Group sales for the first nine months of 2020 amounted to €310.6 million, up 9.4% as reported and up 11.5% at constant exchange rates.
Nine-month sales of Essentials products, the driving force behind Vetoquinol’s strategy, totaled €157.7 million, up 16.2% at constant exchange rates. Essentials products accounted for 50.8% of Vetoquinol sales for the first nine months of 2020, up from 48.2% during the same period in 2019.
Sales of companion animal products came to €184.5 million, up 13.2% at constant exchange rates. Sales of livestock products came to €126.2 million, up 9.2% at constant exchange rates.
All Group territories posted growth over the first nine months: 8.8% in Europe, 10.0% in the Americas and 22.6% in Asia Pacific at constant exchange rates.
COVID-19 pandemic, October 15, 2020 update
1- Vetoquinol continues to guarantee the health and safety of its employees by scrupulously observing preventive measures and social distancing. The Group continues to apply the measures introduced in accordance with World Health Organization directives and government measures imposed in countries where it operates.
2- For the time being, the Group’s business activities are broadly continuing with a limited impact on manufacturing and research operations.
3- The Group has kept its crisis unit up and running in order to ensure flexibility and responsiveness in the face of the pandemic.
Vetoquinol CEO Matthieu Frechin said: “I am proud of the work done by our teams during the first nine months of 2020. Despite the adverse impact of this exceptional and unprecedented health crisis, we have succeeded in continuing the roll-out of our strategic plan, underpinned by the strength of our Essentials product portfolio, acquisitions, expense-management initiatives and the unflagging commitment shown by our employees. The acquisition of the Profender® and Drontal® products has enabled us to reach a major milestone in the execution of our strategy, with their initial integration into our Essentials portfolio going ahead according to plan. We are all working together to achieve our growth ambitions for 2020 and the forthcoming period.”
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