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  BOIRON company press release from 21/01/2022

  21/01/2022 - 17:30

2021 sales


(Unaudited data)

QUARTERLY ACTIVITY IN 2021 (VARIATION AT CURRENT EXCHANGE RATES)

in thousands of euros 1st quarter 2nd quarter 3rd quarter 4th quarter
2021 2020 Var. 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% 75,556 85,349 -11.5%
Europe (excluding France) 20,039 37,581 -46.7% 22,194 16,904 +31.3% 32,226 25,625 +25.8% 40,941 35,262 +16.1%
North America 17,657 40,272 -56.2% 17,723 21,094 -16.0% 23,314 21,534 +8.3% 25,156 17,854 +40.9%
Other countries 1,958 5,960 -67.2% 5,430 5,500 -1.3% 4,193 3,018 +38.9% 5,863 4,917 +19.2%
Group total 91,172 156,633 -41.8% 98,759 97,000 +1.8% 117,754 116,568 +1.0% 147,516 143,381 +2.9%
 
in thousands of euros 1st,quarter 2nd,quarter 3rd,quarter 4th,quarter
2021 2020 Var. 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% 55,133 69,244 -20.4%
OTC specialties* 44,571 94,619 -52.9% 50,617 48,298 +4.8% 71,362 65,746 +8.5% 91,550 73,968 +23.8%
Other 249 292 -14.8% 500 368 +36.0% 552 248 +122.5% 834 168 +394.8%
Group total 91,172 156,633 -41.8% 98,759 97,000 +1.8% 117,754 116,568 +1.0% 147,516 143,381 +2.9%

*Specialties: the specialties line includes test sales.

Following the sharp decline recorded in the first quarter, sales in the fourth quarter confirmed the trend observed in the second and third quarters, with an increase of 2.9%.

Sales of non-proprietary medicines continued to decline following the delisting from French health insurance on January 1, 2021. Specialties continued to grow thanks to sales of COVID tests (particularly in France and Belgium) and new products, as well as an increase in sales in the United States and Brazil.

The fourth quarter was also marked by:

  • the launch of Storinyl® in France, a homeopathic syrup traditionally used to treat symptoms of colds and dry and wet coughs,
  • the launch of Osmobiotic Immuno® in France, Italy and Belgium, a dietary supplement based on microbiotic strains and vitamin D to strengthen the immune system,
  • the start of distribution of Canéphron® in France, a traditional herbal medicine for the treatment of uncomplicated urinary problems, developed in partnership with German lab BIONORICA.

CUMULATIVE ACTIVITY AS OF THE END OF DECEMBER 2021

in thousands of euros 2021 2020 Variation at
current
exchange rates
Variation at
constant
exchange rates
France 238,506 278,062 -14.2% -14.2%
Europe (excluding France) 115,401 115,371 +0.0% +1.0%
North America 83,850 100,753 -16.8% -14.4%
Other countries 17,444 19,395 -10.1% -7.5%
Group total 455,201 513,582 -11.4% -10.6%
 
in thousands of euros 2021 2020 Variation at current
exchange rates
Variation at
constant
exchange rates
Non-proprietary Homeopathic Medicines 194,967 229,873 -15.2% -14.9%
OTC specialties 258,100 282,632 -8.7% -7.5%
Other 2,135 1,077 +98.3% +98.8%
Group total 455,201 513,582 -11.4% -10.6%

*Specialties: the specialties line includes test sales.

2021 full-year sales was down 11.4%, following the delisting of homeopathy from French health insurance on January 1, 2021 and the absence of winter pathologies in the first quarter due to the global health crisis.

This decline was limited thanks to sales of new products amounting to approximately €50 million, a significant portion of which was generated by sales of COVID tests, mainly in France and Belgium.

Given the increase in sales in the fourth quarter, 2021 operating income is expected to exceed that of 2020 (€38.2 million as reported). As a reminder, 2020 net operating income was strongly impacted by non-recurring negative items linked to the reorganization in France.

News

As part of its external growth strategy and business development, Laboratoires BOIRON today announces the signing of an agreement for the acquisition of a 70% majority stake in ABBI, a start-up specialized in personalized and customized cosmetics. This acquisition will come into effect no later than February 28, 2022 subject to conditions precedent. The purchase price for the acquisition is €1.75 million, to which an earn-out may be added depending on ABBI's performance. On June 30, 2025, Laboratoires BOIRON will purchase the remaining 30% for an amount also depending on ABBI's performance. These amounts will be financed by Group equity.

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: March 9, 2022, after the close of the stock market, publication of 2021 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