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2007 1st half-year registered a marked improvement in operatingprofitability
Operating profit (up 26%) fully benefited from the sharp growth insublingual route sales (up 21%), a segment in which Stallergenes consolidatedits leadership and strategic positioning. Net profit increased by 32% to EUR10.1 million. Net borrowings were down 30%.
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International roll-out of operations
The 1st half-year represents a major milestone in the Group'sinternational development: incorporation of Stallergènes BV in Holland,active preparation of the ORALAIR(R) Grasses tablet registration in Canada,operational rollout in the East of the European Union (Austria, Slovenia andRomania).
Outlook
The Company remains confident in the registration of ORALAIR Grasses inGermany at the end of 2007 and in the initialisation of the mutualrecognition procedure in strategic European countries.
2007 2nd half-year growth should remain strong but at a slightly lowerpace than in the 1st half-year. Additional resources dedicated to the launchof ORALAIR(R) Grasses in Germany and to the financing of the new plant -operational by end 2007 - should drive profitability and net borrowings tolevels close to those of 2006 in absolute values.
About Stallergènes
Stallergenes is a European biopharmaceutical company dedicated todesensitization treatments for the prevention and cure of allergy-relatedrespiratory diseases, e.g. rhino-conjunctivitis and allergic asthma.
A pioneer and leader in sublingual desensitization treatments,Stallergenes devotes 15% of its sales to Research and Development and istoday fully involved in the development of a new therapeutic family, thesublingual desensitization tablets.
With headquarters in France, Stallergenes markets its products inapproximately 40 countries. Stallergènes realised 2006 sales of EUR 126.5million, of which half outside France.
Stallergènes' shares are listed on Eurolist Compartment B of the EuronextParis Stock Exchange.
ISIN code: FR0000065674, Reuters code: GEN.PA, Bloomberg code: GEN.FP
For additional information on Stallergènes, please visit our website:http://www.stallergenes.com(EUR millions) 2007 % of 2006 % of % change HY1 sales HY1 sales 2007/2006 Sales 74.8 100.0 64.2 100.0 17 Cost of sales (16.9) (22.5) (14.6) (22.7) 16 Gross profit 57.9 77.5 49.6 77.3 17 General, (31.3) (41.9) (28.0) (43.6) 12 administrative and selling expenses Gross operating profit 26.6 35.6 21.6 33.7 23 before R&D R&D (11.2) (15.0) (9.4) (14.6) 19 Operating profit 15.4 20.6 12.2 19.1 26 Net profit (Group 10.1 13.6 7.7 12.0 32 share) Net earnings per share 0.76 0.59 30 (diluted, in EUR) Net borrowings 9.3 (16%) 13.3 (29%) (30) (gearing)
SOURCE Stallergenes
