19 May. 2022 18:00
Total Group Sales: €521 million (up 21.9% as reported)
Annual Sale of Essential products: €296 million (up 34.0% as reported)
Matthieu Frechin, CEO of Vetoquinol, said:
« In a still uncertain sanitary environment, our business grew by 21.9%, outperforming the market in all our geographical areas. At the heart of our strategy, sales of Essential products increased by 34% on a reported basis. Their development was perfectly balanced between organic growth (+17%), which demonstrates our ability to develop the market share of our existing brands, and external growth with the contribution of the Drontal® and Profender® brands (+17%) acquired in 2020. This momentum illustrates the soundness of our hybrid growth strategy based on the development of our Essentials portfolio and targeted external growth operations; we are confident in the future and in the profitable growth prospects of our laboratory »
Vetoquinol laboratory recorded sales of €521 million for the year 2021, up 21.9% as reported and up 22.3% at constant exchange rates.
At the end of December 2021, sales of Essential products amounted to €296 million, up 33.3% at constant exchange rates. Essential products continued their growth momentum, driven by the ongoing development of the existing portfolio and by the contribution of Drontal® and Profender® products. Essential products accounted for 56.7% of the 2021 laboratory's sales (2020: 51.6%).
Sales of companion animal products amounted to €335 million and represented 64% of total Vetoquinol sales. They increased by 30.4% as reported and at constant exchange rates, benefiting from the contribution of Drontal® and Profender® products. Sales of production animal products amounted to €186 million, up 9.2% as reported and up 10.0% at constant exchange rates.
All strategic territories grew at constant exchange rates in 2021: +23.5% in Europe, +22.6% in the Americas and +18.0% in Asia/Pacific.
For the year 2021, the Group recorded a negative currency impact of €1 million (-0.3%), mainly due to the decrease of the Brazilian Real and the US Dollar.
In Q4 2021, the Vetoquinol Group recorded sales of €134 million, up 14.3% as reported and up 11.3% at constant exchange rates compared to the same period last year. All strategic territories grew, with sales up 7.2% as reported in Europe, 17.2% in the Americas and 33.1% in Asia/Pacific. Sales of Essential products continued to be strong with organic growth of 20.1%.
Covid-19 health situation as of January 20, 2022
The Vetoquinol laboratory continues to rigorously manage the health situation related to Covid-19 and works to guarantee the safety and health of its employees, while aiming to maintain industrial activity, the continuation of the Group's projects and the supply to its customers without interruption.
Vetoquinol's financial structure at December 31, 2021 remains solid and cash flow generation continued in the second half of 2021. The audit of Vetoquinol's accounts is in progress at the date of this release.