PCAS

Earnings Release • Oct 16, 2012

QUARTERLY FINANCIAL INFORMATION AT SEPTEMBER 30TH, 2012

Longjumeau, October 16 th, 2012

Net sales up 7% at September 30th, 2012

(in thousands of euros)	2011	2012	% change
First Quarter	44,053	42,728	- 3.0%
including Pharmaceutical Synthesis	27,147	25,454	- 6.2%
including Fine Speciality Chemicals	16,906	17,274	+ 2.2%
Second Quarter	41,789	46,633	+ 11.6%
including Pharmaceutical Synthesis	26,457	29,910	+ 13.1%
including Fine Speciality Chemicals	15,332	16,723	+ 9.1%
Third Quarter	33,481	38,355	+ 14.6%
including Pharmaceutical Synthesis	19,530	23,298	+ 19.3%
including Fine Speciality Chemicals	13,951	15,057	+ 7.9%
Total as of 30 September	119,323	127,716	+ 7.0%
including Pharmaceutical Synthesis	73,134	78,662	+ 7.6%
including Fine Speciality Chemicals	46,189	49,054	+ 6.2%

Following a stronger level of business during the third quarter of 2012 compared with the same period in 2011, the PCAS Group's net sales are up 7.0% at September 30th, 2012.

Pharmaceutical Synthesis

Net sales for the third quarter of 2012 came in 19.3% higher than the third quarter of 2011, reflecting the exceptionally concentrated volume of deliveries over this period in 2012.

Fine Specialty Chemicals

The Fine Specialty Chemicals business has continued to grow (+7.9% in the third quarter of 2012 versus the third quarter of 2011), despite the Fragrance business underperforming.

Compared with 2011, fourth-quarter net sales are expected to see significant growth on Pharmaceutical Synthesis, although without reaching the third quarter's exceptional rate of growth. For Fine Specialty Chemicals, the overall level of business looks set to be stable in the fourth quarter.

On the whole, net sales growth in 2012 is expected to closely follow the trend observed at the end of September 2012.

About PCAS :

Founded in 1962, PCAS is a fine and specialty chemicals group 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.