Marc Loomes, CEO of ECO Animal Health Group plc, commented: “These are credible results for a year that was adversely depressed by both ASF and a trade war between the USA and China, our two largest markets. We are confident that our accelerated development programmes in vaccines and other products will add long term growth. For the year ahead we expect to report continued growth and to perform in line with the Board’s expectations.”
HIGHLIGHTS
Financials
- Sales 11% higher at £74.6m (2018: £67.2m)
- Adjusted EBITDA higher at £20.1m (2018: £19.6m)
- Profit before taxation 10% higher at £15.2m (2018: £13.9m)
- Profit after taxation 16% higher at £13.6m (2018: £11.6m)
- Earnings per share 24% higher at 17.60p (2018: 14.19p)
- Dividend 20% higher at 11.04p (2018: 9.2p)
- Special dividend of 3.5p paid in January 2019
- Strong cash generation from operations of £13.3m (2018: £15.8m)
- Net cash lower at £18.1m (2018: £21.3m)
Operations
- Demand for Aivlosin® continued to grow strongly, with new marketing authorisations gained in Europe, Vietnam and India.
- Revenue in China flat despite challenging market conditions triggered by the African Swine Fever (ASF) outbreak.
- Strong sales growth in the other strategically important markets; North America, Latin America, Thailand and India.
- Five new vaccine and product development licensing agreements signed for pigs and poultry.
- Accelerated investment in vaccine development programme and people to drive future growth.
