Dechra Pharmaceuticals

Equities

DPH

GB0009633180

Delayed London S.E. Other stock markets 02:30:00 2024-01-16 am EST			5-day change	1st Jan Change
3,866 ^GBX	-.--%		-.--%	+0.21%

Apr. 11	Dechra Pharmaceuticals Limited reached agreement in principle to acquire 33.34% stake in STEM Animal Health Inc. for $4.7 million.	CI
Apr. 09	Dechra Group Holdings Limited Appoints Paul Nicholas Sandland as Director	CI

Dechra half-revenue up; outlook for full-year remains "positive"

January 12, 2023 at 05:42 am EST

(Alliance News) - Dechra Pharmaceuticals PLC on Thursday said revenue grew in the first half of its financial year 2023 despite a "very tough" comparator, with North America performing much stronger than its EU business.

The veterinary products firm said that total revenue in the first half of its financial year ended December 31 was up 5% at constant exchange rates. At actual exchange rates revenue was up 14%.

The growth was driven by its North America business, where revenue climbed 16% at constant exchange rates and 35% at actual exchange rates. Meanwhile revenue at its EU business declined by 2% at constant exchange rates but was up by 1% at actual exchange rates.

Dechra noted that the integration of both acquisitions Piedmont Animal Health Inc and Med-Pharmex Inc are progressing well.

The company agreed to buy Piedmont Animal Health for USD210 million in July. Greensboro, North Carolina-based Piedmont makes products for the companion animal market, which will add to Dechra's portfolio of innovative and novel solutions for vets and pet owners.

It then bought California-based veterinary pharmaceutical manufacturer Med-Pharmex for USD260.0 million in August. Med-Pharmex, founded in 1983, has expertise in topical, oral and certain injectable products.

Looking ahead, Dechra said its outlook for the full-year remains "positive" and it is confident in achieving current market expectations. The company-compiled consensus estimate for financial year 2023 underlying earnings before interest and tax is GBP191 million. In 2022, the company reported Ebit of GBP174.3 million.

The company expects the balance of both revenue and profit to be more second half weighted.

It added that in the longer term, Dechra is confident in the "historical resilience" of the animal healthcare market and the positioning of the company within it.

Dechra will announce its interim results for the period on February 27.

Chief Executive Ian Page said: "I am pleased with how the group has delivered revenue growth in the first half of our financial year, with our core markets of Europe and North America both having performed well. Although revenue growth has, as expected, slowed from the extraordinary levels of the past two years, we continue to remain agile in responding to market conditions and our product portfolio is resilient in times of global economic uncertainty."

Shares in Dechra were up 2.5% to 2,766.00 pence each in London on Thursday morning.

By Sophie Rose, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Dechra Pharmaceuticals

Dechra Pharmaceuticals Limited reached agreement in principle to acquire 33.34% stake in STEM Animal Health Inc. for $4.7 million.	Apr. 10	CI
Dechra Group Holdings Limited Appoints Paul Nicholas Sandland as Director	Apr. 09	CI
Dechra Group Holdings Limited Appoints Ian David Page as Director	Apr. 09	CI
Dechra Group Holdings Limited Announces Resignation of Thomas Spicer as Director	Apr. 09	CI
Dechra Group Holdings Limited Announces Resignation of Anthony Santospirito as Director	Apr. 09	CI
Dechra Group Holdings Limited Announces Resignation of Sara Huda as Director	Apr. 09	CI
Stocks slump as Fed rate cut hope dwindles	Jan. 17	AN
Dechra Pharmaceuticals Delists From London Bourse Following Freya Bidco’s Takeover	Jan. 17	MT
EQT's Freya Bidco Completes Dechra Pharmaceuticals Purchase	Jan. 16	MT
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from FTSE 100 Index	Jan. 16	CI
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from FTSE All-World Index	Jan. 16	CI
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from FTSE 350 Index	Jan. 16	CI
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from FTSE All-Share Index	Jan. 16	CI
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from FTSE 350 (Ex Investment Companies) Index	Jan. 16	CI
Dechra Pharmaceuticals PLC(LSE:DPH) dropped from S&P Global BMI Index	Jan. 16	CI
EQT X EUR SCSp and EQT X USD SCSp managed by Eqt Fund Management S.à R.L. and Luxinva SA (the Offerors) completed the acquisition of Dechra Pharmaceuticals PLC.	Jan. 15	CI
Persimmon to replace outbound FTSE 100 constituent Dechra	Jan. 12	AN
EMEA Morning Briefing : Markets to Track Fresh Middle East Tensions	Jan. 12	DJ
EU clears Dechra Pharmaceuticals takeover by EQT funds	Dec. 27	AN
EQT's Dechra Takeover to Become Effective in Mid-January 2024	Dec. 27	MT
EQT's Takeover of Dechra Pharmaceuticals Gets EU Antitrust Regulator's Nod	Dec. 22	MT
Inchcape to appoint Jerry Buhlmann to chair board of directors from May	Dec. 14	AN
EQT Secures Australian Nod for Dechra Pharmaceuticals Takeover	Nov. 30	MT
FTSE 100 Ends Down, Falling Behind European Peers	Nov. 29	DJ
Hargreaves Lansdown picks Dechra chair Alison Platt as chair	Nov. 29	AN

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Company Profile

Dechra Pharmaceuticals PLC specializes in the manufacturing and marketing of veterinary pharmaceutical products. Net sales break down by family of products as follows: - companion animal products (74.6%); - food producing animal products (11.5%); - equine health products (7.3%); - animal feeds (5.1%); - other (1.5%): products manufactured by third parties. Net sales are distributed geographically as follows: the United Kingdom (8.5%), Germany (9.2%), Europe (31.2%), the United States (37.9%) and other (13.2%).

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