(Update: details concerning Virbac’s exposure to Russia and Ukraine, cash level at the end of 2021)
PARIS (Agefi-Dow Jones)–The veterinary laboratory Virbac confirmed its financial objectives for 2022 on Tuesday after having achieved its profitability forecast in 2021.
For this year, as indicated last January, the group anticipates growth in its turnover at constant exchange rates and scope of between 5% and 8%, as well as a ratio of “current operating income before depreciation of assets from of acquisitions” on turnover which should “consolidate around 15% at constant exchange rates”.
Last year, current operating income before amortization of assets resulting from the acquisitions of Virbac jumped by 36.4%, to 173.2 million euros, while its turnover, already published, 1.06 billion euros, up 18.4% at constant scope and exchange rates.
The ratio of current operating income before amortization of assets resulting from acquisitions to revenue stood at 16.3% real rate in 2021, compared to 13.6% in 2020. This same ratio reached 15.9% real rate. constants.
For the past financial year, the group was counting on a ratio of current operating income before amortization of assets resulting from acquisitions to sales of around 16% at constant exchange rates. Analysts polled by FactSet expected current operating income before amortization of assets from acquisitions of 170.9 million euros for the 2021 financial year, representing 16.1% of real rate revenues.
“This improvement is mainly due to the remarkable growth of our turnover, driven by very solid performances in all areas and good market momentum,” the company explained in a press release. Regarding its geographic exposure, Virbac specified that its sales in Russia and Ukraine accounted for less than 0.5% of its total turnover.
While the company’s net cash increased by 16.4% in one year, to stand at 73.8 million euros at the end of 2021, the managers announced their intention to propose to the general meeting of 21 next June, the payment of a dividend of 1.25 euros per share for the last financial year. This amount represents an increase of 67% compared to the dividend paid for 2020.
-Dimitri Delmond, Agefi-Dow Jones; +33 (0)1 41 27 47 31; [email protected] ed: LBO
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March 22, 2022 13:51 ET (17:51 GMT)