2019, is particularly important because it was covered up in the report published in 2015. In many countries, including France during the evaluation of homeopathic medicines, this abbreviated report has been widely used to discredit homeopathy and homeopathic medicines.
Following the publication of two decrees on changes to French national insurance coverage of homeopathic medicines on August 31, please note that they will remain eligible for reimbursement until January 1, 2021.
Alongside LEHNING Laboratories, we have also filed an appeal with the Council of State to have these decrees canceled.
We remain committed to obtaining recognition of homeopathy's benefits and effectiveness for patients and for public health.
Laboratoires BOIRON
Our next update:
January 23, 2020: at market close, publication of the sales revenue for the year 2019.
Person responsible for financial information: Valérie Lorentz-Poinsot
Contact for financial information: Fabrice Rey
Investor relations: +33 (0) 4.78.45.63.43 - e-mail : boironfinances@boiron.fr
ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA
The group's financial information and the glossary are online at: www.boironfinance.com
Quarterly financial reporting:
- Third quarter financial report
Full and original press release in PDF:
https://www.actusnews.com/documents_communiques/ACTUS-0-60731-boi-241019-ca-t3-19-gb.pdf
© 2019 ActusNews
