Global animal health company Vetoquinol has released strong first quarter figures on the back of trading during the covid-19 crisis.
The company, which supplies veterinary drugs and non-medicinal products for livestock and pets, such as Drontal wormers, saw total group sales rise to €103.4 million, up 13.4% at constant exchange rates. What it classed as ‘essential sales’ were up 17.9%.
As an independent company, Vetoquinol designs, develops and sells its products across Europe, the Americas and the Asia Pacific region, pursing a strategy that ‘combines innovation with geographical diversification’.
The group’s hybrid growth was driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets.
Vetoquinol CEO Matthieu Frechin said: “The current worldwide health crisis is an exceptional and unprecedented situation from all points of view.
“After a strong first quarter driven by the measures we adopted to ensure continued supply of our drugs to the market, we expect sales to fall in the second quarter, especially in the companion animal segment. Meanwhile, our teams will continue to prepare to integrate the Drontal® and Profender® product ranges in the second half of 2020.
“Throughout this crisis, our laboratory has remained operational so that we can continue to fulfil our public health duty by providing care for livestock and pets. As far as resources permit, we have managed to provide masks, overalls and hydroalcoholic gel to medical establishments located near our production facilities.
“This continuity of care embodies the contribution made by our company to face the challenges of the covid-19 pandemic.”
At December 31 2019 Vetoquinol employed 2,372 people. It has been listed on Euronext Paris since 2006 (symbol: VETO).