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  BOIRON company press release from 05/09/2018

  05/09/2018 - 17:45

2018 half-year results


(Data have been the subject to a limited review by the statutory auditors)

The Board of Directors, at its meeting of September 5, 2018, made up the half-year statutory and consolidated financial statements.

in thousands of euros 2017 2018 Variation
Sales (1) 284,668 280,530 -1.5% (2)
Operating income 41,066 35,380 -13.8%  
Net income - group share 24,873 21,605 -13.1%  
Cash flow (3) 51,187 43,753 -14.5%  
Net investments 27,656 18,933 -31.5%  
Net cash position 211,977 181,276 -14.5%  

(1) The main information on the variation of the half-year sales were the subject of a financial statement on July 19, 2018 (
(2)  +0.9% at constant exchange rate.
(3) Before cash revenue, financing expenses and corporate income tax.

On June 30, 2018, the decrease of the operating income by €5.7 million in comparison to 2017, is due to the decrease of sales and the significant increase of the industrial production costs which shows all the investments and developments efforts. The operating income also includes the capital gain of the sale of the establishment of Levallois for €6.2 million. In the first half of 2017, a capital gain of €3.3 million was recorded for the sale of the establishment of Lyon 8th arrondissement.

In accordance with the share buyback program, the Board of Directors of September 5, 2018 decided to reallocate the shares bought back for the purpose of financing external growth operations to the cancellation objective.
The Board also decided to cancel, subject to the suspensive condition of obtaining an exemption to file a public offer, all the treasury shares on September 5, 2018, i.e. 1 849 196 shares, in accordance with the authorization given by the Extraordinary Shareholders' Meeting of May 18, 2017.

For 2018, in the event of a weak pathology at the end of the year, the operating income could be down in comparison to that of 2017.

We carry on the development of homeopathy in the world with the same confidence and the same determination.

Laboratoires BOIRON

The half-year accounts were subjected to a limited review by statutory auditors. The half-year report including information on activities and results of the first half-year and the 2018 outlook was published in line with the provisions of Article 221-3 of the French Financial Market Authority [AMF]. It is available on the company's website (
Additional informations on the half-year results are presented in the slides of the information meeting of Thursday 6 September and available on the company's website (

Our next update:
October 18, 2018, at market close, publication of quarterly sales and financial information as of September 30, 2018.
Person responsible for financial information: Christian Boiron
Contact for financial information: Véronique Bouscayrol
Investor relations: +33 (0) - e-mail:
ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA
The group's financial information is online at: