Business
Vetoquinol: Annual Results 2024
Vetoquinol: Annual Results
About this update from Vetoquinol Sa
[{"type":"text","content":"\nRegulatory News:\n\nMatthieu Frechin, Chairman and CEO of Vetoquinol (Paris:VETO), commented: \"In 2024, we delivered a solid financial year, combining growth in almost all our reference markets, high profitability and sustained cash generation. We have achieved this performance while absorbing the sometimes significant uncertainties, such as in the United States this year, as well as the cost of transforming the Group. This is due to the strength of our model built around Essentials, which have achieved an annual average growth above 8% since 2014, and to our reactive management, which enables us to adapt quickly to changing economic conditions.\nWe will therefore actively pursue the implementation of this strategy in 2025, while paying particular attention to the uncertainties arising from recent geopolitical upheavals.\nThe Board of Directors of Vetoquinol SA met on March 18, 2025 to review business activity and approved the financial statements for the year ended December 31, 2024. The audit procedures are currently being finalized by the Statutory Auditors.\n\nVetoquinol sales for FY 2024 totaled €539 million, up 1.9% on a reported basis and 2.2% at constant exchange rates. Foreign exchange had a negative impact of €1.9m.\n\nThe program to simplify the Complementary products portfolio had a negative impact on Vetoquinol’s annual sales of around €8m for the year, or around -1.5% of sales.\n\nSales of Essential products totaled €328 million, up 4.6% on a reported basis and at constant exchange rates. These products, the key drivers of the Group's strategy, confirmed their solid growth momentum. However, this figure does not reflect their real performance given the unavailability in the 1st half-year of one of the main Essential product ranges in the United States. Since the launch of this strategy in 2014, sales of Essentials have more than doubled, posting an average annual growth of over 8%. They now account for 61% of Group sales. In addition to their growth momentum, these products have a higher gross margin than complementary products.\n\nGeographically, Europe (+5.1%), Asia Pacific/Rest of World (+4.1%) and the Americas excluding the United States (+3.1%) grew on a reported basis.\nEurope, the Group's largest market accounting for almost 50% of sales, turned in a solid performance, driven in particular by Essential pr...