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  BOIRON company press release from 23/01/2020

  23/01/2020 - 17:55

Activity in 2019


(Unaudited data)

 

QUARTERLY ACTIVITY IN 2019 (VARIATION AT CURRENT EXCHANGE RATES)

in thousands of euros 1st quarter 2nd quarter 3rd quarter 4th quarter
  2018 2019 Var. 19/18 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% 95,147 80,936 -14.9%
Europe (excluding France) 32,899 31,779 -3.4% 24,795 23,551 -5.0% 37,970 36,288 -4.4% 40,237 41,363 +2.8%
North America 29,617 23,580 -20.4% 14,958 17,081 +14.2% 18,685 20,342 +8.9% 25,140 26,669 +6.1%
Other countries 4,895 4,516 -7.7% 4,185 4,854 +16.0% 4,962 5,336 +7.5% 7,314 8,364 +14.4%
Group Total 159,393 143,315 -10.1% 121,137 113,403 -6.4% 155,844 143,073 -8.2% 167,838 157,332 -6.3%
                         
                         
in thousands of euros 1st,quarter 2nd,quarter 3rd,quarter 4th,quarter
  2018 2019 Var. 19/18 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% 74,178 67,688 -8.7%
OTC Specialties 82,506 73,845 -10.5% 50,791 48,871 -3.8% 89,097 81,777 -8.2% 93,183 89,256 -4.2%
Other 312 403 +29.2% 349 385 +10.3% 254 324 +27.6% 477 388 -18.7%
Group total 159,393 143,315 -10.1% 121,137 113,403 -6.4% 155,844 143,073 -8.2% 167,838 157,332 -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 euros 2018 2019 Variation at current exchange rates Variation at constant exchange rates
France, 358,555 313,400 -12.6% -12.6%
Europe (excluding France) 135,901 132,981 -2.1% -2.5%
North America 88,400 87,672 -0.8% -5.7%
Other countries 21,356 23,070 +8.0% +8.6%
Group total 604,212 557,123 -7.8% -8.6%
         
In thousands of euros 2018 2019 Variation at current exchange rates Variation at constant exchange rates
Non-proprietary Homeopathic Medicines 287,243 261,874 -8.8% -9.2%
OTC Specialties 315,577 293,749 -6.9% -8.1%
Other 1,392 1,500 +7.8% +7.8%
Group total 604,212 557,123 -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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  Original Source: BOIRON