Vetoquinol SA

Latest Results (07.08.2024):

Annual Sales

Vetoquinol SA reported annual sales of €529 million for the year ended December 31, 2023. This figure remained stable at constant exchange rates but showed a slight decline of -1.9% on a reported basis. The company faced a negative foreign exchange impact of €10 million, primarily from the Americas and Asia-Pacific/Rest of World territories.

Essentials Sales

Sales of Essentials products for Vetoquinol SA totaled €313 million in 2023, marking a +4.5% increase at constant exchange rates and a +2.9% rise on a reported basis. Essentials products represented over 59% of the company's total sales by the end of the year, up from 56% in 2022. The second half of the year saw particularly strong performance, with organic growth of +10% for Essentials.

Net Income

Vetoquinol SA's net income for the year 2023 was €55.6 million, which equates to 10.5% of the company's total sales. This figure includes non-recurring items amounting to €2.6 million and financial income of €2.6 million. The company's EBITDA stood at €113.0 million, or 21.3% of sales, reflecting a solid financial performance.

Geographic Performance

In 2023, Vetoquinol SA's sales in the United States exceeded €120 million, up over 10% at constant exchange rates compared to the previous year. The European territory remained stable with a slight decline of -0.3%, while the Asia-Pacific/Rest of World territory saw a decline of -10.0%, mainly due to distributor business. The Americas territory grew by +5.1% over the full year.

Dividend Proposal

The Board of Directors of Vetoquinol SA will propose a dividend of €0.85 per share at the Annual General Meeting scheduled for May 28, 2024. This proposal reflects the company's solid financial structure and its strategy to continue growing its Essentials product portfolio and strengthening its presence in the United States.