PARIS (Agefi-Dow Jones)–The veterinary laboratory Virbac refined several of its annual objectives on Tuesday, after having suffered a 0.2% drop, at constant scope and exchange rates, in its turnover in the third quarter. .
For 2022, Virbac now expects a ratio of “current operating income before amortization of assets resulting from acquisitions” of between 14% and 15% at constant exchange rates.
Last month, the group said it was aiming for a ratio of “current operating income before amortization of assets resulting from acquisitions” of around 15% at constant exchange rates.
At the same time, the group has tightened its target range for turnover. Revenue growth at constant scope and exchange rates is now expected between 6% and 9%, and no longer between 5% and 10%.
For 2022, the veterinary laboratory is still aiming for debt reduction of around 30 million euros excluding dividends, at constant scope and exchange rates.
These new outlooks were unveiled during the third quarter business update.
During the quarter ended at the end of September, Virbac’s sales amounted to 304.9 million euros, up 5.8% in published data compared to the third quarter of 2021. However, it fell by 0.2% at constant scope and exchange rates, “in a context, as expected, of slowing market growth, and in comparison with a third quarter of 2021 which had been exceptional”, explained Virbac.
Analysts polled by FactSet had on average expected revenue of 298.3 million euros in the third quarter.
For the first nine months of the 2022 financial year, Virbac generated revenue of 921.2 million euros, up 12.7% on a reported basis and 7.7% at exchange rates and scope constant compared to the same period of the previous financial year.
-Vincent Alsuar, Agefi-Dow Jones; +33 (0)1 41 27 47 39; [email protected] ed: LBO
VIRBAC FINANCIAL RELEASES:
https://corporate.virbac.com/fr/home/investors/public-releases/2022.html
Agefi-Dow Jones The financial newswire
Dow Jones Newswires
October 18, 2022 12:18 ET (16:18 GMT)