Virbac: Strong revenue growth as of the end of September at +12.6% and +8.6% at constant exchange rates and scope. 2024 targets maintained.
2024年10月18日 - 12:45AM
RNSを含む英国規制内ニュース (英語)
Virbac: Strong revenue growth as of the end of September at +12.6%
and +8.6% at constant exchange rates and scope. 2024 targets
maintained.
KEY FIGURES |
Revenue at the end of September
€1 042.1M |
Growth at constant exchange rates
and scope1
+8.6% including
companion animals +11.9%
farm
animals
+3.2% |
Growth at constant
exchange rates2
+14.0%
|
Overall
change
+12.6%
|
1growth at constant
exchange rates and scope corresponds to organic growth of sales,
excluding exchange rate variations, by calculating the indicator
for the financial year in question and the indicator for the
previous financial year on the basis of identical exchange
rates (the exchange rate used is the previous financial year), and
excluding material change in scope, by calculating the indicator
for the financial year in question on the basis of the scope of
consolidation for the previous financial year
2this change is calculated on the actual
scope of consolidation, including scope impacts arising from
acquisitions (Globion and
Sasaeah), for which the indicator in question is
calculated on the basis of the previous year's exchange
rate
Quarterly consolidated
revenue
In the third quarter, our revenue reached €339.2 million, strongly
up by +7.7%. At constant exchange rates, our activity grew by +9.9%
compared to the same period in 2023. Recent external growth
operations (acquisitions of Globion in India and Sasaeah in Japan)
contributed +6.5 growth points during this period. After adjusting
for the related scope effect, growth at constant exchange rates and
scope reached +3.4%. This quarter's performance was impacted by an
unfavorable base effect: in 2023, activity had strongly rebounded
in the third quarter following two unfavorable one-offs (limited
production capacity for dog and cat vaccines and a cyberattack in
June 2023).
In a market environment with globally favorable trends, we observe
contrasting organic growth dynamics across geographies. In line
with the first half's trend, Europe maintains strong growth (+11.8%
at constant exchange rates and scope), driven by the ruminants and
companion animal segments, particularly vaccines, petfood/pet care
and parasiticides products. In the USA, our activity shows a
decline of -6.0% at constant exchange rates and scope, impacted by
a temporary destocking effect at one of our distributors. Latin
America reports a solid growth (+7.4% at constant exchange rates
and scope), supported by strong performances in Mexico, Central
America and Brazil. In the India, Middle East, and Africa area
(IMEA, +3.4% at constant exchange rates and scope), our activity is
driven by strong sales dynamics in avian and bovine products, as
well as the aquaculture range. Far East Asia growth (+2.8% at
constant exchange rates and scope) is primarily driven by the
ruminants segment and our specialty products for companion animals.
Finally, activity in the Pacific area records a significant decline
of -25.4% at constant exchange rates and scope, impacted by
anticipated unfavorable trends in Australia related to constraining
climatic and macroeconomic factors affecting the livestock
market.
Cumulative consolidated revenue at the
end of September
Our revenue as of the end of September stands at €1,042.1 million,
compared to €925.3 million, reflecting an overall change of +12.6%
compared to the same period in 2023. Excluding currency effects,
revenue shows a notable growth of +14.0%. The integration of
recently acquired companies (Globion in India and Sasaeah in Japan)
contributed +5.4 points of growth. Supported by a globally positive
market dynamic, excluding scope and currency impacts, our organic
growth stands at +8.6%.
Europe (+12.1% at constant exchange rates and scope) contributes to
more than half of the Group's organic growth, benefiting from a
strong rebound in the dog and cat vaccine range and increased
demand for our petfood/petcare ranges. Despite a third quarter
impacted by temporary destocking effects at one of our
distributors, North America recorded double-digit growth (+12.5% at
constant exchange rates and scope), driven by strong sales momentum
in our specialty products for companion animals. Remarkable
performances in Chile, Mexico, and Colombia support growth in Latin
America (+9.4% at constant exchange rates and scope). India remains
a key driver of growth in the IMEA region (+7.4% at constant
exchange rates and scope). The expansion of our avian range,
following the acquisition of Globion vaccines, allows us to achieve
nearly 17% growth at constant exchange rates. Far East Asia is up
+6.7% at constant exchange rates and scope, primarily driven by
China and Southeast Asian countries. The integration of Sasaeah
significantly strengthens our size in this region, which posted
over 60% revenue growth at actual rates and scope. The Pacific area
is down (-8.6% at constant exchange rates and scope), impacted by a
market downturn in the livestock segment.
In terms of species, the
companion animal segment posted strong growth of +11.9% at constant
exchange rates and scope, driven by the positive momentum in our
dermatology, petfood, and specialty product ranges, which are
achieving double-digit growth, as well as our dog and cat vaccine
range following increased production capacity. The farm animal
segment posted growth of +3.2% at constant exchange rates and
scope, mainly supported by strong progress in the aquaculture and
swine segments, while the ruminants segment remained stable over
the period.
Outlook 2024
Once again, we confirm our revised forecasts: at constant exchange
rates and scope, we anticipate revenue growth between 7% and 9%, as
well as an adjusted Ebit ratio3 of around 16%. The
contribution of recent external growth operations4 is
expected at approximately +5.5 growth points on revenue, with a
slightly accretive impact on the Group profitability. At constant
exchange rates and actual scope, revenue growth is therefore
expected to be between 12.5% and 14.5%.
3“Current operating
profit before amortization of assets resulting from
acquisitions” to “Revenue” ratio
4acquisitions of Globion
in India and Sasaeah in Japan
Consolidated revenue by
quarter
CONSOLIDATED FIGURES
Non-audited figures
in € million |
2024 |
2023 |
Growth |
Growth
at constant exchange rates2 |
Growth
at constant exchange rates and scope1 |
First quarter revenue |
345.7 |
314.8 |
+9.8% |
+10.8% |
+9.7% |
Second quarter revenue |
357.2 |
295.7 |
+20.8% |
+21.8% |
+13.1% |
Third quarter revenue |
339.2 |
314.8 |
+7.7% |
+9.9% |
+3.4% |
Revenue at the end of September |
1 042.1 |
925.3 |
+12.6% |
+14.0% |
+8.6% |
Cumulated consolidated revenue at the
end of September by region
CONSOLIDATED FIGURES
Non-audited figures
in € million |
2024 |
2023 |
Growth |
Growth
at constant exchange rates2 |
Growth
at constant exchange rates and scope1 |
Europe |
420.9 |
376.1 |
+11.9% |
+12.1% |
+12.1% |
North America |
133.5 |
119.1 |
+12.1% |
+12.5% |
+12.5% |
Latin America |
165.9 |
153.4 |
+8.1% |
+9.4% |
+9.4% |
Far East Asia |
94.4 |
58.7 |
+61.0% |
+71.7% |
+6.7% |
Pacific |
85.1 |
94.5 |
-10.0% |
-8.6% |
-8.6% |
IMEA5 |
142.3 |
123.5 |
+15.2% |
+16.9% |
+7.4% |
Revenue at the end of September |
1 042.1 |
925.3 |
+12.6% |
+14.0% |
+8.6% |
1growth at constant
exchange rates and scope corresponds to organic growth of sales,
excluding exchange rate variations, by calculating the indicator
for the financial year in question and the indicator for the
previous financial year on the basis of identical exchange
rates (the exchange rate used is the previous financial year), and
excluding material change in scope, by calculating the indicator
for the financial year in question on the basis of the scope of
consolidation for the previous financial year
2this change is calculated on the actual
scope of consolidation, including scope impacts arising from
acquisitions (Globion and
Sasaeah), for which the indicator in question is
calculated on the basis of the previous year's exchange
rate
5lndia, Middle East and
Africa
Third Quarter 2024 key events
-
September,13 Share
capital reduction by cancellation of 67,340 treasury shares.
-
September,27 Habib
Ramdani is appointed as chief executive officer, replacing
Sébastien Huron who stepped down.
Focusing on animal health, from the
beginning
At Virbac, we provide innovative solutions to veterinarians,
farmers and animal owners in more than 100 countries around the
world. Covering more than 50 species, our range of products and
services enables to diagnose, prevent and treat the majority of
pathologies. Every day, we are committed to improving animals’
quality of life and to shaping together the future of animal
health.
Virbac: Euronext Paris - subfund A - ISIN code:
FR0000031577/MNEMO: VIRP
Financial Affairs department: tel. +33 4 92 08 71 32 - email:
finances@virbac.com - Website: corporate.virbac.com
Virbac (EU:VIRP)
過去 株価チャート
から 11 2024 まで 12 2024
Virbac (EU:VIRP)
過去 株価チャート
から 12 2023 まで 12 2024