+2.0% on a like-for-like basis
H1 2022 Essentials Sales: €154m, up 9.8% +6.8% on a
like-for-like basis
Regulatory News:
Matthieu Frechin, Chief Executive Officer of Vetoquinol
(Paris:VETO), said: "In a global animal health market that is
normalising after two years of exceptional growth, our laboratory
is continuing to expand, driven by our strategy of focusing on our
Essential products and on the most promising territories. Our
recent launches, combined with a large-scale marketing plan, offer
us solid prospects. As a result, we expect to continue to grow at a
sustained pace, outpacing the market in Essentials, while remaining
opportunistic in terms of external growth. "
Q2 2022 sales amounted to €136m, up +6.7% on a reported basis
and up +1.8% on a like-for-like basis compared to the same period
last year, with 2 favourable characteristics:
- Geographic balance: all strategic territories posted
consistent growth on a reported basis of +5.0% in Europe, +9.5% in
the Americas and +6.2% in Asia/Pacific.
- Strategic consistency: in the second quarter of 2022,
sales of Essential products reached €77m (up 11.5% on a reported
basis), driven by strong organic growth and in particular the
launches of Felpreva®, Imoxi® and Phovia®.
Over the first half of the year, Vetoquinol recorded sales of
€271m, up 6.1% on a reported basis and 2.0% on a like-for-like
basis. The laboratory recorded a positive currency impact of
€11m (+4.1%), mainly due to the appreciation of the US dollar
against the euro.
At 30 June 2022, all strategic territories grew on a reported
basis, +0.9% in Europe, +12.9% in the Americas and +9.3% in
Asia/Pacific, and on a like-for-like basis, +0.4% in Europe, +2.7%
in the Americas and +5.4% in Asia/Pacific.
The performance of the first six months of 2022 is the result
of the continued growth of Essential products, the driving force of
the laboratory's strategy, which grew by 9.8% on a reported
basis and 6.8% on a like-for-like basis. They represent 56.8% of
the laboratory's sales in the first half of 2022, compared with
54.9% in the first half of 2021.
Sales of companion animal products (€183m) accounted for 67.5%
of total sales, up 9.8% on a reported basis and 5.7% on a
like-for-like basis. Sales to farm animals amounted to € 88
million, down 0.8% on a reported basis and down 5.1% on a
like-for-like basis, in line with the dynamics observed in each of
these market segments (source: Vetoquinol).
Russian-Ukrainian conflict and health situation
Vetoquinol is not directly present in Ukraine and Russia, but
remains exposed to the consequences of the economic tensions of
this conflict and in particular to the sharp increases in the cost
of certain raw materials, energy and logistics.
The laboratory also remains attentive and vigilant to the
evolution of the health crisis in the countries where it sells its
products and purchases goods and services. It continues to do its
utmost to guarantee the health and safety of its employees, while
respecting its commitments to its customers and stakeholders.
The sales for the first 6 months of 2022 are being reviewed by
the Statutory Auditors.
Next publication: Half-Yearly Results 2022, September
15th, 2022 after stock exchange closing
ABOUT VETOQUINOL Vetoquinol is a leading global animal health
company that supplies drugs and non-medicinal products for the farm
animals (cattle and pigs) and companion animals (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 2,621 people as of June 30th,
2022.
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
2022
2021
Change (reported data)
Change (constant exchange
rates)
Q1 Sales
135
128
+5.5%
+2.2%
Q2 Sales
136
127
+6.7%
+1.8%
First semester Sales
271
255
+6.1%
+2.0%
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220720005698/en/
FOR MORE INFORMATION, CONTACT:
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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