Brief: Virbac Q4 Revenue Up At EUR 294.9 Mln

Virbac SA

18/01/2023 16:58

Jan 18 (Reuters) - Virbac SA  VIRB.PA :
    * REG-VIRBAC: ANNUAL REVENUE GROWTH OF +9.6% AT COMPARABLE
EXCHANGE RATES AND SCOPE (+14.3% AT REAL RATES), DRIVEN BY
EXCEPTIONAL BUSINESS ACTIVITY IN Q4
    * OUTLOOK: EXCEPTIONAL PERFORMANCE OF LAST QUARTER, WHICH
WAS
UNEXPECTED IN A MARKET EXPERIENCING A SHARP DOWNTURN, ALLOWS US
TO SLIGHTLY EXCEED TOP OF OUR REVENUE RANGE IN 2022
    * ANNUAL REVENUE 2022 EUR 1,216 .1M GROWTH AT CONSTANT
EXCHANGE
RATES AND SCOPE (1) +9.6%
    * OUTLOOK: WE NOW ANTICIPATE A RATIO OF "CURRENT OPERATING
INCOME
BEFORE DEPRECIATION OF ASSETS FROM ACQUISITIONS" TO "REVENUES"
THAT SHOULD BE AROUND 15% AT CONSTANT EXCHANGE RATES, AND OUR
DEBT RELIEF SHOULD BE AROUND EUR 35 MILLION EXCLUDING DIVIDENDS,
AT CONSTANT SCOPE AND EXCHANGE RATES
    * OUR REVENUE IN Q4 AMOUNTED TO EUR 294.9 MILLION, UP +19.7%
COMPARED TO SAME PERIOD IN 2021
    * OUTLOOK: FOR 2023, WE CAN CONFIRM A RATIO OF "CURRENT
OPERATING
INCOME BEFORE DEPRECIATION OF ASSETS FROM ACQUISITIONS" TO
"REVENUES" THAT SHOULD BE BETWEEN 13% AND 14% AT CONSTANT
EXCHANGE RATES, WITH GROWTH IN REVENUE AT CONSTANT RATES AND
SCOPE EXPECTED TO BE BETWEEN 4% AND 6%
    * OUR CASH POSITION IS EXPECTED TO REMAIN CONSTANT AT END OF
2023
COMPARED TO END OF 2022, TAKING INTO ACCOUNT CAPITAL EXPENDITURE
PLANNED OVER PERIOD, ESTIMATED AT AROUND 100 MILLION EUROS
    * OUTLOOK: THIS DETERIORATION IN OUR ADJUSTED EBIT RATIO IS
PRIMARILY RESULT OF OUR VOLUNTARY ACCELERATION OF RESEARCH AND
DEVELOPMENT INVESTMENTS TO REVENUE SINCE EARLY 2022

Source text for Eikon:  ID:nGNE7JBXdr 
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