Virbac : FY 2023 contributory underlying operating profit a tad above consensus – Prospects confirmed
>Contributory underlying operating profit at 15.1% vs guidance at “around 15%” - Contributory underlying operating profit at € 188.1m, i.e. +0.8% and 15.1% of revenues (15.3% cc.). Net profit was stable at € 121m (consensus: € 124m), hurt by a negative forex effect and higher interest rates (higher than expected for us). At end-2023, net cash stood at € 52m (i.e. after a € 20m share buyback programme and the acquisition of GS Partners and Globion and excluding the pur...Virbac is an independent veterinary pharmaceutical laboratory. Co. develops and provides veterinarians and farmers with medicines and vaccines that improve the health of food producing animals. Co. markets a range of products designed for pets and livestock. It offers seven types of products for companion animals (Parasiticides, Immunology, Antibiotics/dermatology, Specialties, Equine, Specialized pet food and Other products), and four types of products for food producing animals (Bovine parasiticides, Bovine products (excluding parasiticides), Pig/poultry antibiotics and Other products). Co. markets its products in the ethical (veterinarian) and OTC markets.
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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