GROUPE SNPE: Anticipating a good fiscal year 2008

The SNPE Board of Directors met on September 26, 2008 to approve the results of the first semester, which showed a net profit of 19 M€.

The semester turnover amounted to 321.1 M€, an 8.8% decrease from the first semester 2007 due to divestments to refocus the Group on its core business. For an equivalent scope, the turnover has risen by 4%.

The operating result has become profitable and the "recurrent" result, accounting for the profit of equity-accounted companies, reached 27 M€, confirming the Group’s recovery over the last years: for the record, it amounted to -32 M€ in 2004.

After accounting for non-recurrent operations, the Group recorded a net income of 19 M€ in the first semester.

SNPE’s net debt, which exceeded 450 M€ four years ago, is now reduced to 172 M€.

Consolidated turnover, debt reduction, significantly positive net income: these end-of-semester results foreshadow a good fiscal year 2008 and reflect the policy led by the Group over the last years: refocusing on the Group’s core business, recovery of the fine chemicals activity, reinforcement in the energetic materials field. These strategic choices combined with cost control, made it possible to straighten out a situation that was still fragile two years ago.

Press contact:<br> Jean-Marc Arnould, Director of Communications<br> E. mail: jm.arnould@snpe.com<br> Tel. 01 48 04 65 45 – Fax 01 48 04 68 87