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BOIRON Earnings Release 2019
1161_iss_2019-07-18_09424d7b-683a-4a30-a7ec-24bb4cf57049.pdf
Earnings Release
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2019 HALF-YEAR BOIRON ACTIVITY
(Unaudited data)
• CUMULATIVE ACTIVITY AS OF THE END OF JUNE 2019
| In thousands of euros | 2018 | 2019 | Variation at current exchange rates |
Variation at constant exchange rates |
|
|---|---|---|---|---|---|
| France | 169,181 | 151,357 | -10.5% | -10.5% | |
| Europe (excluding France) | 57,694 | 55,330 | -4.1% | -3.6% | |
| North America | 44,575 | 40,661 | -8.8% | -14.4% | |
| Other countries | 9,080 | 9,370 | +3.2% | +4.7% | |
| Group total | 280,530 | 256,718 | -8.5% | -9.2% | |
| In thousands of euros | 2018 | 2019 | Variation at current |
Variation at constant |
|
| Non-proprietary Homeopathic Medicines | 146,572 | 133,214 | exchange rates -9.1% |
exchange rates -9.5% |
|
| OTC Specialties | 133,297 | 122,716 | -7.9% | -9.1% | |
| Other | 661 | 788 | +19.2% | +19.2% | |
| Group total | 280,530 | 256,718 | -8.5% | -9.2% |
• ACTIVITY BY QUARTER (variation at current exchange rates)
| In thousands of euros | st quarter 1 |
nd quarter 2 |
||||
|---|---|---|---|---|---|---|
| 2018 | 2019 Var. 19/18 | 2018 | 2019 Var. 19/18 | |||
| France | 91,982 | 83,440 | -9.3% | 77,199 | 67,917 | -12.0% |
| Europe (excluding France) | 32,899 | 31,779 | -3.4% | 24,795 | 23,551 | -5.0% |
| North America | 29,617 | 23,580 | -20.4% | 14,958 | 17,081 | +14.2% |
| Other countries | 4,895 | 4,516 | -7.7% | 4,185 | 4,854 | +16.0% |
| Group total | 159,393 | 143,315 | -10.1% | 121,137 | 113,403 | -6.4% |
| In thousands of euros | st quarter 1 |
nd quarter 2 |
||||
| 2018 | 2019 | Var. 19/18 | 2018 | 2019 | Var. 19/18 | |
| Non-proprietary Homeopathic Medicines | 76,575 | 69,067 | -9.8% | 69,997 | 64,147 | -8.4% |
| OTC Specialties | 82,506 | 73,845 | -10.5% | 50,791 | 48,871 | -3.8% |
| Other | 312 | 403 | +29.2% | 349 | 385 | +10.3% |
| Group total | 159,393 | 143,315 | -10.1% | 121,137 | 113,403 | -6.4% |
In the second quarter, the decrease of the group's sales is of 6.4% (-7.2% at constant exchange rates). This decrease comes mainly from France where sales fell by -12.0%. Excluding France, sales increased by 3.5%.
In the first half year, group's sales are down by 8.5% (-9.2% at constant exchange rates).
In France, where homeopathy is subject of unjustified and discriminatory attacks, sales decreased by 10.5%.
The government announced its intention to diminish the reimbursement rate of homeopathic medicines to 15% from January 1, 2020 and to put an end to the reimbursement from January 1, 2021.
Depriving the patients and health professionals of this freedom of choice is completely inconsistent with the major issues of public health and needs of French citizens. Furthermore, they are more than 1,240,000 to have signed the petition MonHoméoMonChoix for maintaining the reimbursement of homeopathic medicines.
Given the decrease of sales due to the attacks against homeopathy and the measures contemplated by the French government, the operating income of the first half year of 2019 and of the year 2019 will be in sharp decline compared to 2018.
We are determined to take all necessary actions to restore the truths about Homeopathy.
Laboratoires BOIRON
Our next update: September 4, 2019: at market close, publication of 2019 half-year 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 and the glossary areonline at:www.boironfinance.com