[VETOQUINOL] H1 2019 RESULTS

Combination of one-off factors › Numerous projects launched by the Vetoquinol Group… • Streamlining of product ranges in North America and Australia • Acquisition of Clarion in Brazil • Marketing and commercial investments in FarmVet Systems • Promotion of Essentials and launch of new products • Relaunch of the injectables production line at the Lure site (France) › … negatively impacting EBIT in the first half of 2019 2019 H1 Results 6