LURE, France--(BUSINESS WIRE)--Regulatory News:
Vetoquinol (Paris:VETO) sales for the first nine months of 2015 rose 8.7% to €251.8 million, boosted by a positive currency impact of €13.7 million. Organic growth for the same period came to 0.7%.
KEY FIGURES
Reference product
sales for the first 9
months
of 2015
€119.1 million
Up
10.6%
Reported sales of reference products rose 10.6% to €119.1 million for the first nine months; growth at constant exchange rates amounted to 5.7%. Reference products accounted for 47.3% of September year-to-date sales, up from 46.5% in 2014.
Reported sales of pet products were up 11%, while livestock sales rose 6.3%. This growth was driven by reference products, up 8.8% in the pet segment and up 13.8% for livestock. Vetoquinol recorded strong performances in the Americas and Asia with growth of 24.9% and 14.4% respectively.
Third quarter sales growth amounted to 2.9%, primarily driven by the Americas and Asia Pacific region and boosted by a 3.7% positive currency impact, partly offset by a 0.8% decrease in organic growth. Group sales declined in Europe (down 2.5%) as a result of measures to control the use of antibiotics, in an attempt to curb the development of bacterial resistance to antibiotics.
In Brazil, the Group continues to refocus its business on reference products and streamline the local product offering.
Two reference product launches underway
After its
mid-September announcement of the launch of UpCard©,
an innovative new drug for treating heart failure in dogs, Vetoquinol
continued to roll out new reference products by launching Permacyl©
in 15 European countries.
Permacyl© is prescribed
as a treatment for mastitis in dairy cows. This launch is part of the
Group's strategy to consolidate its position as a preferred partner in
the dairy farming sector. Vetoquinol CEO Matthieu Frechin explained: "The
Group is pursuing the course set by its strategic plan: focusing its
efforts on rolling out reference products in its main territories. Our
portfolio continues to expand with the addition of products and services
that provide vets, pet owners and breeders with cutting edge animal
healthcare solutions."
The Group's financial position remained strong at September 30, 2015, and the Group remains confident in the business outlook for 2015.
| Sales (€m) | 2015 | 2014 |
Change |
Change at |
Change at |
|||||
| Q1 | 81.3 | 73.2 | +11.0% | +4.8% | -2.7% | |||||
| Q2 | 85.9 | 76.1 | +12.8% | +4.7% | +5.6% | |||||
| Q3 | 84.6 | 82.2 | +2.9% | -0.7% | -0.8% | |||||
| Aggregate 9-month sales | 251.8 | 231.6 | +8.7% | +2.8% | +0.7% |
Next update: 2015 full-year sales, January 21, 2016 (after market close)
About Vetoquinol
Vetoquinol is a leading global
player in the animal health sector serving both the livestock (cattle
and pigs) and pet (dogs and cats) markets.
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 employs 2,024 people.
Vetoquinol has been listed
on NYSE Euronext Paris since 2006 (symbol: VETO).
For further information, go to: www.vetoquinol.com.