Virbac consolidated sales in the second quarter reached 173.0 M?, a +11.9% change compared to the same period of 2011. Sales increased by +9.1% excluding favourable exchange rates impacts and +9.8% at constant scope. All geographic regions recorded a positive evolution thanks, like in the first quarter, to a solid growth in Southern Europe, in emerging countries, in the United States and Japan, and to large countries such as France and Australia coming back to a positive trend. Early May Virbac divested its business in specialized channels (garden centers, petstores): hygiene products and parasiticides in France and pet nutrition products in Europe, which account for around 10 M? on a full year basis.
Total half-year sales amount to 349.4 M? compared to 314.5 M? in 2011, a +11.1% overall growth, of which +8.9% at constant exchange rates and +9.2% at constant scope.
- From a regional perspective, such performance is linked to the high level of growth generated : in Southern Europe with the launch of CaniLeish (canine leishmaniosis vaccine); in the United States with all product ranges, the launch of new products (Easotic -dermatology-, Effitix -parasiticide-) and the ongoing expansion of Iverhart, which also benefited from the temporary closure of a competitor's manufacturing site; in Latin America with a strong development in Brazil and Colombia; in Asia with in particular India and Japan. Conversely, sales remained stable in France and in Northern Europe, where markets evolution globally remains low, and decreased slightly in Australia and South Africa after a strong growth in 2011.
- Business by species reflects these geographic trends. The companion animals segment enjoyed a + 14.4% organic growth, driven primarily by the performance of the United States and Southern Europe, but also more generally by all countries. Organic growth in the food producing animals segment reached +2.2%; the high level of activity in the emerging countries is partially offset by a decrease in Europe, in a sluggish market, and by the evolution in South Africa and Australia mentioned previously.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Virbac specializes in the research, production and marketing of veterinary medicines. The activity is organized around 2 product families:
- pet medications: pest control drugs, vaccines, antibiotics, anesthetics, anti-inflammatory drugs, mouth/dental care products, ophthalmologic and dermatological products intended for dogs, cats, horses, birds, rodents, etc. The group also offers foods and electronic identification chips;
- livestock medications: pest control drugs and antibiotics intended for cattle, sheep, pigs, poultry, etc.
Net sales are distributed geographically as follows: France (15.8%), Europe (24.9%), Asia (17.5%), Latin America (16.2%), North America (13.3%), Pacific (9.7%), Africa and Middle East (2.6%).