BOIRON — Earnings Release 2022

Oct 21, 2022

October 20, 2022

SALES IN THE THIRD QUARTER OF 2022

(Unaudited data)

SALES IN THE THIRD QUARTER (VARIATION AT CURRENT EXCHANGE RATES)

	1 st quarter			$2nd$ quarter			3 rd quarter
In thousands of euros	2022	2021	Var.	2022	2021	Var.	2022	2021	Var.
France	77,055	51,518	+49.6%	54,283	53.412	$+1.6\%$	58,275	58,021	$+0.4%$
Europe (excluding France)	34,476	20.039	$+72.0%$	26,228	22.194	$+18.2%$	35,744	32,226	$+10.9%$
North America	28,944	17,657	+63.9%	23,282	17,723	$+31.4\%$	29,107	23,314	$+24.8%$
Other countries	5,305	1,958	+171.0%	7,189	5,430	$+32.4%$	5.295	4,193	$+26.3%$
Group total	145,780	91.172	+59.9%	110,982	98.759	+12.4%	128,422	117.754	$+9.1%$
	1 st quarter			$2nd$ quarter			3 rd quarter

In thousands of euros	r" quarter			z ija quarter			5 - quarter
	2022	2021	Var.	2022	2021	Var.	2022	2021	Var.
Non-proprietary homeopathic medicines	45.516	46.352	$-1.8%$	43.360	47.642	$-9.0\%$	41.081	45.840	$-10.4%$
Homeopathic specialties	67.100	39.430	+70.2%	54.816	40.683	+34.7%	74.349	58.718	$+26.6%$
Other health products*	33.164	5.390	$+515.3%$	12,806	10.434	$+22.7%$	12.992	13.196	$-1.5%$
Group total	145,780	91.172	+59.9%	110,982	98,759	+12.4%	128,422	117.754	$+9.1%$

* "Other health products" include non-homeopathic products (medical devices, dietary supplements, cosmetics, phytotherapy), which were presented under "specialties" until 2021.

The increase in sales recorded in the first and second quarters continued in the third quarter.

In France, the decline in sales of non-proprietary homeopathic medicines was offset by the increase in sales of homeopathic specialities.

Homeopathic specialities continued to grow in all regions, particularly thanks to the winter range.

Two new products were also launched this quarter:

• Boiron immuno+, a dietary supplement designed to support the body's natural defences throughout $\bullet$ winter thanks to a synergy of zinc, elderberry and chokeberry.
• Sinuphyl®, herbal medicine comprising five plants, developed to fight acute uncomplicated rhinosinusitis $\bullet$ in adults, in partnership with German laboratory BIONORICA.

CUMULATIVE SALES AS OF THE END OF SEPTEMBER 2022

			Variation	Variation
In thousands of euros	2022	2021	at current	at constant
			exchange rates	exchange rates
France	189,612	162,951	$+16.4%$	$+16.4%$
Europe (excluding France)	96,448	74,460	$+29.5%$	$+26.9%$
North America	81,334	58,694	$+38.6%$	$+23.7%$
Other countries	17,789	11,581	+53.6%	$+42.1%$
Group total	385,183	307,685	$+25.2%$	$+21.3%$
	2022		Variation	Variation
In thousands of euros		2021	at current	at constant
			exchange rates	exchange rates
Non-proprietary homeopathic medicines	129,957	139,834	$-7.1%$	$-8.8%$
Homeopathic specialties	196,265	138,831	$+41.4%$	$+34.8%$
Other health products*	58,961	29,020	$+103.2%$	+101.7%
Group total	385,183	307,685	$+25.2%$	$+21.3%$

* "Other health products" include non-homeopathic products (medical devices, dietary supplements, cosmetics, phytotherapy), which were presented under "specialties" until 2021.

Total sales were up 25.2%. Sales were up 16.4% in France and 35.1% abroad, with all countries and regions posting an increase across all products. It breaks down more or less evenly between existing homeopathic specialties and new products.

Sales of new products launched since 2020 amounted to 61.2 million euros, up from 26.8 million last year.

Outlook

Amid high inflation and pressure on certain energy and raw material supplies, we are doing everything we can to ensure our products remain available and to limit increases in prices.

We are also keeping a close eye on how the global health crisis evolves, and continue to take appropriate measures where necessary.

We expect to see a further decline in sales of non-proprietary homeopathic medicines in France in the fourth quarter. Sales of homeopathic specialties and other healthcare products are expected to continue to grow as winter illnesses return.

For the full year, we expect to see an increase in revenues in all of the Group's regions versus 2021, as well as a significant increase in profitability.

We continue to put all our energy and determination into ensuring that every patient in the world can take advantage of homeopathy and ours others healthcare solutions, thereby supporting a more humane, efficient and sustainable healthcare system.

Laboratoires BOIRON

Investor relations: +33 (0) 4.37.41.84.01 - e-mail: boironfinances@boiron.fr

ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA

Our next update: January 19, 2023: at market close, publication of the sales for the year 2022. Person responsible for financial information: Valérie Lorentz-Poinsot Contact for financial information: Fabrice Rey

The group's financial information and the glossary are online at: www.boironfinance.com