BOIRON

Earnings Release • Oct 23, 2023

October 20, 2023

SALES IN THE THIRD QUARTER OF 2023

(Unaudited data)

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

	1st quarter			2nd quarter			3rd quarter
In thousands of euros	2023	2022	Var.	2023	2022	Var.	2023	2022	Var.
France	54,580	77,055	-29.2%	52,277	54,283	-3.7%	56,005	58,275	-3.9%
Europe (excluding France)	39,220	34,476	+13.8%	23.656	26,228	-9.8%	30,561	35,744	-14.5%
North America	33,279	28.944	+15.0%	24,148	23,282	+3.7%	28,861	29,107	-0.8%
Other countries	5,220	5,305	-1.6%	7,504	7,189	+4.4%	5,683	5,295	+7.3%
Group total	132,299	145,780	-9.2%	107,585	110,982	-3.1%		121,110 128,422	-5.1%
	15 quarter			2nd quarter			ard quarter

In thousands of euros	15t quarter			2nº quarter			3rd quarter
	2023	2022	Var.	2023		2022 Var.	2023	2022	Var.
Non-proprietary homeopathic medicines		45,234			42,231			41,081	-4.3%
Homeopathic specialties	79,858	67.100	+19.0% = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =	57,111	54.816		+4.2% 71.709	74,349	-3.6%
Other health products	7,206	33,164	-78.3%	8.243			12,806 - 35.6% - 10,096	12.992 /	-22.3%
Group total		132,299 145,780						-9.2% 107,585 110,982 - 3.1% - 121,110 128,422	-5.7%

Sales in the third quarter of 2023 were down 5.7%. Adjusted for the decline in COVID test sales this comes to 2.8%, exclusively due to the drop-in exchange rates.

The 4.3% decline in non-proprietary homeopathic medicines is still mainly attributable to France.

Sales from homeopathic specialties fell 3.6%, due to lower sales of winter specialties following a warm September.

Sales of other healthcare products continued to decline, due to a decrease in COVID test sales in Europe, particularly in France.

This decline was partially offset by the launch of the CBD by Boiron® range in France, formulated using 98% natural-origin ingredients and comprising three products:

• · a cream gel that helps restore joint movement and comfort,
• a gel (tube and roll-on) that helps to reduce tension and relax muscles.

CUMULATIVE SALES AS OF THE END OF SEPTEMBER 2023

			Variation	Variation
In thousands of euros	2023	2022	at current	at constant
			exchange rates	exchange rates
France	162,862	189,612	-14.1%	-14.1%
Europe (excluding France)	93,437	96,448	-3.1%	-0.8%
North America	86,287	81,334	+6.1%	+8.6%
Other countries	18,407	17,789	+3.5%	+3.9%
Group total	360,994	385,183	-6.3%	-5.2%
			Variation	Variation
In thousands of euros	2023	2022
			at current	at constant
			exchange rates	exchange rates
Non-proprietary homeopathic medicines	126,771	129,957	-2.5%	-2.1%
Homeopathic specialties	208,679	196,265	+6.3%	+8.2%
Other health products	25,545	58,961	-56.7%	-56.5%

Total sales fell 6.3%, impacted by a challenging basis for comparison following significant COVID test sales in France in 2022. Excluding these tests, sales were up 3%.

This growth was achieved in all regions and was driven by sales of homeopathic specialties.

Outlook

The decline in COVID test sales is expected to result in lower revenues in 2022. Excluding test sales, revenues are expected to grow, depending on winter illnesses at the end of the year.

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

Laboratoires BOIRON

Our next update:January 25, 2024: at market close, publication of the sales for the year 2023. Person responsible for financial information: Valérie Lorentz-Poinsot

Contact for financial information: Fabrice Rey

Investor 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