Regulatory News:
Matthieu Frechin, Chairman and CEO of Vetoquinol (Paris:VETO), commented:"The good long-term performance of our two strategic axes, Essentials and the United States, continues to demonstrate the solidity of our business model and its ability to deliver, beyond base effects, a good level of profitability and solid cash generation".
The Vetoquinol Group recorded sales of €133.7 million in the 1st quarter of fiscal 2024, including €83.4 million for Essential products.
Business in the 1st quarter of 2024 is not comparable with that of the previous year, given the overstocking effect with our customers in Q1 2023, linked to the anticipated implementation of the new ERP in April 2023. For this reasonthe Group will not communicate on the evolution of this data compared with the 1st quarter of the previous year.
Geographically and on a reported basis, sales in Europe came to €70.2m, in the Americas to €46.2m, including €28.5m for the United States, and in Asia/Pacific to €17.3m.
Sales of products for companion animals came to €94.3m, and sales for farm animals to €39.4m.
A comparison with FY 2022 eliminates the base effect and gives a relevant idea of the dynamics of the Group's activities, and in particular of its two strategic drivers, Essentials and the United States. In 2023, these activities accounted for almost 75% of sales.
In the 1st quarter 2024 and at constant exchange rates, Essentials achieved organic growth of +8.1% and the United States grew by +16.8% compared with the first quarter 2022.
Vetoquinol's two strategic drivers are continuing to grow at a sustained pace; the base effect mentioned above will be smoothed out by the end of the 1st half-year 2024.
Solid cash flow generation continues to strengthen Vetoquinol's financial structure.
Sales for the first quarter of 2024 have not been audited by the Statutory Auditors.
Next publication: Sales and Interim Results, September 12, 2024
ABOUT VETOQUINOL
Vetoquinol is a leading international player in animal health, with operations in Europe, the Americas and Asia/Pacific.
Independent and a pure player, Vetoquinol innovates, develops and markets veterinary medicines and non-medicated products for livestock (cattle, pigs) and pets (dogs, cats).
Since its creation in 1933, Vetoquinol has combined innovation and geographic diversification. The strengthening of the product portfolio and acquisitions in high-potential territories ensure hybrid growth for the Group. At December 31, 2023, Vetoquinol employed 2,483 people.
Vetoquinol has been listed on Euronext Paris since 2006 (mnemonic code: VETO).
Vetoquinol is eligible for PEA and PEA-PME.
ALTERNATIVE PERFORMANCE INDICATORS
Vetoquinol Group management believes that these non-IFRS indicators provide additional information that is relevant to shareholders in their analysis of the Group's underlying trends, performance and financial position. These indicators are used by management to analyze performance.
Essential productsEssential products are veterinary medicines and non-medicinal products marketed by the Vetoquinol Group. These are leading products, or products with the potential to become leaders, which meet the day-to-day needs of veterinarians in the livestock or companion animal segments. These products are destined to be marketed worldwide, thus leveraging their economic performance.
Constant exchange rates: The term "constant exchange rate" refers to the application of the previous period's exchange rates to the current year, all other things being equal.
Organic growth: Organic growth refers to growth in Vetoquinol's sales due to an increase in sales volume and/or prices in year N compared with year N-1, at constant exchange rates and scope of consolidation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240429380147/en/
Contacts:
FOR FURTHER INFORMATION PLEASE CONTACT:
VETOQUINOL
Investor Relations
Fanny Toillon
Tel: +33 (0)3 84 62 59 88
relations.investisseurs@vetoquinol.com
