BOIRON — Earnings Release 2022

Jul 22, 2022

bolron

July 21, 2022

2022 HALF-YEAR

BOIRON SALES

(Unaudited data)

CUMULATIVE SALES AS OF THE END OF JUNE 2022

			Variation at	Variation at
In thousands of euros	2022	2021	current	constant
			exchange rates	exchange rates
France	131,338	104,930	+25.2%	+25.2%
Europe (excluding France)	60,704	42,234	+43.7%	+42.7%
North America	52,227	35,380	+47.6%	+34.3%
Other countries	12,494	7,388	+69.1%	+56.8%
Group total	256,762	189,931	+35.2%	+32.0%
In thousands of euros
			Variation at	Variation at
	2022	2021	current	constant
			exchange rates	exchange rates
Non-proprietary homeopathic medicines	88,876	93,994	-5.4%	-6.8%
Homeopathic specialties	121,916	80,113	+52.2%	+46.5%
Other health products*	45,970	15,825	+190.5%	+189.0%
Group total	256,762	189,931	+35.2%	+32.0%

SALES BY QUARTER (VARIATION AT CURRENT EXCHANGE RATES)

In thousands of euros	1st quarter			2nd quarter
	2022	2021 - 2021 - 1	Var.	2022	2021	Var.
France			77,055 51,518 +49.6%	54.283 53.412		+1.6%
Europe (excluding France)			34,476 20,039 +72.0% -	26,228 22,194 +18.2%
North America			28,944 17,657 +63.9%	23,282 17,723		+31.4%
Other countries				5,305 - 1,958 +171.0% - 7,189 - 5,430 +32.4%
Group total				145,780 91,172 +59.9% 110,982 98,759 +12.4%

In thousands of euros	1st quarter			2nd quarter
		2022	Var.	2022 2021		Var.
Non-proprietary homeopathic medicines			45,516 46,352 -1.8%		43,360 47,642 -9.0%
Homeopathic specialties				67,100 39,430 +70.2% 54,816 40,683 +34.7%
Other health products*				33,164 5,390 +515.3% 12,806 10,434 +22.7%
Group total				145,780 91,172 +59.9% 110,982 98,759 +12.4%

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

Change in revenue

In the second quarter:

Revenues continue to grow, in particular thanks to homeopathic medicines and other health products. Sales of homeopathic specialties rose 34.7%, thanks to the continued increase in the winter range, essentially in France, the United States, Canada and Italy.

The decline in non-proprietary homeopathic medicines is mainly attributable to France.

In the first half:

Total sales increased 35.2%. This increase breaks down more or less evenly between existing homeopathic specialties and new products.

Regarding new products launched in 2020 (homeopathic medicines and other healthcare products), sales amounted to approximately 47 million euros in the first half, compared to 15 million euros in the first half of 2021.

This strong growth in all regions is the Group's proven resilience, founded on the strength of its brands, innovation strategy, commitment of its teams and flexibility of its industrial equipment.

Outlook

Amid rising inflation and supply chain pressures, we are doing everything we can to ensure our medicines and entire product range remain available.

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

In light of the significant increase in business and the impact of the reorganization carried out in France, the Group expects to achieve a sharp increase in operating income in the first half.

In total over the year, we therefore expect to see an increase in revenue and profitability compared to 2021.

We continue to put all our energy and determination of homeopathy in France and around the world.

Laboratoires BOIRON

Our next update:

September 7, 2022: at market close, publication of 2022 half-year results.

Person responsible for financial information: Valérie Lorentz-Poinsot.

Contact for financial information: Fabrice Rey.

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

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

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