Brief: Virbac H1 Current Operating Profit Up At Eur 115.5 Million

Virbac SA

15/09/2022 16:52

Sept 15 (Reuters) - Virbac SA  VIRB.PA :
    * INCREASE IN OPERATING INCOME IN FIRST HALF OF 2022
REFLECTING
DYNAMISM OF OUR BUSINESS
    * H1 REVENUE EUR 616.4 MILLION VERSUS EUR 529.4 MILLION YEAR
AGO
    * END-JUNE NET INCOME - GROUP SHARE AMOUNTED TO EUR 77.5
MILLION,
I.E. AN INCREASE OF 7.7% COMPARED TO FIRST HALF OF PREVIOUS YEAR
(EUR 72 MILLION)
    * REVENUE GROWTH AT CONSTANT EXCHANGE RATES AND SCOPE IS
STILL
EXPECTED TO BE IN RANGE OF 5% TO 10% AND WILL BE REFINED WHEN Q3
REVENUES ARE PUBLISHED
    * RATIO OF "CURRENT OPERATING INCOME BEFORE DEPRECIATION OF
ASSETS
FROM ACQUISITIONS" TO "REVENUE" SHOULD CONSOLIDATE AT 15% AT
CONSTANT EXCHANGE RATES, DESPITE IMPACTS FROM INFLATION
    * OUR DEBT RELIEF SHOULD BE AROUND EUR 30 MILLION EXCLUDING
DIVIDENDS, AT CONSTANT SCOPE AND EXCHANGE RATES
    * H1 CURRENT OPERATING PROFIT EUR 115.5 MILLION VERSUS EUR
102.2
MILLION YEAR AGO
    * INCREASE IN OUR WORKING CAPITAL REQUIREMENTS DUE TO GROWTH
IN
OUR ACTIVITY, INFLATION, AND MANAGEMENT DECISIONS (SAFETY STOCK,
FOR EXAMPLE) HAS LED US TO ADJUST OUR DEBT REDUCTION FORECASTS
FOR 2022 DOWNWARDS

Source text for Eikon:  ID:nGNE8BW461 
Further company coverage:  VIRB.PA 

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