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A word from…

PASCAL LEMAIRE, Executive Vice President Finance

The 2020/21 results demonstrate the strength of the Group and confirm its ability to successfully integrate new acquisitions. We are confident that we will achieve our 2025 goals and continue to serve patient needs across the world.

OUR 2020/2021 RESULTS

Growth driven by an increase in sales volume

The Servier Group revenue for the 2020/21 financial year increased by 4.3% compared to 2019/20 at constant exchange rates (+0.8% at current rates) to reach €4.725 billion. Revenue evolution is the result of a volume growth of 5.3%; i.e., €246 million. Oncology contributed €153 million to this growth, €69 million of which was generated by the acquisition of the Agios Pharmaceuticals’ oncology business.

The revenue of brand-name medicines amounts to €3.306 billion for the 2020/21 financial year, i.e., a growth of 4.8% at constant rates (+0.6% at current rates) compared to 2019/20. The revenue of generic medicines is up by 2.9% at constant rates (+1.1% at current rates), compared to the previous year, reaching €1.419 billion.

The 2020/21 EBITDA remains stable compared to the previous financial year at €625 million, representing 13.2% of Group revenue, as well as the operating income which amounts to €278 million, i.e. 5.9% of Group revenue.

Accelerated growth in oncology

The acquisition of Agios Pharmaceuticals’ oncology business demonstrates how the Group’s strategy in oncology is accelerating. Since the beginning of the 2020/21 financial year, Servier has allocated more than half of its R&D budget to the discovery and development of cancer treatments. The Group’s major investment in oncology is now reflected in the seven medicines now available to patients. The Group’s brand-name medicine revenue in oncology amounted to €604 million compared to €448 million in 2019/20, representing a 34.9% increase.

Sustained activity in cardiometabolism and significant growth in venous diseases

Sales of brand-name medicines in cardiometabolism amounted to €2.067 billion (i.e., 44% of Group revenue), down 3.2% at constant rates (-6.9% at current rates) compared to 2019/20 (€2.221 billion) due in particular to a slowdown in sales in China.

Daflon® is an important part of the Group’s growth. In 2020/21, sales increased by 13,6% at constant rates (+7.5% at current rates), up €473 million compared to €440 million in 2019/20, propelling Daflon® to the forefront of the Group’s brand-name medicines in terms of revenue.

Group driven by international sales of brand-name medicines

The share of Group revenue generated outside the European Union remains stable compared to the previous financial year and represents more than half of the consolidated revenue; i.e., 51%. The Group has distributed over a billion boxes of medicines worldwide.

China remains the Group’s leading brand-name subsidiary, despite a 22.8% drop, which was due to government reforms, with a revenue of €353 million compared to €457 million in 2019/20. The U.S. subsidiary is now the Group’s second-largest subsidiary, ahead of Russia (€247 million), with a revenue of €255 million, up 31.4% (€194 million in 2019/20).