At its meeting on July 29, 2020, the Vetoquinol S.A. Board of Directors reviewed the Group results and approved the first half 2020 financial statements. The auditors have completed their audit of the financial statements and will shortly issue their report thereon.

Vetoquinol H1 2020 sales amounted to €196.1 million, up from €183.8 million in H1 2019, up 6.7% as reported and up 6.2% like-for-like. Changes in exchange rates had a negative impact of 0.8% on business in the first half, mainly due to the BRICS currencies and more specifically the sharp decline in the Brazilian real, partly offset by the US dollar.

Sales growth in the first half of 2020 was driven by Essentials products, which posted organic growth of 10.7%. Essentials products accounted for 50.6% of Vetoquinol’s sales in the first half of 2020, up from 49.4% in H1 2019. 

Sales of companion animal products came to €114.0 million and accounted for 58.1% of total Vetoquinol sales, up 6.8% at constant exchange rates. Sales of livestock products came to €82.1 million, up 8.5% at constant exchange rates. The purchase of Clarion Biociencias in Brazil on April 15, 2019 contributed €2.5m to H1 2020 growth. 

At constant exchange rates, all of the Vetoquinol Group’s strategic territories posted growth in the first half: the Americas recorded an increase of 6.5%, while growth of 4.6% in Europe was mainly driven by France and Spain. Asia-Pacific and export territories posted growth of 18.7%, driven by the launch of Essential Boarbetter® in China, offset by a decline in sales in India due to the challenges presented by the health crisis. 

The Vetoquinol Group posted Q2 2020 sales of €92.7m, stable compared to the reported figure Q2 2019, with organic growth of 1.9%. Europe and the Americas fell 3.3% and 9.5% respectively, as reported. Sales in Brazil and the US also declined in the second quarter, reflecting the impact of Covid-19. Asia-Pacific remains on an upward trajectory, posting solid growth of 31.7% driven by export markets and China.

The gross margin on purchases came to 72.2%, up 2.8 percentage points compared to H1 2019 (69.4%) due to an increase in production in the first half of 2020 compared to usual levels, and a favorable 2019 comparison reference. 

External expenses fell €2.5m, primarily due to a decrease in costs relating to Covid-19 (reduction in marketing and advertising costs, travel expenses, etc.). Personnel expenses rose 6.5% (€4m), due to a change in consolidation scope (creation of a subsidiary in New Zealand and acquisition of Clarion in Brazil), an increase in wages and the provision for profit-sharing and incentive schemes. 

EBIT before depreciation of acquired assets, a new Vetoquinol Group performance indicator, amounted to €28.0m in the first half of 2020, up from €19.2m in the same period in 2019, resulting in a 4 points increase.

Depreciation of acquired assets amounted to €3.7m, compared to €1.3m in H1 2019. H1 2020 depreciation includes a €2.2m depreciation charge as from April 15, 2019 on fixed assets, a consequence of the purchase price allocation of Clarion. 

Vetoquinol Group’s EBIT rose to €24.4m, up from €17.9m in H1 2019. 

In H1 2020, Vetoquinol recorded a net € 1.4m non-recurring expenses related to goodwill impairment of the FarmVet Systems CGU (€2.2m), partially offset by a reduction in liabilities owed to minority shareholders, (non-recurring income of €0.8m). 

The apparent tax rate was 33.8% (vs 27.6% in H1 2019) due to the negative effects recorded in the first half of 2020, primarily due to an adjustment on India tax carried forward losses, and a reversal of FarmVet Systems deferred tax assets as well as country mix effect. The increase of this tax rate combined with the growth of the EBIT before tax triggers an additional €2.7m income tax charge. 

Vetoquinol posted an €11.8m increase in EBITDA year-on-year in the first half at €38.0m, resulting from the increase in sales and gross margin, as well as a reduction in expenses during Covid-19. H1 2020 EBITDA expressed as a percentage of sales amounted to 19.4% versus 14.3% in H1 2019. 

After non-recurring expenses, Vetoquinol net income amounted to €15.1m, up from €13.0m in H1 2019. 

Total Group net cash stood at €91.3m at June 30, 2020. 

Vetoquinol is backed by a sound financial structure to further its growth strategy and has the funds to pursue its targets for acquisitions and development, as well as to face the impact of the Covid-19 health crisis. The Vetoquinol Group was free of financial debt as of June 30, 2020. 

The Group has ensured its staff stay healthy and safe, while delivering on its production, distribution and service commitments. The Vetoquinol Group has also introduced a number of measures as issued by the World Health Organization and governments in countries where it operates. 

The Group will continue to keep its stakeholders regularly informed of how Covid-19 developm ents impact its business. 

Acquisition of Profender® and Drontal®

The acquisition in Europe and the United Kingdom of these two de-wormers for cats and dogs is expected to be finalized on Monday August 3, following the acquisition of Bayer’s animal health division by Elanco Animal Health. 

Vetoquinol CEO Matthieu Frechin said: “The performances recorded in the first half of 2020 reflect the merits of our development strategy, which is based on a balance between our strategic territories and concentrating our efforts on our portfolio of Essentials products. Since the lockdown at the start of the year, our top priority has been to ensure the health and safety of our staff. Our teams are hard at work supporting our vet and breeder customers, ensuring that the most hygienic conditions possible are in place wherever we operate. This unprecedented health crisis has also highlighted the agility and flexibility of our laboratory. Our portfolio of Essentials products, solid financial structure and expert teams are what will ensure we overcome this challenging period. Finally, we are delighted to be finalizing the acquisition of Profender® and Drontal® next week, which is entirely in line with our strategy.” 

The analyst presentation is scheduled for Thursday, July 30, 2020 and its recording will be available on the Company’s website.

Latest news of vetoquinol

Privacy and Cookies Policy


Last update: 30 April, 2020
The Vetoquinol group and the companies within it (referred to collectively in this document as “the Group”, “we” or “our”) are committed to protecting your privacy and the confidentiality of your data and we take care to protect your personal data. Please read the following information carefully. It tells you about how we collect and use your personal information and the options available to you in connection with its use.

For the purposes of this privacy and cookies policy, (the “Privacy and Cookies Policy”), the data controller is Vetoquinol SA, a company registered on the Vesoul/Gray Trade and Companies Register under number 676 250 111 and which has its registered office at sis Magny-Vernois, 70200 Lure.

This privacy and Cookies Policy applies to the products and services offered by the Group (the “Products and Services”) on our website https://www.vetoquinol.com/ (hereafter called the "Website") and particularly:

This Privacy and Cookies Policy applies whether you are a “Visitor” (which means you are simply looking at the Products and Services) or a “User” (which means that you have registered with the Website).

The Privacy and Cookies Policy thus governs the use of the Website however you access it.

By accessing or using the Website and providing us with information via the Site, you accept this Privacy Protection and Cookies Policy. We recommend that you regularly check the Policy as we often update and modify it. 



Data that does not allow you to be identified  

You can visit our Website without sending us any information that can enable you to be identified, unless you decide to become a Website User, which requires registration.

Like the majority of online services, we automatically collect certain data and information about you and/or your computer each time you visit our Website, but this does not enable you to be identified. This information includes:

When you access, visit and/or use our Website we can, therefore, follow your visit and collect certain data about your use of the Products and Services and your activities on the Website, as described below in the “cookies” section.

Personal Data 

In certain cases, in particular when you register, contact us or request information, you may be asked to provide personal data, such as your surname, first name, email address and telephone number (“Personal Data”).

When you contact us or ask for information by email or post, we collect the Personal Data that you voluntarily decide to disclose to us.

However, if you do not wish to disclose your Personal Data, some of the services and/or options available on the Website and/or linked to our offer of Products and Services may be unavailable to you.

We also collect Personal Data when the Website allows you to register on “My Space” or “My Account”: you will be asked to disclose Personal Data such as your surname, first name, title, year of birth, email address, country of residence, name of the employer and telephone number. We may also obtain Personal Data via your internet browser, such as your IP Address, which is a number that is automatically assigned to your computer when you use the internet.

We may also obtain Personal Data about you from other sources. For example, we may ask a third party supplier or collector to provide us with additional Personal Data about our existing clients (adding data or “data appending”), particularly Personal Data collected from your profile or your publications on a third-party social network. We may also collect Personal Data from third-party co-sponsors with whom we work or if we buy out other companies.  

We may also collect Personal Data appearing on your profile for a third-party social network (particularly Facebook) if you authorise the third-party network to disclose this to us or if you put it on  line publicly. This Personal Data may be general data relating to your account (for example, name, email address, profile photo, gender, birthdate, current town/city, identifier, list of friends, etc.) and any other information or activity that you authorise the third-party social network to share with us or that you put on line publicly on your profile. We may, for example, receive all or party of your information relative to social networks when you download or interact with one of our applications on a social network site (notably Facebook). For more information on how we can obtain your information relating to social networks, please visit the Internet site of the third party social network concerned.



The Personal Data sent to the Website, either based on your consent (request for information or documentation) or based on a contract (contact form or registration on our Website to benefit from Products and Services). We may use the Personal Data you disclose to us via the Website particularly for the purposes of:



Personal Data used in connection with use of the Website

We store this Personal Data only for as long as is necessary for the purpose for which we process it and in any event for the period necessary to comply with a legal or regulatory requirement. 

Personal data used to send you information

Your Personal Data will be kept for as long as your subscription is live. You can bring this to an end at any time by unsubscribing, using the link shown. In any event, if you do not make contact for three years, your Personal Data will be erased.

Personal data used to send marketing offers

Your Personal Data will be kept for as long as you agree to receive our marketing offers. You can bring this to an end at any time by unsubscribing, using the link shown. In any event, if you do not make contact for three years, your Personal Data will be erased.

Personal Data used in connection with a commercial relationship

We store this Personal Data only for as long as is necessary for the purpose for which we process them, that is throughout our contractual relationship, and in any event for the period necessary to comply with a legal or regulatory requirement. 



Transfer outside the European Union

When the processing of your Personal data involves a transfer to third countries outside the European Union, the transfer is to countries listed by the European Commission as providing sufficient protection for data and/or is covered by appropriate guarantees based on standard contract clauses reflecting models published by the European Commission.

When sharing of Personal Data involves transfer to the United States, recipients will have Privacy Shield certification.

The Group’s companies

We may share your Personal Data with companies in the Group. For further information on the companies in the Group, please go to http://www.vetoquinol.com/fr/implantation/home.

Service Providers

As part of the conduct of our business, we may transfer your Personal Data to service providers. These service providers use your Personal Data only to enable us to supply you with Products and Services. As examples, these service providers may supply IT services, be our logistics or marketing partners, our website host, or support us in data management, email distribution or analysis of information. We disclose to our service providers only the Personal Data they need to provide their services and we work with them to ensure that your Personal Data are respected and protected.

We never disclose any personal Data to these companies for their own marketing or commercial needs. However, we may disclose your Personal Data to our commercial partners only in order to provide you with our Products and Services or other products and services which may be of interest to you.

Legal Obligations 

We may need to disclose Personal Data in response to a request from a regulatory authority, such as the tax authorities or CNIL (the French data protection authority), and/or a court (in response to a judgment, a court order or injunction) on request or if the law requires us to do so, or in order to protect our interests, our property and/or our security and/or those of a third party.

Unless otherwise provided in this Privacy and Cookies Policy or with your prior permission, we will not sell, market or lend Personal Data to other companies in the normal course of business. However, in the event of any restructuring of the group’s companies (acquisition, merger or partial transfer of assets) your Personal Data may be disclosed to another company, but the disclosure will then be subject to the Privacy and Cookies Policy in force.



We have a variety of security measures to prevent the loss, misappropriation or misuse of your Personal Data that you have provided on the Website. In order to guarantee the security of the data you disclose online during transmission, we use encryption, authentication, and flow analysis and we carry out security audits on the hosting environments.



A cookie is a text file placed on the device you are using to access the internet (computer, mobile phone, tablet etc.) when you use a browser to visit a website.

We place a unique identifier in the cookie and use the cookie to connect your computer to the information that we store in our database.

It contains data which allow you to be identified:

We use cookies to:

Cookies do not contain any Personal Data and do not allow access to your computer.

The validity deadline to consent to receive Cookies is 13 months. At the end of this period, we will again seek your consent.

When you first visit our Website, an information banner will be displayed at the foot of the page. By continuing to browse the Website after clicking on “I accept”, you expressly consent to the Group placing the cookies you have allowed on your computer (cookies linked to targeted advertising operations, certain audience measurement cookies and social media cookies, generated in particular by sharing buttons when they collect personal data). The banner will be displayed until you continue browsing, i.e. until you make a choice. If you do not wish to receive any or all cookies, we recommend you click on "Personalise" on the banner, and follow the detailed instructions enabling you to refuse all or part of them.

You can change your internet browser settings at any time to accept, configure or refuse cookies. You will be offered a number of options: to accept each cookies, be alerted when a cookie is placed, or refuse all cookies. You also have the possibility to reconsider your choice at any time during your browsing by clicking on the button at the bottom right of your screen.

Each internet browser offers different settings for the management of cookies. They are generally shown in the browser’s help menu. If you use a browser or version different to those listed, we suggest you use the browser’s “Help” menu. Firefox, Chrome, Internet Explorer, Safari and Opera.



The Group may offer links to the websites of other companies with which it has a relationship.

We may place “hyperlinks” to other websites and applications operated by third parties on our Website. The only purpose of these links is to make browsing easier for you and to provide you with the fullest possible information. We have no control over these websites and applications. They are separate from the Group and have their own privacy policies. Consequently, the Group cannot be held liable under any circumstances, in particular in relation to the accuracy, relevance, availability or reliability of information and products and services offered on these websites, their respect for copyright, via these third party websites and applications accessible from our Website. We encourage you to review the terms and conditions and privacy policies of any third party websites and applications before using them. You should note that our Confidentiality and Cookies Policy ceases to apply when you leave our Website.

Moreover, the Group is not responsible for hypertext links to its own Website which may be included in third party websites, even if the Group has authorised the third party publisher of the website to place such a link.

Finally, the Group generally prohibits anyone from placing a hyperlink to one or more pages of its Website without its express prior consent.  



If you no longer wish to receive emails from the Group informing you of events, new Products or Services, similar Products or Services, or containing other marketing communications, you only have to click on the “unsubscribe” link at the foot of every email. You will be routed directly to an unsubscribe page in which you can delete your subscription to emails.



You can log in to “My Space” or “My Account” when the Website allows you to do so. After you have logged in, you can change your profile and update your Personal Data. You are responsible for protecting your authentication data (particularly your identifiers and passwords). You also have the possibility to unsubscribe by deleting your account.



Under the legal and regulatory framework applicable to the protection of personal data and privacy, particularly the GDPR, current French legislation and the recommendations of any independent public authority established by a Member State of the European Union responsible for controlling this legal and regulatory framework, you have a right to access, rectify, object to or erase your Personal Data or limit its processing, and a right to its portability.

You also have a right to give instructions about what should be done with your Personal Data after your death.

You may write to the company Vetoquinol SA about this at any time, at the following address: Vetoquinol SA – DPO – Magny-Vernois, 70200 Lure, or by email to DPO@vetoquinol.com.

In the event of a complaint, you can choose to contact the CNIL.



If you have questions or doubts concerning this Privacy and Cookies Policy, you can contact us using the form available on our Website www.vetoquinol.com, or by sending us a letter addressed to Vetoquinol SA – DPO – Magny-Vernois, 70200 Lure. You can also write to our Data Protection Officer by email at DPO@vetoquinol.com.



This Privacy and Cookies Policy is governed by French law and, with effect from 25 May 2018, by the General Data Protection Regulation 2016/679 of 27 April 2016 (“GDPR”). Please note that this policy may change in the light of regulatory developments.