March 19, 2014

2013 RESULTS

The Board of Directors of BOIRON, at its meeting of March 19, 2014 chaired by Thierry Boiron, made up the statutory and consolidated financial statements of the financial year ended on December 31,
2013. It was decided to call a Combined Shareholders Meeting on May 22, 2014 at the company's headquarters in Messimy.
Audits 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 2012

Published

2012

Restated (1)

2013

Variation

2013/2012

Restated


Sales 566,294 566,294 617,731 +9.1% Operating income 81,109 85,584 134,306 +56.9% Net Income - Group share 49,626 50,296 82,396 +63.8%


Cash Flow 114,736 114,736 164,310 +43.2% Tangible and intangible net gross investments 19,135 19,135 24,236 +26.7% Net cash position 94,704 94,704 159,775 +68.7%

(1) Following application of the revised IAS 19 norm relating to post-employment social commitments.

Profitability improved significantly through:
- the increase of sales, in particular due to the high pathology in the first quarter,
- the control of operating costs,
- costs savings generated by the recent reorganizations in Italy, Belgium and
Switzerland.
Operating income was however impacted by the reorganization costs in Spain and Belgium up to
€7,066 thousand.
The Board of Directors will propose to the Combined Shareholders Meeting the distribution of a dividend of €1.20 per share. The payment of the dividend will be June 6, 2014.
Following the exceptional year 2013 which was in particular marked by a high pathology, the group is cautious regarding its 2014 outlook.

Our next update:

April 24, 2014, at market close, publication of quarterly sales and financial information as of March 31, 2014. Person responsible for financial information: Philippe Montant

Contact for financial information: Véronique Bouscayrol

Investor relations: +33 (0)4.78.45.63.43 - E-mail: finances@boiron.fr

ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA

The group's financial information is online at : www.boiron.com

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