(CercleFinance.com) – The animal health specialist Virbac announced on Monday evening that it had lowered its objectives for 2023 due to the slowdown in the growth of its market.
The laboratory specifies that it now expects growth in its turnover at constant rates and scope of between 0% and 4%, instead of a range of 4% to 6% previously.
Its adjusted Ebit ratio should meanwhile be in a range of between 12% and 13% at constant exchange rates, against a margin target of between 13% and 14% so far.
Beyond the slowdown in its market, the group says it is suffering from “larger than expected” production capacity limitations. for its dog and cat vaccines.
This situation, he explains, weighs on the absorption of its fixed costs as well as on its sales given the low level of its vaccine stocks.
Added to this is the impact of the cyberattack he suffered in June, of which he says he is not yet able to precisely assess all the consequences.
Virbac notes, however, that the dynamic of its activity remains positive in many regions and is confident in its forecasts for 2030, which remain unchanged.
Listed on the Paris Stock Exchange, the title fell by nearly 12% Tuesday morning in the first exchanges, reducing its progression to around 5% since the start of the year.