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Sanofi-aventis Announces 2007 Earnings Ahead of Guidance Sharp Rise in Proposed Dividend
Date:2/12/2008

omprise the buyout of commercial rights over products (including Panaldine(R) in Japan) and payments made under collaboration and marketing agreements with partners including Regeneron, Oxford BioMedica (TroVax(R)), UCB (Xyzal(R)), Crucell N.V. and Acambis.

Acquisitions of investments (euro 435 million) mainly comprised euro 186 million on the buyout of preferred shares issued by Carderm Capital LP (a subsidiary of sanofi-aventis) and euro 218 million on the purchase of 12 million shares in Regeneron, taking the interest held by sanofi-aventis to approximately 19% of the capital.

After-tax proceeds from disposals (euro 329 million) included receipt of the contingent CSL purchase consideration of $250 million.

After a dividend payout of euro 2,373 million and the acquisition of 29.4 million treasury shares for euro 1,806 million, net cash generated during 2007 was euro 1,561 million, enabling sanofi-aventis to reduce net debt from euro 5.8 billion at December 31, 2006 to euro 4.2 billion at December 31, 2007. Gearing stood at 9.5% at December 31, 2007, compared with 12.6% at December 31, 2006.

2008 Guidance(5)

Barring major adverse events, sanofi-aventis expects 2008 full-year adjusted EPS excluding selected items(1) to grow around 7%, calculated at constant euro/dollar parity (1,371). Sensitivity to the euro/dollar exchange rate is estimated at 0.5% of growth for a 1-cent movement in the exchange rate.

Dividend

At its February 11, 2008 meeting, sanofi-aventis Board of Directors established the agenda and the draft resolutions to be submitted to the Shareholders' Ordinary Annual General Meeting of May 14, 2008. It notably decided to propose to the General Meeting to approve a dividend of euro 2.07 per share. This would represent an increase of 18.3% on the previous year (euro 1.75). The dividend payment date will be May 21, 2008.

(1) Refer to Appendix 1 for a definition of financial indicators, and to Appendix 6
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SOURCE sanofi-aventis
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