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  BOIRON company press release from 22/10/2021

  22/10/2021 - 15:00

Activity in the third quarter of 2021


(Unaudited data)

Development of business in the third quarter (variation at current exchange rates)

In thousands of euros 1st quarter 2nd quarter 3rd quarter
2021 2020 Var. 2021 2020 Var. 2021 2020 Var.
France 51,518 72,820 -29.3% 53,412 53,503 -0.2% 58,021 66,390 -12.6%
Europe (excluding France) 20,039 37,581 -46.7% 22,194 16,904 +31.3% 32,226 25,625 +25.8%
North America 17,657 40,272 -56.2% 17,723 21,094 -16.0% 23,314 21,534 +8.3%
Other countries 1,958 5,960 -67.2% 5,430 5,500 -1.3% 4,193 3,018 +38.9%
Group total 91,172 156,633 -41.8% 98,759 97,000 +1.8% 117,754 116,568 +1.0%

 

In thousands of euros 1st quarter 2nd quarter 3rd quarter
2021 2020 Var. 2021 2020 Var. 2021 2020 Var.
Non-proprietary Homeopathic Medicines 46,352 61,722 -24.9% 47,642 48,334 -1.4% 45,840 50,573 -9.4%
OTC Specialties 44,571 94,619 -52.9% 50,617 48,298 +4.8% 71,362 65,746 +8.5%
Other 249 292 -14.8% 500 368 +36.0% 552 248 +122.5%
Group total 91,172 156,633 -41.8% 98,759 97,000 +1.8% 117,754 116,568 +1.0%

Following the sharp decline recorded in the first quarter, revenues in the third quarter continued the trend observed in the second quarter with an increase of 1%.

Sales of non-proprietary medicines continued to decline in France, following the delisting of homeopathic medicines on January 1, 2021.

Specialities continued to grow. The reduction in winter specialities was offset by sales of new products and other specialities, in particular in the United States, Russia, Romania and Bulgaria.

Cumulative activity as of the end of september 2021

In thousands of euros 2021 2020 Variation at current
exchange rates
Variation at constant
exchange rates
France 162,951 192,713 -15.4% -15.4%
Europe (excluding France) 74,460 80,109 -7.1% -5.5%
North America 58,694 82,899 -29.2% -25.3%
Other countries 11,581 14,479 -20.0% -16.4%
Group total 307,685 370,200 -16.9% -15.5%

 

In thousands of euros 2021 2020 Variation at current
exchange rates
Variation at constant
exchange rates
Non-proprietary Homeopathic Medicines 139,834 160,628 -12.9% -12.3%
OTC Specialties 166,550 208,663 -20.2% -18.3%
Other 1,301 908 +43.3% +44.0%
Group total 307,685 370,200 -16.9% -15.5%

Total sales were down 16.9% over the period ending September 30, impacted by the sharp decline in the first quarter due to the delisting of homeopathic medicines in France, the global pandemic and the absence of winter illnesses.

Thanks to our innovation strategy, sales of new products continued to grow and amounted to around €27 million.

Outlook

We expect to see a further decline in sales of non-proprietary medicines in the fourth quarter versus 2020, following the delisting of homeopathic medicines in France.

Specialty sales will continue to benefit from further growth in new product sales, in particular thanks to the launch of a new range of dermo-cosmetics with organically grown Calendula in September in France, Italy, Spain, Belgium and China, as well as the distribution of Canéphron® in France from October, a traditional herbal medicine developed in partnership with German lab BIONORICA.

We still expect to see a significant decline in revenues over the year.

Full-year operating income will benefit from the comparison effect of the reorganization in France provisioned in 2020, as well as initial savings generated by the reorganization and continued savings on operating expenses.

It will also be boosted by the positive contribution of new product sales.

Although down compared to 2020, we expect to post positive full-year operating income.

We continue to put all our energy and determination into the promotion of Homeopathy in France and around the world.

Laboratoires BOIRON


Our next update:
January 20, 2022: at market close, publication of the sales revenue for the year 2021.
Person responsible for financial information: Valérie Lorentz-Poinsot
Contact for financial information: Fabrice Rey
Investor relations: +33 (0) 4.37.41.84.01 - e-mail : [email protected]
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