Vetoquinol : H1 2020 sales and c.EBIT ahead of forecasts – Estimates revised upwards – TP lifted to € 70 vs € 64.5
>Q2 sales – H1 c.EBIT better than expected - Q2 sales fared well reaching € 92.7m (+1.9%), or H1 sales of € 196.1m (+6.7% and +7.5% lfl/impact of BRL). We were probably too cautious in our forecasts. Sales in the Household pets division (59% of total sales) were up 6.8% lfl, whereas livestock sales (42%) grew 8.5% lfl. C.EBIT before depreciation of the assets acquired in H1 surged to € 28m (+46%). Net cash at end June (before the acquisition for €/$140m of D...V?toquinol is a global player in the animal health sector, serving both the livestock (cattle and pigs) and pet (dogs and cats) markets. Co. designs, develops, and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia Pacific region, as an independent entity. Co. is also active in the therapeutic fields of anti-infectives, pain-inflammation and cardiology-nephrology treatment. As of Dec 31 2013, Co.'s product portfolio included brands such as Aurizon®, Epiphen®, Ipakitine®, Marbocyl®, Propalin®, Tolf?dine®, Tolfine®, Clavaseptin®, and Vetprofen®. Co.'s brands are V?toquinol, Tomlyn, and Evsco in the U.S.A. and Equistro for the horse range.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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