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PCAS: 2008 Results
Date:2/18/2009

and economic climate makes it particularly difficult to forecast, the Pharmaceutical Synthesis division should improve in 2009, whilst that of the Fine Speciality Chemical division should continue to be in retreat as compared to 2008, the two combined could however experience a slight increase.

In this context, the group plans to speed up and reinforce measures to adapt its production capacity to be more efficient and to return to its profitability objective as quickly as possible, and thus fully benefit from the recovery of the economic situation when it occurs.

It should be noted that the recent government decisions in terms of anticipated reimbursements of various fiscal accounts receivables (research tax credit and carry-back) will bring additional financing of almost 7 million euros, allowing the group to tackle the imposed changes whilst maintaining room for manoeuvre in an uncertain environment.

Moreover, PCAS will continue its policy of developing high added-value niche activities and increasing its international presence in buoyant markets. As such, from the beginning of first half-year 2009, PCAS should finalise two projects regarding North American development in association with local partners.

    Next Meeting:
    Shareholder's meeting on the 29th April 2009

    Contact:
    Philippe Delwasse
    Eric Moissenot
    +33(0)1-69-79-61-32

   http://www.pcas.com


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