(Unaudited data)
QUARTERLY ACTIVITY IN 2021 (VARIATION AT CURRENT EXCHANGE RATES)
| in thousands of euros | 1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||
| 2021 | 2020 | Var. | 2021 | 2020 | Var. | 2021 | 2020 | Var. | 2021 | 2020 | Var. | |
| France | 51,518 | 72,820 | -29.3% | 53,412 | 53,503 | -0.2% | 58,021 | 66,390 | -12.6% | 75,556 | 85,349 | -11.5% |
| Europe (excluding France) | 20,039 | 37,581 | -46.7% | 22,194 | 16,904 | +31.3% | 32,226 | 25,625 | +25.8% | 40,941 | 35,262 | +16.1% |
| North America | 17,657 | 40,272 | -56.2% | 17,723 | 21,094 | -16.0% | 23,314 | 21,534 | +8.3% | 25,156 | 17,854 | +40.9% |
| Other countries | 1,958 | 5,960 | -67.2% | 5,430 | 5,500 | -1.3% | 4,193 | 3,018 | +38.9% | 5,863 | 4,917 | +19.2% |
| Group total | 91,172 | 156,633 | -41.8% | 98,759 | 97,000 | +1.8% | 117,754 | 116,568 | +1.0% | 147,516 | 143,381 | +2.9% |
| in thousands of euros | 1st,quarter | 2nd,quarter | 3rd,quarter | 4th,quarter | ||||||||
| 2021 | 2020 | Var. | 2021 | 2020 | Var. | 2021 | 2020 | Var. | 2021 | 2020 | Var. | |
| Non-proprietary Homeopathic Medicines | 46,352 | 61,722 | -24.9% | 47,642 | 48,334 | -1.4% | 45,840 | 50,573 | -9.4% | 55,133 | 69,244 | -20.4% |
| OTC specialties* | 44,571 | 94,619 | -52.9% | 50,617 | 48,298 | +4.8% | 71,362 | 65,746 | +8.5% | 91,550 | 73,968 | +23.8% |
| Other | 249 | 292 | -14.8% | 500 | 368 | +36.0% | 552 | 248 | +122.5% | 834 | 168 | +394.8% |
| Group total | 91,172 | 156,633 | -41.8% | 98,759 | 97,000 | +1.8% | 117,754 | 116,568 | +1.0% | 147,516 | 143,381 | +2.9% |
*Specialties: the specialties line includes test sales.
Following the sharp decline recorded in the first quarter, sales in the fourth quarter confirmed the trend observed in the second and third quarters, with an increase of 2.9%.
Sales of non-proprietary medicines continued to decline following the delisting from French health insurance on January 1, 2021. Specialties continued to grow thanks to sales of COVID tests (particularly in France and Belgium) and new products, as well as an increase in sales in the United States and Brazil.
The fourth quarter was also marked by:
- the launch of Storinyl® in France, a homeopathic syrup traditionally used to treat symptoms of colds and dry and wet coughs,
- the launch of Osmobiotic Immuno® in France, Italy and Belgium, a dietary supplement based on microbiotic strains and vitamin D to strengthen the immune system,
- the start of distribution of Canéphron® in France, a traditional herbal medicine for the treatment of uncomplicated urinary problems, developed in partnership with German lab BIONORICA.
CUMULATIVE ACTIVITY AS OF THE END OF DECEMBER 2021
| in thousands of euros | 2021 | 2020 | Variation at current exchange rates | Variation at constant exchange rates |
| France | 238,506 | 278,062 | -14.2% | -14.2% |
| Europe (excluding France) | 115,401 | 115,371 | +0.0% | +1.0% |
| North America | 83,850 | 100,753 | -16.8% | -14.4% |
| Other countries | 17,444 | 19,395 | -10.1% | -7.5% |
| Group total | 455,201 | 513,582 | -11.4% | -10.6% |
| in thousands of euros | 2021 | 2020 | Variation at current exchange rates | Variation at constant exchange rates |
| Non-proprietary Homeopathic Medicines | 194,967 | 229,873 | -15.2% | -14.9% |
| OTC specialties | 258,100 | 282,632 | -8.7% | -7.5% |
| Other | 2,135 | 1,077 | +98.3% | +98.8% |
| Group total | 455,201 | 513,582 | -11.4% | -10.6% |
*Specialties: the specialties line includes test sales.
2021 full-year sales was down 11.4%, following the delisting of homeopathy from French health insurance on January 1, 2021 and the absence of winter pathologies in the first quarter due to the global health crisis.
This decline was limited thanks to sales of new products amounting to approximately €50 million, a significant portion of which was generated by sales of COVID tests, mainly in France and Belgium.
Given the increase in sales in the fourth quarter, 2021 operating income is expected to exceed that of 2020 (€38.2 million as reported). As a reminder, 2020 net operating income was strongly impacted by non-recurring negative items linked to the reorganization in France.
News
As part of its external growth strategy and business development, Laboratoires BOIRON today announces the signing of an agreement for the acquisition of a 70% majority stake in ABBI, a start-up specialized in personalized and customized cosmetics. This acquisition will come into effect no later than February 28, 2022 subject to conditions precedent. The purchase price for the acquisition is €1.75 million, to which an earn-out may be added depending on ABBI's performance. On June 30, 2025, Laboratoires BOIRON will purchase the remaining 30% for an amount also depending on ABBI's performance. These amounts will be financed by Group equity.
We continue to put all our energy and determination into the promotion of Homeopathy in France and around the world.
Laboratoires BOIRON
Our next update: March 9, 2022, after the close of the stock market, publication of 2021 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: boironfinances@boiron.fr
ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA
The group's financial information is online at: www.boironfinance.com
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