bioMérieux - First-Half 2014 Results

The Board of Directors of bioMérieux, a world leader in the field of in vitro diagnostics, met on September 2 under the chairmanship of Jean-Luc Belingard to approve the consolidated financial statements for the six months ended June 30, 2014. The Statutory Auditors had performed a limited review of the financial statements.

Sales:

€781 million, an increase over 2013 of +3.5%
Contributive Operating income before non-recurring items: €94 million

Commercial Offer Updates:

• Commercial launch of FilmArrat® gastrointestinal (GI) panel in Europe and the United States
• Expansion of VIDAS®3 to Latin America and the Asia-Pacific region

Product Line Updates:

• LyfoCults® Quality Control reagents to be gradually phased out in 2015
• Majority of biochemical reagents to be terminated in first half of 2015
• BacT/ALERT® bottles for mycobacteria detection in the bloodstream to be terminated Q1 of 2015

Deployment of new operating organization:

On April 15, 2014, the Company announced the deployment of a new organization led by Alexandre Mérieux.

Three regional organizations with expanded responsibilities have been created: a Europe-Middle East- Africa region, an Americas region and an Asia-Pacific region. In parallel, two business units for bioMérieux’s customer segments, a Clinical Unit and an Industry Unit, have been introduced.

The new organization, which is now up and running, should enable the Company to intensify the deployment of its strategic plan and to pursue its international expansion while always better serving customers.

From the CEO:

“bioMérieux reported solid growth in net sales in the first half of 2014,” said Chief Executive Officer Alexandre Mérieux, “totaling 7.9% at constant exchange rates. With the notable exception of the Asia-Pacific region, our business enjoyed satisfactory growth in all geographies. However, as we anticipated, the Group’s results were affected by the major decline in most of our functional currencies against the euro and by significant production expenditure at our Durham plant. In this difficult environment, we implemented an operating cost control plan. Thanks to our sales momentum and greater financial discipline, we are maintaining our objectives for the full year.”

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