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  BOIRON company press release from 24/10/2019

  24/10/2019 - 18:45

ACTIVITY IN THE THIRD QUARTER OF 2019


(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


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  Original Source: BOIRON