Virbac reports strong growth during 2016

Virbac has announced its financial results for the 2016 business year, during which it delivered an annual sales total of 871.9 million euros (754.65 million pounds).

This represented a year-on-year growth of 2.3 percent, or 4.5 percent when factoring out the impact of unfavourable exchange rates. A strong fourth-quarter sales total of 225.7 million euros – representing a 9.2 percent improvement on Q4 2015 – contributed to this.

Growth was driven primarily by sales in the US, with established brands such as the internal parasiticides lverhart Plus and Iverhart Max performing strongly, as well as its dental and dermatology ranges.

Europe was up by 4.6% at comparable rates, notably as a result of sustained activity in France, thanks to the recent launches of parasiticide products, Effitix and Milpro and a favourable base effect due to low sales of anitbiotics in 2015, as well as the performance of the UK, Italy Greece and Spain. In other regions, emerging countires contributed strongly to organic growth thanks to the dynamism of India in ruminant ranges, including nutritional supplements, parasiticides and antibiotics, from China with good performance on companion animal products and on the industrial range, in Brazil and Mexico, notably on antibiotics for ruminants.

Virbac’s report also noted that its current adjusted operating profit levels are expected to exceed ten percent at constant exchange rates, while the continued deleveraging seen in the second half of the year will help the firm reduce its level of net debt.

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