2011 Sales

(in thousands of euros)20112010% change
First quarter44 05341 4346,3%
including Pharmaceutical Synthesis27 14726 6032,0%
including Fine Specialty Chemicals16 90614 83114,0%
Second quarter41 78942 698-2,1%
including Pharmaceutical Synthesis26 45728 100-5,8%
including Fine Specialty Chemicals15 33214 5985,0%
Third quarter33 48133 658-0,5%
including Pharmaceutical Synthesis19 53018 3946,2%
including Fine Specialty Chemicals13 95115 264-8,6%
Fourth quarter45 22140 72111,1%
including Pharmaceutical Synthesis28 96226 28210,2%
including Fine Specialty Chemicals16 25914 43912,6%
Total as of 31 December 2011164 544158 5113,8%
including Pharmaceutical Synthesis102 09699 3792,7%
including Fine Specialty Chemicals62 44859 1325,6%

With sales growing by more than 10% in the fourth quarter of 2011 compared with the same period in 2010, on both Pharmaceutical Synthesis and Fine Specialty Chemicals, PCAS Group's consolidated sales for 2011 are up  3.8% compared to 2010.

Pharmaceutical Synthesis
Over the first five months of the year, business was affected by the planned reduction in the contribution from the new contract between PCAS and Sanofi, effective since May, 31th 2010.
Excluding this contract, the Exclusive and Non-Exclusive Pharma businesses increased by 13.1% over 2011.
Fine Specialty Chemicals
The Fine Specialty Chemicals business has continued its growth during the fourth quarter being 12.6% higher than the same period in 2010, giving a full-year growth of 5.6% for 2011 compared with 2010.

The increase in sales during the fourth quarter should allow to confirm an increase of the current operating income for 2011.

On December 14th Board Meeting, PCAS Directors decided to put an end to Mr. Philippe Decazes' contract due to differences felt concerning the management of operations, following a few months spent at the head of the company's executive management team.

Mr. Vincent Touraille, Deputy CEO, will continue to act as Chief Executive Officer.

In order to be able to effectively move forward with the Group's development strategy, built around increasing the percentage of proprietary products and developing differentiating technologies, the Board of Directors has asked the Group's executive management team to focus their actions on continuing to improve profitability over 2012.

Next date :  2011 earnings, February 22nd, 2012

About PCAS
PCAS is a fine and specialty chemicals group that shares an ambition for excellence with its customers, which primarily include market-leading international groups. PCAS designs and delivers the best industrial solutions for its customers' specific expectations. These various expectations all share a common demand for safety, quality, competitiveness, innovation and sustainability.

Longjumeau, January 12th2012

PCAS_2011sales:
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