PCAS

Earnings Release • Apr 22, 2014

Longjumeau, April 22, 2014

Net sales

(in thousands of euros)	2013	2014	% change
Sales as of 31 March	43 033	42 053	-2,3%
including Pharmaceutical Synthesis	26 677	27 117	1,6%
including Fine Speciality Chemicals	16 356	14 936	-8,7%

Consolidated net sales for the PCAS Group are down 2.3% in the first quarter of 2014 compared to the same period for the previous year.

Pharmaceutical synthesis

Pharmaceutical Synthesis activities are continuing to develop in 2014, up 1.6% compared to the first quarter of 2013.

Fine Specialty Chemicals

Fine Specialty Chemicals net sales are down 8.7% compared to the first quarter of 2013, but up 23% compared to the last quarter of 2013.

Next meeting: Shareholders' meeting April 23, 2014, 10.00 a.m. in Longjumeau

About PCAS:

Founded in 1962, PCAS is an international fine and specialty chemicals group (165 million € net sales in 2013) that shares an ambition for excellence with its customers, which primarily include market-leading international groups. PCAS designs and delivers the best industrial solutions for its customers' specific expectations. These various expectations all share a common demand for safety, quality, competitiveness, innovation and sustainability. PCAS also develops ranges of proprietary products based on intellectual property.