bioMérieux 2013 Financial Results

Highlights

Objectives met:

• Solid financial performance
• Sales up 4.6% at constant exchange rates and scope of consolidation
• Operating income before non-recurring items: €262 million, or 16.5% of sales
• Free cash flow

Major strategic advances:

• Acquisition of BioFire, a U.S.-based company specialized in molecular biology, and its unique FilmArray® system enabling a syndromic approach to infectious diseases
• Promising launch of VIDAS® 3 and FDA clearance received for VITEK® MS
• Effective synergies with AES and ARGENE

2014 Objectives

In an uneven and uncertain currency and economic environment

• Organic sales growth of 3% to 5% for the year, at constant exchange rates and before the consolidation of an estimated €60 million in additional sales from BioFire (or an acceleration of more than 350 basis points)
• Contributive operating income before non-recurring items* of between €220 million and €245 million, after recognition of BioFire’s recurring operations, the investments required at the Durham site and the currency effect (at least an estimated €25 million on the basis of current exchange rates)

“In 2013, bioMérieux’s sales grew by 4.6% at constant exchange rates and scope of consolidation,” said Jean-Luc Belingard, Chairman and Chief Executive Officer, "and our operating income before non-recurring items came to €262 million. We therefore met the targets that we set a year ago. These results clearly attest to our Company’s competitiveness and strength. Despite a volatile currency environment, we will pursue our roadmap in 2014, which will therefore be a year of consolidation and investment focused on deploying our molecular biology solutions after the BioFire acquisition, increasing our presence in the rapidly growing industrial application market, ramping up the commercial launch of VIDAS® 3 and marketing our very innovative clinical microbiology systems. Adhering to our policy of strict financial discipline, we will also pursue our operational initiatives by investing to support innovation as well as to enhance our production tools, particularly at our Durham plant. In this context, backed by our reinforced strategic positioning, the operational initiatives already underway and the first very encouraging results of the BioFire integration, we will be capable of taking advantage of our markets' profitable growth potential.”

* Operating income before non-recurring items, before non-recurring BioFire acquisition and integration costs and before accounting entries for BioFire purchase price allocation

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