(Unaudited data)

 

QUARTERLY ACTIVITY IN 2019 (VARIATION AT CURRENT EXCHANGE RATES)














in thousands of euros1st quarter2nd quarter3rd quarter4th quarter
 20182019Var. 19/1820182019Var. 19/1820182019Var. 19/1820182019Var. 19/18
France91,98283,440-9.3%77,19967,917-12.0%94,22781,107-13.9%95,14780,936-14.9%
Europe (excluding France)32,89931,779-3.4%24,79523,551-5.0%37,97036,288-4.4%40,23741,363+2.8%
North America29,61723,580-20.4%14,95817,081+14.2%18,68520,342+8.9%25,14026,669+6.1%
Other countries4,8954,516-7.7%4,1854,854+16.0%4,9625,336+7.5%7,3148,364+14.4%
Group Total159,393143,315-10.1%121,137113,403-6.4%155,844143,073-8.2%167,838157,332-6.3%
                         
                         
in thousands of euros1st,quarter2nd,quarter3rd,quarter4th,quarter
 20182019Var. 19/1820182019Var. 19/1820182019Var. 19/1820182019Var. 19/18
Non-proprietary Homeopathic Medicines76,57569,067-9.8%69,99764,147-8.4%66,49360,972-8.3%74,17867,688-8.7%
OTC Specialties82,50673,845-10.5%50,79148,871-3.8%89,09781,777-8.2%93,18389,256-4.2%
Other312403+29.2%349385+10.3%254324+27.6%477388-18.7%
Group total159,393143,315-10.1%121,137113,403-6.4%155,844143,073-8.2%167,838157,332-6.3%

The group's fourth-quarter sales were down 6.3 %, mainly in France, where sales dropped 14.9 %.

Sales outside France were up 5.2%, mainly in Russia, the United States, Czech Republic, Brazil, and Italy, but declined in Poland and Bulgaria.

 

CUMULATIVE ACTIVITY AS OF THE END OF DECEMBER 2019

in thousands of euros20182019Variation at current exchange ratesVariation at constant exchange rates
France,358,555313,400-12.6%-12.6%
Europe (excluding France)135,901132,981-2.1%-2.5%
North America88,40087,672-0.8%-5.7%
Other countries21,35623,070+8.0%+8.6%
Group total604,212557,123-7.8%-8.6%
         
In thousands of euros20182019Variation at current exchange ratesVariation at constant exchange rates
Non-proprietary Homeopathic Medicines287,243261,874-8.8%-9.2%
OTC Specialties315,577293,749-6.9%-8.1%
Other1,3921,500+7.8%+7.8%
Group total604,212557,123-7.8%-8.6%

 

In 2019, group sales decreased 7.8 %, hard hit by the 12.6 % drop in sales of non-proprietary and specialty medicines in France, where homeopathy is under public attack, and the government has announced a progressive end to reimbursement of homeopathic medications.

The decrease in sales in Europe (Spain, Poland, Belgium, and Romania) was partially offset by increased sales in Italy and Russia following an overhaul of the product offer.

The ongoing series of virulent and unjustified attacks on homeopathy in France, which is Boiron's biggest market, and Spain will seriously affect 2019 operating income, which is expected to be significantly lower than in 2018.

Naturally, we continue to resolutely pursue our efforts to obtain continued reimbursement of homeopathic treatments by the French national health insurance scheme. The current 15% reimbursement rate keeps these medications affordable for millions of patients, with no negative impact on the national health insurance scheme or their purchasing power.

We remain committed to obtaining recognition of these medications' benefits and effectiveness for patients and public health.

 

Laboratoires BOIRON


Our next update: March 11, 2020, after the close of the stock market, publication of 2019 results.
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 is online at: www.boironfinance.com



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