2021 Annual report

OUR PURPOSE: A COURSE FOR THE FUTURE!

An exceptional year to continue shaping the future all together.

SÉBASTIEN HURON,
CHIEF EXECUTIVE OFFICER, VIRBAC GROUP

SALES SPLIT BY GEOGRAPHICAL AREA
A year of records!
A year of records!
HABIB RAMDANI,
chief financial officer
Group

Was 2021 a special year for Virbac?
Yes, it was. For the first time in our history, we passed the one billion euro mark in sales. Thanks to our excellent commercial performance, in a very dynamic animal health sector, our growth amounted to more than 18% at constant exchange rates and scope. But beyond this symbolic achievement, we have seen remarkable performance consistently across the world. 

What does that mean?
With the exception of Chile, all the subsidiaries in our top 20 achieved growth rates of more than 8%, and more than half of them grew by more than 15%. These figures reflect the commitment of our teams in all the regions where we operate. 

And what about external growth?
2021 marked a return to intense business development activity. At the beginning of the year, we acquired Clomicalm and Itrafungol from Elanco, two products that complement our specialties portfolio. We also finalized the acquisition of the remaining 49% of our Chilean subsidiary Centrovet and bought iVet LLC in the United States, a company specializing in petfood distribution. The aim: to acquire logistics and e-commerce skills in order to accelerate preparations for the launch in the United States of our own petfood range early 2022.

Other highlights?
Our profitability is also up sharply, with a jump of more than two points compared to 2020. This spectacular change is of course due to our sales growth, but also to an improvement in our margin and very good control of our costs, despite, on the one hand, a rebound in our expenses linked to the Covid crisis and, on the other, the sale of our Sentinel parasiticides for dogs marketed in the United States. Finally, we have clearly exceeded the equally symbolic threshold of 15% for the ratio of adjusted operating profit to sales, to reach 16.3%, a historic level.

What about the outlook for 2022?
With a sector that was considered essential and very buoyant in 2021, the unfailing commitment of our teams and a very favorable financial situation, we are looking forward to 2022 with serenity and the same determination to improve the health and well-being of animals. 

Key figures

(in € million)

at constant exchange rates and scope (in %)

(in € million)
*restated: IFRIC decision (SaaS mode)

(in € million)
*restated: IFRIC decision (SaaS mode)

(in € million)
*restated: IFRIC decision (SaaS mode)

(in € million)
*restated: IFRIC decision (SaaS mode)

(in € million)
*restated: IFRIC decision (SaaS mode)

(in € million)
*restated: IFRIC decision (SaaS mode)

Havrileck_Bertrand-1.jpgEXPLORING NEW HORIZONS TO BETTER MEET THE NEEDS OF CAREGIVERS

At Virbac, we have always geared our R&D teams' efforts toward applied research and development, with one single objective: to encourage practical innovation in the service of veterinary medicine. Read more

BERTRAND HAVRILECK,
head of Corporate R&D Biologicals & Pharmaceuticals

Aquaculture in warm waters

Opening of our first dedicated R&D center in Vietnam

Read more

Treatment of diabetes

A partnership for a new technology for companion animals

Read more

Development of vaccines

Collaboration with the leader in antigen and adjuvant manufacturing technologies

Read more

Bistuer_Marc-1.jpgINDUSTRIAL TRANSFORMATION:
EVEN MORE PERFORMANCE AND AGILITY

Making our health solutions increasingly accessible to caregivers around the world thanks to a reliable and efficient industrial tool: this is what we believe is the essence of working for animal health. Read more

MARC BISTUER,
head of Global Industrial Operations & Corporate Quality Assurance

Eco-responsible packaging

Installation of two new packaging lines for our petfood

Read more

Biology

Transformation of our main site to meet the growing needs in vaccine prevention

Read more

Eco-design

An eco-responsible approach to supplies and flows

Read more

Pollet_Nathalie-1.jpgCLOSEST TO THOSE WHO TAKE CARE OF ANIMALS EVERY DAY

At Virbac, we know how essential the personal relationship connecting us with veterinarians, farmers and animal owners around the world is, to understand their expectations and respond to the major challenges of animal health. Read more

NATHALIE POLLET,
Global Marketing & Market Development director

Neutering of male dogs

An alternative to surgical castration to meet new societal expectations.

Read more

Farm animals

First steps on U.S. soil with an injectable solution and a partnership with Pharmgate

Read more

Takeover of assets

Obtaining the rights related to under development parasiticides as well as to two companion animal products

Read more

Cortella_Franscesca-1.jpgA UNIQUE HUMAN ADVENTURE IN THE SERVICE OF ANIMAL HEALTH

In a company where the quality of the relationship is paramount, we bring together women and men from different cultures and generations, all united by the same commitment to the health of animals. Read more

FRANCESCA CORTELLA,
head of Corporate Human Resources

Great Place To Work

Strong progress in results and an exceptional level of employee engagement

Read more

Business ethics

Provision of a new Group platform for whistleblowing

Read more

Safety at work

Multiple actions with a specific focus on awareness and prevention

Read more

Sustainable development

Company culture, economic and social responsibility, citizenship, environment: for more than 50 years, Virbac has been taking a long-term view.

Financial reports

Quarterly information, half-yearly and annual reports…