PARIS, August 28 /PRNewswire-FirstCall/ -- The Board of Directors, meeting on 28 August 2007, under the chairmanship of Albert Saporta approved the consolidated financial statements at 30 June 2007:
(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)
2007 1st half-year registered a marked improvement in operating profitability
Operating profit (up 26%) fully benefited from the sharp growth in sublingual route sales (up 21%), a segment in which Stallergenes consolidated its leadership and strategic positioning. Net profit increased by 32% to EUR 10.1 million. Net borrowings were down 30%.
International roll-out of operations
The 1st half-year represents a major milestone in the Group’s international 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 and Romania).
Outlook
The Company remains confident in the registration of ORALAIR Grasses in Germany at the end of 2007 and in the initialisation of the mutual recognition procedure in strategic European countries.
2007 2nd half-year growth should remain strong but at a slightly lower pace than in the 1st half-year. Additional resources dedicated to the launch of ORALAIR(R) Grasses in Germany and to the financing of the new plant - operational by end 2007 - should drive profitability and net borrowings to levels close to those of 2006 in absolute values.
About Stallergènes
Stallergenes is a European biopharmaceutical company dedicated to desensitization treatments for the prevention and cure of allergy-related respiratory 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 is today fully involved in the development of a new therapeutic family, the sublingual desensitization tablets.
With headquarters in France, Stallergenes markets its products in approximately 40 countries. Stallergènes realised 2006 sales of EUR 126.5 million, of which half outside France.
Stallergènes’ shares are listed on Eurolist Compartment B of the Euronext Paris 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
Stallergenes
CONTACT: Your contacts Pavie Finance, Albert Saporta - Chairman, ChristianThiry - Chief Financial Officer, Tel: +33-(0)1-55-59-20-95,investorrelations@stallergenes.fr; Lucile de Fraguier, Investor & AnalystRelations, Tel: +33-(0)1-42-15-04-39, contact@pavie-finance.com</
