Vetoquinol: Third Quarter Revenues: €132 Million
14 Octobre 2021 - 06:00PM
Business Wire
+14.3% at constant exchange rates Third quarter sales of
Essential products: €75 million +26.0% at constant exchange
rates
Regulatory News:
Vetoquinol (Paris:VETO) CEO Matthieu Frechin said: “We
have achieved a particularly strong third quarter, up compared to
each of the first two quarters of the year. This sustained level of
activity recorded over the first nine months of the 2021 financial
year confirms our development dynamic initiated several months ago
and the soundness of our positioning. This situation allows us to
be confident and to confirm our objective of double-digit growth in
our activity and in our current operating income for the current
fiscal year.”
Revenues for the third quarter of 2021 amounted to €132
million, up 14.3% at constant exchange rates compared with the same
period of the previous year. All territories reported sustained
growth at constant exchange rates of +16.8%, +15.7% and +5.2%
respectively for Europe, the Americas and Asia/Pacific. In the
third quarter of 2021, sales of Essential products amounted to €75
million (+26% at constant exchange rates), driven by strong organic
growth and the development of the Drontal® and Profender®
anti-parasitic ranges acquired in August 2020.
The Vetoquinol laboratory recorded sales of €388 million for
the first nine months of 2021, up 26.4% at constant exchange
rates.
As of September 30, 2021, all of Vetoquinol's strategic
territories were up at constant exchange rates: +30.5% in Europe,
+27.0% in the Americas and +14.4% in Asia/Pacific.
The continued good sales momentum in the first nine months of
FY 2021 was driven by the continued growth of Essential
products, which rose by €60 million (+38% at constant exchange
rates). Complementary products also grew by 14.4% at constant
exchange rates over the same period. Essential products accounted
for 56.1% of the laboratory's sales in the first nine months of
2021, compared with 50.8% for the same period in 2020.
Sales of companion animals products (€252 million) accounted for
65% of total laboratory sales, up 37.7% at constant exchange rates.
Sales of livestock products amounted to €136 million, up 9.9% at
constant exchange rates. All species outperformed their respective
markets, enabling Vetoquinol to gain market share.
For the first nine months of 2021, foreign exchange impacts on
Group sales were -5 M€ (-1.6%), linked to the decline of the
Brazilian Real, the Indian Rupee and the US Dollar.
Covid-19 health situation as of October 14, 2021
Vetoquinol remains attentive and vigilant on the evolution of the
health crisis and continues to protect the health and safety of its
employees, while respecting all its commitments to its customers
and stakeholders.
Vetoquinol continues to rely on a solid financial structure and
cash flow generation. The revenues for the first nine months of the
year 2021 have not been audited by the Statutory Auditors.
Next update: Annual 2021 sales, January 20th, 2022 after
market close
ABOUT VETOQUINOL Vetoquinol is a leading global animal health
company that supplies drugs and non-medicinal products for the
livestock (cattle and pigs) and pet (dogs and cats) markets. As an
independent pure player, Vetoquinol designs, develops and sells
veterinary drugs and non-medicinal products in Europe, the Americas
and the Asia Pacific region. Since its foundation in 1933,
Vetoquinol has pursued a strategy combining innovation with
geographical diversification. The Group’s hybrid growth is driven
by the reinforcement of its product portfolio coupled with
acquisitions in high potential growth markets. Vetoquinol employed
2,540 people as of September 30th, 2021. Vetoquinol has been listed
on Euronext Paris since 2006 (symbol: VETO). The Vetoquinol share
is eligible for the French PEA and PEA-PME personal equity
plans.
ANNEX
€m
2021
2020
Change (reported data)
Change (constant exchange
rates)
Organic growth
Q1 sales
127.9
103.4
+23.8%
+28.3%
+11.7%
Q2 sales
127.4
92.7
+37.3%
+39.2%
+23.8%
Q3 sales
132.3
114.4
+15.7%
+14.3%
+10.0%
Aggregate 9-month sales
387.6
310.5
+24.8%
+26.4%
+14.6%
ALTERNATIVE PERFORMANCE INDICATORS Vetoquinol Group management
considers that these indicators, which are not defined by IFRS,
provide additional information that is relevant for shareholders
seeking to analyze underlying trends and Group performance and
financial position. They are used by management for performance
analysis.
Essentials products: The products referred to as
“Essentials” comprise veterinary drugs and non-medical products
sold by the Vetoquinol Group. They are existing or potential
market-leading products designed to meet the daily requirements of
vets in the companion animal or livestock sector. They are intended
for sale worldwide and their scale effect improves their economic
performance.
Constant exchange rates: Application of the previous
period’s exchange rates to the current financial year, all other
things remaining equal.
Like-for-like (LFL) growth: Year-on-year sales growth in
terms of volume and/or price at constant consolidation scope and
exchange rates.
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VETOQUINOL
Investor Relations Fanny Toillon Tel.: +33 (0)3 84
62 59 88 relations.investisseurs@vetoquinol.com
KEIMA COMMUNICATION
Investor & Media Relations Emmanuel Dovergne
Tel.: +33 (0) 1 56 43 44 63 emmanuel.dovergne@keima.fr
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