EVOLUTION IN ALL DIVISIONS
Waregem (Belgium), 15 January 2010 – In 2009 the consolidated turnover of Arseus increased 10.3% to €391.3 million. The organic growth in 2009 was 4.1%. In the fourth quarter the consolidated turnover increased 9.9% to €113.9 million. The organic growth was 4.5%.
The evolution of turnover per division is as follows1:
(x €1 million) Q4 2009 Q4 2008 evolution organic growth
Fagron 43.1 39.1 10.2% 6.5%
Arseus Dental 46.9 43.0 9.1% 3.8%
Arseus Medical 15.7 14.2 10.6% -1.1%
Corilus 8.2 7.3 12.3% 9.6%
TOTAL 113.9 103.6 9.9% 4.5%
(x €1 million) 2009 2008 evolution organic growth
Fagron 150.7 136.9 10.1% 5.6%
Arseus Dental 161.2 144.2 11.8% 3.1%
Arseus Medical 50.6 47.3 7.0% 2.0%
Corilus 28.8 26.2 9.9% 6.3%
TOTAL 391.3 354.6 10.3% 4.1%

Ger van Jeveren, CEO of Arseus: “2009 was in several respects an excellent year for Arseus.
Despite the unfavourable economic circumstances and the cost-saving programme launched at the start of 2009, all the divisions contributed to the turnover growth of 10.3%, of which no less than 4.1% was organic growth. The emphasis in the first half of 2009 was on strengthening our management structure, while we used our healthy financial situation in the second half of 2009 to make some strategic acquisitions.
1 Unaudited management figures.

We are confident about the future and confirm our previous outlook that recurring EBITDA will grow faster than turnover in 2009. Based on our current view and Arseus’ existing portfolio, we expect to generate turnover growth of between 5% and 10% in 2010 and a recurring EBITDA that is again expected to grow faster than turnover.”

FAGRON
Fagron grew 10.2% in the fourth quarter, 6.5% of which was organic growth. On an annual basis the growth in turnover was 10.1%, with organic growth of 5.6%. In 2009 Fagron further consolidated its European market leadership. This was achieved partly through the introduction of innovative products and concepts in Europe and the healthy performance of the greenfields in the United Kingdom and France.
Early December Fagron concluded an agreement with the Lipis company to launch the Fagron product range in the Slovenian market. Fagron is the only multinational one-stop-shop for products, services and concepts for pharmaceutical compounding in Europe and it now has operations in 17 European countries.
In December thirteen hypermodern GMP clean rooms for the conditioning of pharmaceutical raw materials were completed at Fagron Services in Uitgeest, the Netherlands. These clean rooms have now been examined and approved by the relevant inspectorates and other government bodies. This addition means the capacity of Fagron Services had increased by 25% to 1.5 million units per annum and that its production facilities are absolutely state of the art.
In the fourth quarter, Fagron acquired a compounding and dispensing pharmacy in the Netherlands with an estimated annual turnover of approximately €5 million and a double-digit EBITDA margin. This acquisition strengthens Fagron’s market leadership in pharmaceutical compounding in the Netherlands.

ARSEUS DENTAL
Arseus Dental’s growth strategy is to focus on delivering high-quality, innovative total concepts to dentists and dental laboratories and to strengthen the current leading market positions through acquisitions and organic growth. On 1 January 2010 Arseus Dental switched from being
a country-led organisation to a business-led organisation. The aim of this change is to improve service to customers, make optimum use of the available knowledge and improve efficiency.
The annual trade fair of the Association Dentaire Française (ADF) was held in Paris in November. For the first time, all business units appeared under the flag of Arseus Dental in accordance with the slogan ‘one team, one company’. Julie-Owandy’s intra-oral sensor Visteo was awarded the Professional Innovation Prize 2009 at the ADF fair. The Visteo is a revolutionary sensor. It is the first sensor where signal transmission takes place
electro-magnetically by induction. This enables the dentist to see the radiological image directly on the computer screen and also means a significant reduction in the emission of X-rays.
Arseus Dental grew 9.1% in the fourth quarter, 3.8% of which was organic growth. On an annual basis the growth in turnover was 11.8% and the organic growth was 3.1%. This is a more than satisfactory result in the light of current market conditions.
The reduced demand for prostheses means there has also been a reduction in the demand for precision components for the dental orthopaedic industry. Consequently, the turnover generated by Hader in Switzerland was approximately 25% lower in 2009.

OUTLOOK FOR 20102
Based on the current view and Arseus’ existing portfolio, Arseus’ management is expecting turnover growth of between 5% and 10% in 2010 and a recurring EBITDA that is expected to grow faster than turnover.

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