Brief: Virbac FY Consolidated Net Income Rises 4.9% At EUR 121.3 Mln

Virbac SA

23/03/2023 17:06

March 23 (Reuters) - Virbac SA  VIRB.PA :
    * VIRBAC: 2022 CURRENT OPERATING INCOME ON RISE AT +8.3%,
REFLECTING MOMENTUM OF OUR BUSINESS OVER YEAR IN A SLOWING
MARKET
    * FY CONSOLIDATED NET INCOME WAS €121.3 MILLION, UP 4.9%
COMPARED
TO THE SAME PERIOD FOR 2021
    * IN 2023, WE EXPECT A RATIO OF "CURRENT OPERATING INCOME
BEFORE
DEPRECIATION OF ASSETS RESULTING FROM ACQUISITIONS" TO "REVENUE"
THAT SHOULD BE BETWEEN 13% AND 14% AT CONSTANT EXCHANGE RATES,
WITH GROWTH IN REVENUE AT CONSTANT RATES AND SCOPE ESTIMATED AT
THIS STAGE TO BE BETWEEN 4% AND 6%
    * OUTLOOK 2023: THIS DETERIORATION IN OUR ADJUSTED EBIT
RATIO IS
PRIMARILY RESULT OF OUR DELIBERATE ACCELERATION IN RESEARCH AND
DEVELOPMENT INVESTMENT TO REVENUE SINCE EARLY 2022, AND EXPECTED
EFFECTS OF INFLATION IN 2023
    * OUTLOOK: OUR CASH POSITION IS EXPECTED TO REMAIN CONSTANT
AT END
OF 2023 COMPARED TO END OF 2022, GIVEN EXPECTED INVESTMENTS OVER
PERIOD, ESTIMATED TO BE AROUND EUR 100 MILLION, FROM
ACCELERATION OF RESEARCH AND DEVELOPMENT, AND EXCLUDING ANY
ACQUISITIONS
    * AT NEXT GENERAL MEETING OF SHAREHOLDERS, A NET DIVIDEND OF
EUR
1.32 PER SHARE WILL BE RECOMMENDED FOR DISTRIBUTION FOR 2022
FISCAL YEAR, IN EVOLUTION COMPARED TO EUR 1.25 IN 2021
    * NET INCOME GROUP SHARE AMOUNTED TO EUR 122.0 MILLION IN
2022, AN
INCREASE COMPARED TO PREVIOUS YEAR (EUR 113.2 MILLION)
    * NET FINANCIAL CASH AMOUNTS TO EUR 79.4 MILLION AT END OF
DECEMBER 2022
    * REVENUE FOR THE YEAR OF EUR 1,216.2 MILLION, AN INCREASE
OF
+14.3% COMPARED TO 2021

Source text for Eikon:  ID:nGNE1SFCMj 
Further company coverage:  VIRB.PA 

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