BOIRON : 2013 first quarter activity

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 (Unaudited data)

thousands of euros 2012 2013 Variation at current exchange rates Variation at constant exchange rates
France 74,188 84,720 +13.6% +13.6%
       
International : 54,904 73,751 +34.3% +35.0%
Incl. Europe excluding France 41,807 54,334 +30.0% +30.4%
Incl. North America 10,285 15,562 +51.3% +52.6%
Incl. Other countries 2,812 3,855 +37.1% +39.4%
Group Total 129,092 158,021 +22.4% +22.7%
thousands of euros 2012 2013 Variation at current exchange rates Variation at constant exchange rates
Non-proprietary Homeopathic Medicines 73,427 79,062 +7.7% +7.7%
OTC Specialties 55,576 78,866 +41.9% +42.5%
Other 0,089 0,093 +4.5% +3.4%
Group Total 129,092 158,021 +22.4% +22.7%

HIGHLIGHTS OF FIRST QUARTER

  • The growth in sales revenues was highlighted by a high level of worldwide pathology and the impact of the prices increase in 2012 on certain non-proprietary homeopathic medicines in France. Such prices increase, for the most part, will only impact the first two months of 2013.
  • On March 31st 2013, the group's cash balance amounted to ¤121.5 million versus ¤94.7 million on December 31st 2012, which is linked to the increase of the business activity during the fourth quarter of 2012.
  • The U.S. subsidiary signed a settlement agreement aimed to put an end to the legal proceeding relating to Children's Coldcalm® medicine in California.

That agreement, which is subject to the court's approval, provides for:

  • a commitment to change the advertising and packaging within a time limit of 24 months from the court final approval,
  • bearing the legal expense of the opposing party,
  • the reimbursement, based solely on a claim-made process, to consumers who purchased the medicine in California.

It should be noted that a provision of 1 million US dollars was recorded for this litigation in 2011, which we still believe corresponds to the risk incurred.

  • Based on first-quarter performance, the group confirms its target of further increases in business and profitability in 2013.

Next updates:

May 23, 2013 at 10:30 am, at Boiron headquarters : 20 rue de la Libération, 69110 Sainte-Foy-lès-Lyon : Mixed General Meeting.
June 5, 2013, after the approval by the Mixed shareholders' Meeting, proposed dividend (0.90 ¤ per share) will be paid out.
August 29, 2013, after the close of the stock market, publication of 2013 half-year financial information.
Financial information manager: Philippe MONTANT
Contact for financial information: Véronique BOUSCAYROL
Investor relations: +33 (0) 4.78.45.63.43 - e-mail: finances@boiron.fr
ISIN Code: FR0000061129 (BOI) - Bloomberg : BOI FP - Reuters : BOIR.PA
The group's financial information is online at : www.boiron.com

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