Virbac slips, FY results in line with expectations

Virbac SA

20/03/2024 09:55

** Shares in Virbac drop 3% to 328 euros, after the French
veterinarian pharmaceutical firm announces FY results in line
with the group's forecast
    ** "Virbac should benefit from the gradual normalisation of
volumes leading to a growing market and normalised vaccine
production allowing better absorption of fixed costs," says
Midcap Partners
    ** Expect to see revenue growth of 11.5% this year - Midcap
Partners
    ** Virbac's recent acquisition of Sasaeah will slow
short-term growth, and profitability increase will depend on
volume consolidation, production streamlining and reducing R&D
costs (8.5% of revenue in 2024), says the broker
    ** Midcap Partners sees 18% growth by 2030, short of
Virbac's 20% guidance.
    ** Including today's fall the stock has dropped by 8.5% YTD​

 (Reporting by Dimitri Rhodes)
 ((Dimitri.Rhodes@thomsonreuters.com))