The Board of Directors of BOIRON, at its meeting on March 21, 2023 chaired by Thierry Boiron, made up the statutory and consolidated financial statements of the financial year ended on December 31, 2022. It was decided to call a Shareholders' Meeting on May 25, 2023 at the company's headquarters in Messimy.
Audit of the statutory and consolidated financial statements have been performed and the audit reports concerning their certification are currently in the process of being issued.
BOIRON GROUP RESULTS
| In thousands of euros | 2022 | 2021 | Variation |
| Sales(1) | 534,239 | 455,201 | +17.4%(2) |
| Operating income | 63,448 | 46,842 | +35.5% |
| Net income - Group share | 44,673 | 28,556 | +56.4% |
| Cash flow(3) | 65,170 | 55,639 | +17.1 % |
| Net investments | 15,277 | 11,921 | +28.2% |
| Net cash position | 249,660 | 234,082 | +6.7% |
(1) The main information on the variation of the yearly sales were the subject of a financial statement on January 19, 2023 (https://www.boironfinance.fr/en/releases/sales).
(2) +13.6% at constant exchange rate.
(3) Before cash revenue, financing expenses and corporate income tax.
For the second year in a row, the BOIRON Group has returned to profitable growth. This is the result of the Group's ambitious development strategy, underpinned by our determination to promote homeopathy throughout the world, in addition to our other equally effective and safe healthcare solutions.
As such, operating income for the year increased €16,606 thousand. The €79,038 thousand increase in revenues resulted in an improvement in the gross margin of €52,104 thousand, in France and abroad. Meanwhile, operating expenses increased by €35,498 thousand, mainly due to the resumption of promotional campaigns in most countries.
2022 operating income includes other operating income and expenses of €8,195 thousand (compared with €9,415 thousand in 2021). This comprises €6,114 thousand in capital gains from the sale of the Montrichard production site and three preparation and distribution facilities, closed as part of the reorganization launched in France in 2020.
In line with forecasts, disbursements related to the reorganization totalled €21,334 thousand in 2022. At December 31, 2022, the remaining provision was €20,426 thousand.
The Board of Directors will recommend that the General Meeting of Shareholders distribute a dividend of 1.10 euros per share. The dividend will be paid out on June 3, 2023.
In 2023, the Group's sales growth will potentially be impacted by the decline in COVID test sales, pressures on the supply of raw materials and energy, and the geopolitical situation in certain regions of the world.
We continue to put all our energy and determination into ensuring that every patient in the world can take advantage of homeopathy and our other healthcare solutions, thereby supporting a more humane, efficient and sustainable healthcare system.
Laboratoires BOIRON
Our next update:
April 27, 2023, at market close, publication of quarterly sales and financial information as of March 31, 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 is online at: www.boironfinance.com
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