Regulatory News:

Vetoquinol (Paris:VETO) posted sales of €114.5 million for the third quarter of 2020, up 14.3% as reported compared to the same period last year. All Vetoquinol territories posted strong performances with organic growth of 4% in Europe, 16% in the Americas and 29% in Asia Pacific/rest of world. Currency movements curbed Q3 2020 sales by €4.6 million or 4.6%, mainly affecting the Americas territory (Brazil and USA). Third quarter 2020 sales of Essentials products totaled €58.5 million (up 26.8%), driven by 13.6% like-for-like growth as well as the contribution of Profender® and Drontal® products sales (13.2%).

Q3 2020

KEY FIGURES

 

Total Group Sales

€114.5 million

up 18.9%

at constant exchange rates

 

Essentials Sales

€58.5 million

up 26.8%

at constant exchange rates

Group sales for the first nine months of 2020 amounted to €310.6 million, up 9.4% as reported and up 11.5% at constant exchange rates.

Nine-month sales of Essentials products, the driving force behind Vetoquinol’s strategy, totaled €157.7 million, up 16.2% at constant exchange rates. Essentials products accounted for 50.8% of Vetoquinol sales for the first nine months of 2020, up from 48.2% during the same period in 2019.

Sales of companion animal products came to €184.5 million, up 13.2% at constant exchange rates. Sales of livestock products came to €126.2 million, up 9.2% at constant exchange rates.

All Group territories posted growth over the first nine months: 8.8% in Europe, 10.0% in the Americas and 22.6% in Asia Pacific at constant exchange rates.

COVID-19 pandemic, October 15, 2020 update

1- Vetoquinol continues to guarantee the health and safety of its employees by scrupulously observing preventive measures and social distancing. The Group continues to apply the measures introduced in accordance with World Health Organization directives and government measures imposed in countries where it operates.

2- For the time being, the Group’s business activities are broadly continuing with a limited impact on manufacturing and research operations.

3- The Group has kept its crisis unit up and running in order to ensure flexibility and responsiveness in the face of the pandemic.

* Unaudited data

Vetoquinol CEO Matthieu Frechin said: “I am proud of the work done by our teams during the first nine months of 2020. Despite the adverse impact of this exceptional and unprecedented health crisis, we have succeeded in continuing the roll-out of our strategic plan, underpinned by the strength of our Essentials product portfolio, acquisitions, expense-management initiatives and the unflagging commitment shown by our employees. The acquisition of the Profender® and Drontal® products has enabled us to reach a major milestone in the execution of our strategy, with their initial integration into our Essentials portfolio going ahead according to plan. We are all working together to achieve our growth ambitions for 2020 and the forthcoming period.”

€m

2020

2019

Change
(reported
data)

Change
(constant
exchange
rates)

Change
(LFL)

Q1 Sales - total

103.4

90.9

+13.7%

+13.4%

+10.5%

Q2 Sales - total

92.7

92.9

-0.2%

+1.8%

+4.6%

Q3 Sales - total

114.5

100.1

+14.3%

+18.9%

+17.2%

Aggregate 9-month sales

310.6

283.9

+9.4%

+11.5%

+10.7%

Next update: 2020 Annual Sales - January 21, 2021 after market close.

About Vetoquinol
Vetoquinol is a leading global animal health company that supplies drugs and non-medicinal products for the livestock (cattle and pigs) and pet (dogs and cats) markets.
As 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. At June 30th 2020, Vetoquinol employs 2,401 people.
Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).

For further information, go to: www.vetoquinol.com.

ALTERNATIVE PERFORMANCE INDICATORS

Vetoquinol Group management considers that these indicators, which are not defined by IFRS, provide additional information that is relevant for shareholders seeking to analyze underlying trends and Group performance and financial position. They are used by management for performance analysis.

Essentials products: The products referred to as “Essentials” comprise veterinary drugs and non-medical products sold by the Vetoquinol Group. They are existing or potential market-leading products designed to meet the daily requirements of vets in the companion animal or livestock sector. They are intended for sale worldwide and their scale effect improves their economic performance.

Constant exchange rates: Application of the previous period’s exchange rates to the current financial year, all other things remaining equal.

Like-for-like (LFL) growth: Year-on-year sales growth in terms of volume and/or price at constant exchange rates.