| FY24 Ahead Of Expectations | Equity Development

25th Apr by Equity Development

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In a trading update for the twelve months to end 31 March 2024, ECO Animal Health (LON:EAH) reports that revenue should be close to £90m; this compares to the March trading update outlook of £88.7m. The Group expects that FY24 (adj.) EBITDA should be in line with the current market consensus expectation of £7.8m (ED estimate was £7.6m). The year-end cash position was approximately £22.0m; we estimated £20.1m.

The Group also noted EBITDA delivery against the background of maintained investment in R&D, the wellspring of future product and revenue streams. Our FY24 estimates include provision for £4.2m of R&D spend for the year.

Our Fair Value range is 137p-146p, reflecting the potential in the pipeline of products under development, which is backed by the rigour of EAH’s development-to-distribution process.

Link to research: https://www.equitydevelopment....

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Equity Development

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