BOIRON : Activity in the third quarter of 2021
(Unaudited data)
Development of business in the third quarter (variation at current exchange rates)
| In thousands of euros | 1st quarter | 2nd quarter | 3rd quarter | ||||||
| 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% |
| Europe (excluding France) | 20,039 | 37,581 | -46.7% | 22,194 | 16,904 | +31.3% | 32,226 | 25,625 | +25.8% |
| North America | 17,657 | 40,272 | -56.2% | 17,723 | 21,094 | -16.0% | 23,314 | 21,534 | +8.3% |
| Other countries | 1,958 | 5,960 | -67.2% | 5,430 | 5,500 | -1.3% | 4,193 | 3,018 | +38.9% |
| Group total | 91,172 | 156,633 | -41.8% | 98,759 | 97,000 | +1.8% | 117,754 | 116,568 | +1.0% |
| In thousands of euros | 1st quarter | 2nd quarter | 3rd quarter | ||||||
| 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% |
| OTC Specialties | 44,571 | 94,619 | -52.9% | 50,617 | 48,298 | +4.8% | 71,362 | 65,746 | +8.5% |
| Other | 249 | 292 | -14.8% | 500 | 368 | +36.0% | 552 | 248 | +122.5% |
| Group total | 91,172 | 156,633 | -41.8% | 98,759 | 97,000 | +1.8% | 117,754 | 116,568 | +1.0% |
Following the sharp decline recorded in the first quarter, revenues in the third quarter continued the trend observed in the second quarter with an increase of 1%.
Sales of non-proprietary medicines continued to decline in France, following the delisting of homeopathic medicines on January 1, 2021.
Specialities continued to grow. The reduction in winter specialities was offset by sales of new products and other specialities, in particular in the United States, Russia, Romania and Bulgaria.
Cumulative activity as of the end of september 2021
| In thousands of euros | 2021 | 2020 | Variation at current exchange rates |
Variation at constant exchange rates |
| France | 162,951 | 192,713 | -15.4% | -15.4% |
| Europe (excluding France) | 74,460 | 80,109 | -7.1% | -5.5% |
| North America | 58,694 | 82,899 | -29.2% | -25.3% |
| Other countries | 11,581 | 14,479 | -20.0% | -16.4% |
| Group total | 307,685 | 370,200 | -16.9% | -15.5% |
| In thousands of euros | 2021 | 2020 | Variation at current exchange rates |
Variation at constant exchange rates |
| Non-proprietary Homeopathic Medicines | 139,834 | 160,628 | -12.9% | -12.3% |
| OTC Specialties | 166,550 | 208,663 | -20.2% | -18.3% |
| Other | 1,301 | 908 | +43.3% | +44.0% |
| Group total | 307,685 | 370,200 | -16.9% | -15.5% |
Total sales were down 16.9% over the period ending September 30, impacted by the sharp decline in the first quarter due to the delisting of homeopathic medicines in France, the global pandemic and the absence of winter illnesses.
Thanks to our innovation strategy, sales of new products continued to grow and amounted to around €27 million.
Outlook
We expect to see a further decline in sales of non-proprietary medicines in the fourth quarter versus 2020, following the delisting of homeopathic medicines in France.
Specialty sales will continue to benefit from further growth in new product sales, in particular thanks to the launch of a new range of dermo-cosmetics with organically grown Calendula in September in France, Italy, Spain, Belgium and China, as well as the distribution of Canéphron® in France from October, a traditional herbal medicine developed in partnership with German lab BIONORICA.
We still expect to see a significant decline in revenues over the year.
Full-year operating income will benefit from the comparison effect of the reorganization in France provisioned in 2020, as well as initial savings generated by the reorganization and continued savings on operating expenses.
It will also be boosted by the positive contribution of new product sales.
Although down compared to 2020, we expect to post positive full-year operating income.
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:
January 20, 2022: at market close, publication of the sales revenue for the year 2021.
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 : [email protected]
ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA
The group's financial information and the glossary are online at: www.boironfinance.com
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Regulated information:
Quarterly financial reporting:
- Third quarter financial report
Full and original press release in PDF: https://www.actusnews.com/news/71610-boi-211021-activity-q3-2021-gb.pdf
Source Actusnews
