WORLD LEADER IN REPRODUCTION BIOTECHNOLOGY

IMV Technologies is the worldwide leader in equipment for animal artificial insemination (AI). IMV has significant market shares around the world:
- 70% of the worldwide market for bovine artificial insemination,
- 60% for poultry artificial insemination,
- 30% for swine artificial insemination.

The group enjoys very high international renown: IMV is the forerunner in the domain of AI and the inventor of the straw, namely the "Cassou Straw" (named after the founder).

IMV is the only actor to offer a complete product range for 14 animal species, and it has a strong international presence:
- 3 sales subsidiaries in the USA, India and Italy, as well as a liaison office in China,
- export accounted for 80% of the group's sales in 2007, through local distributors present in more than 80 countries.

IMV markets 3 types of products:
- consumables: 64% of the 2007 sales, single-use products,
- equipment: 20% of the 2007 sales, equipment and tooling that are complementary to the consumables,
- trading: 16% of the 2007 sales, products purchased and resold as they are.

CRYO VET, BIOVET and PIG'INS
These three entities were acquired by IMV Technologies in May 2007.
Cryo'Vet specialises in bovine artificial insemination, while Pig'ins works primarily in the swine field. Biovet is a solely a distribution company, primarily marketing the products from Cryo'vet and Pig'ins.

GENES DIFFUSION
The acquisition of the swine insemination equipment activity of Genes Diffusion by IMV Technologies was finalised in January 2008.

CIE PLAST
Acquired by IMV Technologies in December 2007, this company designs and manufactures gloves (approx. 12.5 M gloves/year), boots and smocks intended for artificial insemination procedures.

NIFA
Acquisition of this Dutch distributor in March 2010

2010 turnover: 47.6 million euros

Gilles de Robert,
Chairman

"Eurazeo pme is an essential partner for IMV: without confusing roles and getting involved in our operational management, they are very available and present at our sides, providing us with remarkable quality support as well as very efficient assistance within the framework of our acquisition strategy."

Activité 2010

2010 confirmed the solidity of IMV Technologies, the world leader in reproduction biotechnology. With revenue up by more than 7% to €47.6 million, of which more than 75% outside France, and profitability also enjoying sharp growth, the company will have come through the crisis admirably. This performance was underpinned by its business model, in which nearly 80% of its revenue is recurring, as it comes from the sale of consumables.

A year marked once again by international development, notably with the acquisition of Dutch distributor Nifa in March 2010, which enabled IMV Technologies to reinforce its presence on the German and northern European markets, adding €3 million to revenue. As in previous years, most of the group's growth came from emerging countries (Latin America, Russia, China and India), where the consumption of meat and milk is soaring, leading to increased needs from breeders. As a result, the group has strengthened its local structure, for example recruiting a General Manager for China. The crowning achievement of this export drive, the company won two prestigious trophies in 2010: the Ambition Award from La Tribune and the 2010 Entrepreneur of the Year Award for Western France (in the international company category), organised by Ernst & Young.

But the world leader in the design, manufacture and distribution of artificial insemination equipment for animals (14 species), with 80% of the bovine market and 30% of the swine market, is also a leader in innovation, notably with its famous "Cassou Straw". In 2010, the company launched the first biodegradable swine insemination probe, which earned it an innovation award from EuroTier (a leading international trade fair on animal reproduction).
The R&D team of IMV Technologies is also working on ambitious projects involving biotechnology, another focus for the company as a source of growth.

Prospects
Given that markets are growing steadily but are increasingly affected by price pressure, the company decided to pursue its strategic focus on biotechnology, human health and high-potential countries. The group has already advanced on this strategy that OFI Private Equity Capital will continue to back as a minority shareholder (11% stake), as the share capital of IMV Technologies is majority owned by Pragma Capital since the autumn of 2010.

Sustainable Development

The governance of IMV Technologies follows a Code of Ethics, which was signed by all company managers in 2009 and a Sustainable Development Charter drafted in 2010.
The appointment of a Quality and Sustainable Development Director confirms the drive of IMV Technologies tomake it one of the strategic focuses of its development.

The human resources policy of IMV Technologies is primarily based on training, skills development and career management for employees. A "communication and management" training programme given over the past three years has developed teamwork and cohesion for HR management in project mode established by Management.

Regarding ENVIRONMENT, IMV Technologies opened in summer 2010 its new industrial and administrative head office covering 13,500 m² designed in line with HQE standards (éco-construction, éco-management (local wood heating, low-energy lighting, photovoltaic roof panels…), comfort/health.

In addition with classical communication means, a "Green Team", brainstorming team with volunteers from each department, involves everyone at IMV Technologies to reduce the ecological footprint.For example, the "Paperless/Dematerialisation" Project launched two years ago has reduced paper consumption by 44%.

Following the Bilan Carbone® performed in 2009, a carbon impact study on freight showed that a programme to reduce the ecological footprint could also reduce freight costs.

IMV Technologies is also involved in projects aimed at promoting biodiversity and actively participates in collective sustainable development.