BOIRON : Activity in 2013

ACTIVITY IN 2013

(Unaudited data)

January 24, 2014

CUMULATIVE ACTIVITY AS OF THE END OF DECEMBER 2013

thousands of euros

2012 2013 Variation at current exchange rates

Variation at constant exchange rates

France 325,900 346,965 + 6.5% + 6.5%

International : 240,394 270,766 + 12.6% + 15.2% Incl. Europe excluding France 184,489 204,283 + 10.7% + 12.8% Incl. North America 45,345 53,364 + 17.7% + 22.2%

Incl. Other countries 10,560 13,119 + 24.2% + 27.9%

Group Total 566,294 617,731 + 9.1% + 10.2%

thousands of euros

Non-proprietary Homeopathic

2012 2013 Variation at current

exchange rates

Variation at constant

exchange rates

Medicines 292,025 305,739 + 4.7% + 4.9%

OTC Specialties 273,776 311,581 + 13.8% + 15.8%

Other 493 411 - 16.6% - 21.5%Group Total 566,294 617,731 + 9.1% + 10.2%

QUARTERLY ACTIVITY IN 2013 (variation at current rate)

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
thousands of euros	2012 2013 Var. 13/12	2012 2013 Var. 13/12	2012 2013 Var. 13/12	2012 2013 Var. 13/12
France International : Incl. Europe excluding France Incl. North America Incl. Other countries	74,188 84,270 + 13.6% 54,904 73,751 + 34.3% 41,807 54,334 + 30.0% 10,285 15,562 + 51.3% 2,812 3,855 + 37.1%	71,210 75,327 + 5.8% 41,216 42,436 + 3.0% 28,889 29,047 + 0.5% 9,861 10,017 + 1.6% 2,466 3,372 + 36.7%	88,028 92,596 + 5.2% 69,839 76,890 + 10.1% 55,345 61,256 + 10.7% 11,136 12,153 + 9.1% 3,358 3,481 + 3.7%	92,474 94,772 + 2.5% 74,435 77,689 + 4.4% 58,448 59,646 + 2.0% 14,063 15,632 + 11.2% 1,924 2,411 + 25.3%
Group Total	129,092 158,021 + 22.4%	112,426 117,763 + 4.7%	157,867 169,486 + 7.4%	166,909 172,461 + 3.3%

	1st Quarter	2nd Quarter	3rd Quarter	4th Quarter
thousands of euros	2012 2013 Var. 13/12	2012 2013 Var. 13/12	2012 2013 Var. 13/12	2012 2013 Var. 13/12
Non-proprietary Homeopathic Medicines OTC Specialties Other	73,427 79,062 + 7.7% 55,576 78,866 + 41.9% 89 93 + 4.5%	70,206 73,035 + 4.0% 42,007 44,600 + 6.2% 213 128 - 39.9%	69,959 73,597 + 5.2% 87,811 95,813 + 9.1% 97 76 - 21.6%	78,433 80,045 + 2.1% 88,382 92,302 + 4.4% 94 114 + 21.3%
Group Total	129,092 158,021 + 22.4%	112,426 117,763 + 4.7%	157,867 169,486 + 7.4%	166,909 172,461 + 3.3%

HIGHLIGHTS OF THE FOURTH QUARTER

Sales revenue in the fourth quarter of 2013 grew by 3.3% (5% at current rate) particularly in favour of winter specialties in France, the United States and Spain.
Given the business increase and the control of the costs, the 2013 operating income will grow very significantly in comparison to 2012.
On December 31, 2013, the group's net cash position is close to 160 million euros.
In the United States, the settlement agreement aimed to put an end to the class action proceeding in California about the Children's Coldcalm® medicine obtained final approval from the Los Angeles Court on November 6, 2013. Since no appeal has been filed, this settlement has come into force.
A provision of one million US dollars was recorded for this litigation in 2011 covering all the costs relating to this settlement.

MEETING OF THE CENTRAL WORKS COUNCIL

On January 24, 2014, the Central Works Council of Boiron SA met within the frame of an information-consultation procedure. The General Management announced its intention to:
- Merge the two distribution facilities located in the Lyon area on the site of Francheville. This merger should not lead to job losses.
- Reorganize the IT department of Boiron SA. This project, which might have social consequences, could involve
around fifty jobs until 2018.

Our next update: March 19, 2014, after the close of the stock market, publication of 2013 results. Financial information manager: Philippe MONTANT

Contact for financial information: Véronique BOUSCAYROL

Investor relations: +33 (0) 4.78.45.63.43 - e-mail: [e-mail]

ISIN Code: FR0000061129 (BOI) - Bloomberg: BOI FP - Reuters: BOIR.PA The group's financial information is online at : www.boiron.com