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  Communiqué de la société BOIRON du 21/01/2021

  21/01/2021 - 17:45

ACTIVITY IN 2020


(Unaudited data)

QUARTERLY ACTIVITY IN 2020 (VARIATION AT CURRENT EXCHANGE RATES)

in thousands of euros 1st quarter 2nd quarter 3rd quarter 4th quarter
  2020 2019 Var. 2020 2019 Var. 2020 2019 Var. 2020 2019 Var.
France 72,820 83,440 -12.7% 53,503 67,917 -21.2% 66,390 81,107 -18.1% 85,349 80,936 +5.5%
Europe (excluding France) 37,581 31,779 +18.3% 16,904 23,551 -28.2% 25,625 36,288 -29.4% 35,262 41,363 -14.8%
North America 40,272 23,580 +70.8% 21,094 17,081 +23.5% 21,534 20,342 +5.9% 17,854 26,669 -33.1%
Other countries 5,960 4,516 +32.0% 5,499 4,854 +13.3% 3,019 5,336 -43.4% 4,917 8,364 -41.2%
Group total 156,633 143,315 +9.3% 96,999 113,403 -14.5% 116,568 143,073 -18.5% 143,381 157,332 -8.9%
                         
                         
in thousands of euros 1st,quarter 2nd,quarter 3rd,quarter 4th,quarter
  2020 2019 Var 2020 2019 Var. 2020 2019 Var. 2020 2019 Var.
Non-proprietary Homeopathic Medicines 61,722 69,067 -10.6% 48,334 64,147 -24.7% 50,573 60,972 -17.1% 69,244 67,688 +2.3%
OTC Specialties 94,619 73,845 +28.1% 48,298 48,871 -1.2% 65,746 81,777 -19.6% 73,968 89,256 -17.1%
Other 292 403 -27.3% 367 385 -4.6% 248 324 -23.4% 168 388 -56.6%
Group total 156,633 143,315 +9.3% 96,999 113,403 -14.5% 116,568 143,073 -18.5% 143,381 157,332 -8.9%

CUMULATIVE ACTIVITY AS OF THE END OF DECEMBER 2020

in thousands of euros 2020 2019 Variation at current
exchange rates
Variation at constant
exchange rates
France 278,062 313,400 -11.3% -11.3%
Europe (excluding France) 115,371 132,981 -13.2% -11.2%
North America 100,753 87,672 +14.9% +17.3%
Other countries 19,395 23,070 -15.9% -8.1%
Group total 513,582 557,123 -7.8% -6.6%
         
In thousands of euros 2020 2019 Variation at current
exchange rates
Variation at constant
exchange rates
Non-proprietary Homeopathic Medicines 229,873 261,874 -12.2% -11.9%
OTC Specialties 282,632 293,749 -3.8% -1.8%
Other 1,077 1,500 -28.2% -27.0%
Group total 513,582 557,123 -7.8% -6.6%

Change in revenue

In the fourth quarter of 2020, the group's revenues were down 8.9%. This decrease mainly relates to specialities for winter illnesses: due to the health crisis and restrictions imposed in most countries, the level of winter illnesses has significantly declined over the period.

Sales were up 5.5% in France, however, driven by:

  • new product launches, including an innovative range of probiotics, Osmobiotic Flora®, and two homeopathic specialties, Bocéal® and Cocyntal®,
  • the increase in sales of non-proprietary medicines in December.

In Russia and North America, the decrease in specialties sales was driven by sharp declines in the ruble (exchange rate impact: -12% on sales) and the dollar (exchange rate impact: -7% on sales) over the period.

In 2020, despite strong growth in North America, the group's revenues fell 7.8%, significantly impacted by a reduction in sales of non-proprietary medicines in France and specialties in Russia.

News

The considerable decline in business in France over the past two years (down 30%) has prompted a reorganization plan, as announced on March 11, 2020.

This reorganization in France will result in the elimination of 566 positions and the creation of 122.

Based on the information currently available, the cost of this reorganization plan is now estimated at around €64 million, €59 million of which will be subject to a provision in 2020 pursuant to applicable accounting standards. Meanwhile, provision write-backs for 2020 as a result of the reduction in employee commitments under this reorganization plan is now estimated at around €26 million.

The delisting of homeopathic medicines from French Social Security has been effective since January 1, 2021. Many private health insurers offer full or partial coverage of homeopathic medicines.

We remain committed to promoting recognition of the benefits and merits of these medecines for all patients and for public health. Thus, starting this week, BOIRON is making its voice heard with a general public communication to promote the specificity of homeopathy and its place in the daily life of the French.

Outlook

Annual operating income for 2020 is expected to be lower than in 2019, significantly impacted by estimated costs relating to the reorganization.

Laboratoires BOIRON


Our next update: March 10, 2021, after the close of the stock market, publication of 2020 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 : [email protected]
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