Virbac

2020 first quarter revenue rose by +14.3% at comparable exchange rates, significantly impacted by anticipatory buying

2020 first quarter revenue rose by +14.3% at comparable exchange rates, significantly impacted by anticipatory buying

Key figures
Revenue 1st quarter 2020   €247.7 M	Total growth   +13.9%	Growth at  constant exchange rates   +14.3%	Growth at constant exchange rates and scope 1   +14.3% including  companion animals +18.4%  food producing animals +9.8%

¹ Growth at constant exchange rates and scope is the organic growth of sales, excluding the impact of exchange rate changes, by calculating the indicator for the financial year in question and that for the previous financial year on the basis of identical exchange rates (the exchange rate used is that in effect for the previous financial year), and excluding the impact of changes in scope, by calculating the indicator for the financial year in question on the basis of the scope of consolidation for the previous financial year.

Quarterly consolidated revenue

Virbac revenue in the first quarter was €247.7 million, with a sharp increase of +13.9% compared to the same period in 2019. At constant exchange rates, growth was at +14.3%, buoyed by Europe and the United States, with however a very positive effect related, on the one hand to anticipatory buying linked to Covid-19, and on the other hand to price increases in the United States. As described in the second part of the press release, we anticipate a slowdown in activity in the coming months.

All areas show growth compared to the same period last year. In the United States, first quarter activity showed a marked increase of +47.4% (+42.5% at constant exchange rates). It benefited from very large purchases by distributors of the Sentinel and Iverhart ranges, in anticipation of price increases applied in the first quarter of 2020. Ex-Virbac sales in the parasiticide and dermatology ranges are growing, driven by the launch of Easotic, whereas the other ranges were down compared to the same period in 2019, which had seen strong growth.