Guerbet — Earnings Release 2008

Feb 11, 2009

P R E S S R E L E A S E

2008 net sales

Villepinte, 11 February 2009

Consolidated Group sales (IFRS)

In thousands of euros	2008	2007	Change
First quarter	75,573	72,841	+3.8%
Second quarter	81,376	79,165	+2.8%
Third quarter	79,160	74,539	+6.2%
Fourth quarter	84,674	79,003	+7.2%
Total………………………………………	320,783	305,548	+5.0%

Consolidated sales by region

In thousands of euros	2008	2007	Change
Europe	251,912	238,664	+5.6%
Other markets	68,872	66,884	+3.0%
Total………………………………………	320,783	305,548	+5.0%

Dotarem's commercial success confirmed

Dotarem, Guerbet's flagship magnetic resonance imaging (MRI) product, achieved another year of excellent growth in 2008, expanding 28.9% in volume and 23.6% in value. Following this performance, Dotarem is now the European leader in its market.

In the x-ray imaging segment, the second half was marked by the resumption of growth for Xenetix, advancing 12.3% in volume and 5.5% in value over the same period last year. For the full year, sales expanded 3.1% in volume though contracted 1.5% in value in relation to 2007.

For the year ended, Guerbet achieved further gains in Europe (+5.6%), particularly in Germany. In other regions, Group sales were mixed and in certain markets adversely affected by unfavourable foreign exchange trends.

Overall, sustained expansion in the 2008 fourth quarter (+7.2%) contributed to growth in annual sales of 5%.

Four new production units were commissioned in the period, representing concrete results of the Group's capital expenditure efforts over a number of years.

Within the framework of the Franco-German ISEULT project, the Group launched an ambitious magnetic resonance imaging research programme. To support this initiative, Guerbet will receive funding from the OSEO innovation agency to be made available over a period of eight years through a combination of grants and repayable advances. In December 2008, the Group received accordingly an advance of €3.4 million.

At 31 December 2008, the Group's debt had declined in relation to 30 June. Overall, the Group was successful in 2008 in effectively managing the increase in its debt while continuing to pursue its ambitious capital expenditure plan.

The strong growth in Dotarem' sales combined with the effective management of operating costs represent positive developments for the earnings outlook for fiscal 2008.

A complete presentation of Group results for fiscal 2008 with comments will be published on 11 March 2009.

Contact: Finance Department. Tel.: +33 (0)1 45 91 50 11