Vetoquinol: well made

( — Vetoquinol fell 0.9% below 80 euros this Friday, while the group recorded a turnover of 136 million euros in the 3rd quarter of the 2023 financial year, up +1.3% based on published data and +5.1% at constant exchange rates. Over this same period, the laboratory recorded negative exchange rate impacts of -5 ME, linked to the Americas and Asia Pacific/Rest of the world territories.

At the end of September 2023, the unaudited turnover of the Vetoquinol laboratory stood at €392 million, down 3.2% based on published data and -1.4% at constant exchange rates. Foreign exchange impacts are negative for an amount of -7 ME (-1.8%). Essential products represent 59% of the Group’s turnover, growing by +3.3% at constant exchange rates.
The Group’s cash flow at the end of September remains solid…

“A very good publication,” comments Portzamparc, who underlines that the organic growth of +5.1% marks a first rebound after a slowdown observed over the previous four quarters… “Our scenario is very slightly raised and we reiterate our ‘Buy’ recommendation with a price target of 101.8 euros” concludes the analyst.


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