The company Virbac, a major player in the animal health economy based in the Nice Côte d’Azur Metropolis, has just celebrated three decades of presence in the Asia-Pacific region.
An opportunity to look back on the journey of two of its significant subsidiaries located in New Zealand and Japan.
The company also recently celebrated its 40th anniversary in Spain and announced in 2023 the creation of its subsidiary in Ireland, the acquisition of its distributor in the Czech Republic and Slovakia, and the appointment of André Mathieu and Manuela Rodriguez to leadership positions.
The economic success of Virbac in New Zealand
Last June, Virbac New Zealand celebrated its thirtieth anniversary. The company established its presence in New Zealand in 1993 with the acquisition of Techvet Laboratories, and later strengthened its position in 2012 by acquiring Stockguard. Virbac’s efforts to innovate and diversify its range of products for both companion and livestock animals have paid off, and the New Zealand subsidiary now enjoys a strong position in the local animal health market.
Virbac in Japan, a strong economic presence
As for Virbac’s Japanese subsidiary, it celebrated its thirtieth anniversary in May. Since entering the Japanese market in 1992, Virbac has managed to establish itself as a leader in the field of companion animal health, particularly in the areas of dermatology and dentistry. With a dedicated team of 49 individuals, Virbac Japan offers veterinarians a wide range of products and expert support for their daily practices.
Virbac: Consolidated revenue for the second quarter
In the second quarter of 2023, Virbac recorded a growth of 1.9% at constant exchange rates, reaching a revenue of 295.2 million euros. The growth in Europe and the Asia-Pacific region offset the slowdown in Latin America. Despite some challenges, such as temporary limitations in the production capacity of vaccines for dogs and cats and a cyberattack, the company has managed to maintain a strong performance.
For the first half of 2023, Virbac’s cumulative revenue is 609.9 million euros, slightly lower compared to the same period of the previous year. However, excluding the effects of currency exchange, the revenue remained stable at +0.2%.
In line with its statement on July 3, 2023, Virbac confirms its revised forecasts, with expected revenue growth at constant rates and scope within a range of 0% to 4%, and an adjusted EBIT* ratio projected to consolidate between 12% and 13% at constant exchange rates.
(*EBIT stands for Earnings Before Interest and Taxes)
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