REG - Eco Animal Health Gp - Trading Update

ECO Animal HealthAnnouncement

21/03/2024 07:00

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RNS Number : 7016H  Eco Animal Health Group PLC  21 March 2024

21 March 2024

 

 

 

 

ECO Animal Health Group plc

("ECO" or the "Company")

 

Trading Update

Trading in-line with market expectations

ECO Animal Health Group plc (AIM: EAH), a rapidly growing global animal health
company with a portfolio of marketed veterinary products and a maturing
proprietary R&D pipeline, today announces an update on trading and
business progress for the year ending 31 March 2024.

Strong trading from health products globally

Revenue for the fourth quarter and second half of the year ending 31 March
2024, was in line with expectations, driven by continued strong performance of
Aivlosin®, the Company's patented antimicrobial used under veterinary
prescription for the treatment of economically important respiratory and
gastrointestinal diseases in pigs and poultry.

Sustained demand continues in key territories despite economic headwinds
experienced by pig producers in certain countries.

The Board expects that revenue for the full year ending 31 March 2024, will be
in-line with market expectations(1). The Board intends to provide a trading
update towards the end of April commenting further on the margin and profit
performance for the full year ending 31 March 2024.

R&D - broad portfolio will drive value

ECO continues to invest in developing its R&D pipeline to create a new
growth engine, focusing in particular on its late stage Mycoplasma vaccines
for poultry and vaccines for swine. ECO recently announced that it had
received trademark approval for the ECOVAXXIN® family across the EU, USA and
the UK, providing brand protection for a range of vaccine products supporting
ECO's plan for multiple product launches and sales growth in key territories
expecting to start in 2025 and continuing over the next decade.

Governance - bolstering animal health experience

On 12 February 2024, ECO announced that it had strengthened its Board of
Directors with the appointment of Dr. Joachim Hasenmaier as a Non-Executive
Director. Dr Hasenmaier brings a wealth of experience, having spent more than
two decades in the international animal health industry, ultimately leading
one of the largest companies and will support the Company with strategic
oversight and governance.

David Hallas, Chief Executive Officer of ECO Animal Health Group plc,
commented: "I am pleased to be able to confirm that ECO is on track to meet
its full year revenue growth expectations.

"While supported by the growth of Aivlosin®, which continues to take market
share from more established products, the Company is making good headway
building an R&D engine by creating a pipeline of new vaccines and exciting
preventatives for the future and focusing the business on its competitive
strengths. While the economic environment requires vigilance, we remain
cautiously optimistic.

"Meanwhile, as approved at a General Meeting this week, the Company will begin
to purchase shares in the market. This has been facilitated by the use of some
of the proceeds from recent property disposals to purchase stock at an
attractive price.  The Board is confident in the shareholder value creation
story at ECO and excited about the Company's future prospects."

-Ends-

For further information please contact:

 ECO Animal Health Group plc                                    020 8447 8899

 David Hallas (CEO)

 Christopher Wilks (CFO)
 Singer Capital Markets (Nominated Adviser & Joint Broker)      020 7496 3000

 Phil Davies

 Sam Butcher
 Investec (Joint Broker)                                        020 7597 5970

 Gary Clarence

 Lydia Zychowska
 Equity Development                                             020 7065 2692

 Hannah Crowe

 Matt Evans
 ICR Consilium (Financial PR)                                   020 3709 5700

 Mary-Jane Elliott                                              ecoanimalhealth@consilium-comms.com

 Jessica Hodgson

About ECO Animal Health

ECO Animal Health is a world leader in animal health, developing and marketing
branded veterinary pharmaceuticals globally, with expertise in antibiotics and
vaccines for pigs and poultry. We have a maturing proprietary R&D
pipeline.

Headquartered in the UK, with global offices including R&D and
manufacturing, we have marketing authorisations in over 70 countries and
employ over 200 people worldwide.

Our lead product, Aivlosin® is a proprietary, patented medication which is
effective against both respiratory and intestinal diseases in pigs and
poultry.

Click here for more information: https://ecoanimalhealth.com
(https://ecoanimalhealth.com)

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