Upcoming Dividend • Jun 25
Upcoming dividend of €1.45 per share Eligible shareholders must have bought the stock before 02 July 2026. Payment date: 06 July 2026. Payout ratio is a comfortable 8.0% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (2.6%). Declared Dividend • May 31
Dividend of €1.45 announced Dividend of €1.45 is the same as last year. Ex-date: 2nd July 2026 Payment date: 6th July 2026 Dividend yield will be 0.4%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 13%. Announcement • May 26
Virbac SA, Annual General Meeting, Jun 29, 2026 Virbac SA, Annual General Meeting, Jun 29, 2026. Location: 13e rue lid, carros France Reported Earnings • Apr 30
Full year 2025 earnings released Full year 2025 results: Revenue: €1.46b (up 4.8% from FY 2024). Net income: €150.9m (up 3.9% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue is forecast to grow 5.2% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Pharmaceuticals industry in the United Kingdom. Reported Earnings • Mar 18
Full year 2025 earnings released Full year 2025 results: Revenue: €1.46b (up 4.8% from FY 2024). Net income: €150.9m (up 3.9% from FY 2024). Profit margin: 10% (in line with FY 2024). Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Pharmaceuticals industry in the United Kingdom. Announcement • Mar 18
Virbac Sa Proposes Dividend for the Fiscal Year 2025 Virbac SA announced at the next shareholders' meeting, a net dividend per share of €1.45 will be recommended for distribution for the 2025 fiscal year. Announcement • Jan 20
Virbac SA Provides Earnings Guidance for the Year 2026 Virbac SA provided earnings guidance for the year 2026. 2026 guidance: (incl. Thyronorm acquisition impact): revenue growth expected to be between 5.5% and 7.5% at constant rates and scope. Announcement • Dec 17
Virbac SA (ENXTPA:VIRP) acquired Thyronorm from Norbrook Laboratories Limited in a transaction valued at €100 million. Virbac SA (ENXTPA:VIRP) acquired Thyronorm from Norbrook Laboratories Limited in a transaction valued at €100 million on December 16, 2025. The transaction is expected to be accretive to Virbac Group sales growth and EBITDA margin from year 1. Virbac will ensure the direct distribution of this treatment under the Thyronorm brand in the United Kingdom, Australia, and New Zealand, and under the Felanorm brand in the United States. In Europe, distribution will continue to be managed by Boehringer Ingelheim and Elanco (in Germany) before being gradually taken over by Virbac.
Thyronorm has in-market sales of approximately €27 million.
Virbac SA (ENXTPA:VIRP) completed the acquisition of Thyronorm from Norbrook Laboratories Limited on December 16, 2025. Announcement • Dec 08
Virbac SA to Report First Half, 2026 Results on Sep 17, 2026 Virbac SA announced that they will report first half, 2026 results on Sep 17, 2026 Announcement • Oct 17
Virbac SA Updates Revenue Guidance for the Year 2025 Virbac SA updated revenue guidance for the year 2025. For the year, the company expects sales momentum observed in the third quarter, revenue growth at constant exchange rates and scope is now expected to be between 5.5% and 7.5% (against 4 to 6% before). Reported Earnings • Sep 15
First half 2025 earnings released First half 2025 results: Revenue: €738.3m (up 5.0% from 1H 2024). Net income: €82.4m (down 13% from 1H 2024). Profit margin: 11% (down from 14% in 1H 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Announcement • Sep 13
Virbac Sa Confirms Earnings Guidance for the Year 2025 Virbac SA confirmed earnings guidance for the year 2025. For the year, the company confirms outlook for revenue growth at constant rates and scope of between 4% and 6%. The impact of the Sasaeah acquisition is expected to represent 1 point of additional growth in 2025. Announcement • Jun 21
Virbac SA Appoints Paul Martingell as Chief Executive Officer, Effective September 1, 2025 Virbac SA announced the appointment of Paul Martingell as the chief executive officer of the Virbac group, effective September 1, 2025. Paul Martingell, 45, is recognized as a leader who has demonstrated his ability to engage and inspire international teams, manage complexity, and create value for all stakeholders. He holds an MBA with distinction in Mergers and Acquisitions and is a Chartered Accountant in the United Kingdom. He has over 25
years of extensive international experience, particularly in consumer health, consumer goods, and pharmaceuticals. His professional journey is marked by roles of increasing responsibility in Europe, Asia, and Latin America, first at Ernst & Young, then at Reckitt Benckiser and Novartis Consumer Healthcare. For the past eleven years, he has been part of the executive committee that oversaw the merger of Boehringer Ingelheim's and Sanofi's
Consumer Healthcare businesses. During this time, he led key regions and served as chief growth officer. For the last three years, he has held the position of senior vice president, region head for Europe and Latin America, a region generating close to 3 billion euros in revenue. He was also part of the leadership team that successfully completed the spin-off of Opella. Paul is a recognized leader for his ability to develop diverse and agile teams, lead growth and learning-oriented cultures. He has proven his ability in building collective visions and leading successful transformations in operational roles, to deliver superior performance. Upcoming Dividend • Jun 17
Upcoming dividend of €1.45 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 26 June 2025. Payout ratio is a comfortable 8.4% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of British dividend payers (5.6%). Lower than average of industry peers (2.5%). Declared Dividend • May 19
Dividend increased to €1.45 Dividend of €1.45 is 9.8% higher than last year. Ex-date: 24th June 2025 Payment date: 26th June 2025 Dividend yield will be 0.5%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 10%. Announcement • May 13
Virbac SA, Annual General Meeting, Jun 19, 2025 Virbac SA, Annual General Meeting, Jun 19, 2025. Location: 13e rue lid, carros France Reported Earnings • Apr 30
Full year 2024 earnings released: EPS: €17.35 (vs €14.40 in FY 2023) Full year 2024 results: EPS: €17.35 (up from €14.40 in FY 2023). Revenue: €1.40b (up 12% from FY 2023). Net income: €145.3m (up 20% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 16
Full year 2024 earnings released: EPS: €17.35 (vs €14.40 in FY 2023) Full year 2024 results: EPS: €17.35 (up from €14.40 in FY 2023). Revenue: €1.40b (up 12% from FY 2023). Net income: €145.3m (up 20% from FY 2023). Profit margin: 10% (in line with FY 2023). Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • Jan 17
Virbac SA Provides Revenue Guidance for the Year 2025 Virbac SA provided revenue guidance for the year 2025. For the year 2024, the company currently anticipate revenue growth at constant scope and exchange rates between 4% and 6%. Announcement • Dec 04
Virbac SA (ENXTPA:VIRP) acquired Mopsan Veteriner Urunleri A.S. Virbac SA (ENXTPA:VIRP) acquired Mopsan Veteriner Urunleri A.S. on December 2, 2024.
Virbac SA (ENXTPA:VIRP) completed the acquisition of Mopsan Veteriner Urunleri A.S. on December 2, 2024. Announcement • Jul 17
Virbac SA Revises Earnings Guidance for the Fiscal Year 2024 Virbac SA revised earnings guidance for the fiscal year 2024. For the year, The company anticipates revenue growth between 7% and 9%. Announcement • Jul 08
Virbac Sa Announces Chief Executive Officer Changes Virbac SA announces the resignation of Sébastien Huron from his position as chief executive officer. He will leave the Virbac Group's executive management by September 30, 2024, to take a break from his professional life.The board of directors has decided to appoint Habib Ramdani, currently chief financial officer and deputy chief executive officer, as interim CEO, to replace Sébastien Huron, while the appointments and compensation committee recruits the next chief executive officer. Backed by the board of directors, Habib will be able to count on the full support of the Group executive committee in executing the roadmap of our Virbac 2030 project. About Habib Ramdani: Habib Ramdani is a graduate of the École Centrale de Paris. He started his career in 1999 as a strategy consultant at the Boston Consulting Group (BCG). He joined the pharmaceutical company Ipsen in 2002 where he quickly became Group Strategic Planning director. He was then appointed Group Controller and oversaw the Group's Management Control department as well as Ipsen's Group Financial Accounting and Consolidation department before taking over the Finance and Strategy department of the North American subsidiaries while based in New Jersey, USA. He joined the Virbac Group in 2016 as chief financial officer and member of the executive board, before being appointed deputy chief executive officer and member of the Group executive committee on December 15, 2020. Upcoming Dividend • Jun 19
Upcoming dividend of €1.32 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (2.2%). Upcoming Dividend • Jun 19
Upcoming dividend of €1.32 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (2.2%). Upcoming Dividend • Jun 18
Upcoming dividend of €1.32 per share Eligible shareholders must have bought the stock before 25 June 2024. Payment date: 27 June 2024. Payout ratio is a comfortable 9.2% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (5.7%). Lower than average of industry peers (2.2%). Declared Dividend • May 27
Dividend of €1.32 announced Dividend of €1.32 is the same as last year. Ex-date: 25th June 2024 Payment date: 27th June 2024 Dividend yield will be 0.4%, which is lower than the industry average of 2.4%. Payout Ratios Payout ratio: 9%. Cash payout ratio: 19%. Reported Earnings • Apr 28
Full year 2023 earnings released: EPS: €14.40 (vs €14.43 in FY 2022) Full year 2023 results: EPS: €14.40 (down from €14.43 in FY 2022). Revenue: €1.25b (up 2.5% from FY 2022). Net income: €121.3m (flat on FY 2022). Profit margin: 9.7% (in line with FY 2022). Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Apr 03
Virbac SA (ENXTPA:VIRP) acquired Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591). Virbac SA (ENXTPA:VIRP) entered into a definitive agreement to acquire Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) for an enterprise value of approximately €280 million on March 6, 2024. The annual revenues of Sasaea Holdings Co., Ltd. were about €75 million. The transaction is expected to close by the beginning of April 2024. Nomura acted as financial advisor to Virbac in this transaction and Hogan Lovells acted as its legal advisor.
Virbac SA (ENXTPA:VIRP) completed the acquisition of Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) on April 1, 2024. Reported Earnings • Mar 20
Full year 2023 earnings released: EPS: €14.40 (vs €14.44 in FY 2022) Full year 2023 results: EPS: €14.40 (down from €14.44 in FY 2022). Revenue: €1.25b (up 2.5% from FY 2022). Net income: €121.3m (flat on FY 2022). Profit margin: 9.7% (in line with FY 2022). Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Announcement • Mar 08
Virbac SA (ENXTPA:VIRP) entered into a definitive agreement to acquire Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) for an enterprise value of approximately €280 million. Virbac SA (ENXTPA:VIRP) entered into a definitive agreement to acquire Sasaea Holdings Co., Ltd. from ORIX Corporation (TSE:8591) for an enterprise value of approximately €280 million on March 6, 2024. The annual revenues of Sasaea Holdings Co., Ltd. were about €75 million. The transaction is expected to close by the beginning of April 2024. Nomura acted as financial advisor to Virbac in this transaction and Hogan Lovells acted as its legal advisor. Announcement • Jan 18
Virbac SA Provides Earnings Guidance for the Year 2024 Virbac SA provided earnings guidance for the year 2024. For the year 2024, the company confirm a revenue growth target between 4% and 6% at constant rates and scope, as well as a ratio of "current operating income before amortisation of assets resulting from acquisitions” to “revenue” around 15% at constant exchange rates. As announced in previous communications, this level of profitability takes into account a deliberate further acceleration in R&D investments, representing almost +0.5 points as a percentage of revenue compared with 2023. Buying Opportunity • Jan 18
Now 20% undervalued Over the last 90 days, the stock is up 31%. The fair value is estimated to be €427, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10% over the last 3 years, while earnings per share has been flat. For the next 3 years, revenue is forecast to grow by 4.6% per annum. Earnings is also forecast to grow by 8.9% per annum over the same time period. Valuation Update With 7 Day Price Move • Dec 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €355, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 12x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders of 49% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €427 per share. Reported Earnings • Oct 09
First half 2023 earnings released: EPS: €8.86 (vs €9.18 in 1H 2022) First half 2023 results: EPS: €8.86 (down from €9.18 in 1H 2022). Revenue: €610.5m (down 1.0% from 1H 2022). Net income: €74.8m (down 3.6% from 1H 2022). Profit margin: 12% (in line with 1H 2022). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 29
Virbac SA Confirms Revenue Forecasts for the Year 2023 Virbac SA confirmed revised revenue forecasts for the year 2023. The company confirms revised forecasts with revenue growth at constant rates and scope expected in a range between 0% and 4%. Upcoming Dividend • Jun 19
Upcoming dividend of €1.32 per share at 0.5% yield Eligible shareholders must have bought the stock before 26 June 2023. Payment date: 28 June 2023. Payout ratio is a comfortable 9.1% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of British dividend payers (5.9%). Lower than average of industry peers (2.5%). Reported Earnings • Mar 24
Full year 2022 earnings released: EPS: €14.44 (vs €13.40 in FY 2021) Full year 2022 results: EPS: €14.44 (up from €13.40 in FY 2021). Revenue: €1.22b (up 14% from FY 2021). Net income: €122.0m (up 7.8% from FY 2021). Profit margin: 10.0% (in line with FY 2021). Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Dec 15
Virbac SA to Report First Half, 2023 Results on Sep 14, 2023 Virbac SA announced that they will report first half, 2023 results on Sep 14, 2023 Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €246, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 11x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders of 16% over the past three years. Reported Earnings • Sep 18
First half 2022 earnings released: EPS: €9.18 (vs €8.54 in 1H 2021) First half 2022 results: EPS: €9.18 (up from €8.54 in 1H 2021). Revenue: €616.4m (up 16% from 1H 2021). Net income: €77.5m (up 7.7% from 1H 2021). Profit margin: 13% (down from 14% in 1H 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 6.8% growth forecast for the Pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 16
Investor sentiment deteriorated over the past week After last week's 18% share price decline to €289, the stock trades at a forward P/E ratio of 23x. Average forward P/E is 13x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders of 47% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €557 per share. Upcoming Dividend • Jun 17
Upcoming dividend of €1.25 per share Eligible shareholders must have bought the stock before 24 June 2022. Payment date: 28 June 2022. Payout ratio is a comfortable 9.3% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of British dividend payers (5.0%). Lower than average of industry peers (3.0%). Reported Earnings • May 02
Full year 2021 earnings released: EPS: €13.40 (vs €16.13 in FY 2020) Full year 2021 results: EPS: €13.40 (down from €16.13 in FY 2020). Revenue: €1.06b (up 14% from FY 2020). Net income: €113.2m (down 17% from FY 2020). Profit margin: 11% (down from 15% in FY 2020). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 8.9%, compared to a 5.3% growth forecast for the pharmaceuticals industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 17
Upcoming dividend of €0.75 per share Eligible shareholders must have bought the stock before 23 June 2021. Payment date: 25 June 2021. Trailing yield: 0.3%. Lower than top quartile of British dividend payers (4.0%). Lower than average of industry peers (3.6%). Valuation Update With 7 Day Price Move • Apr 17
Investor sentiment improved over the past week After last week's 23% share price gain to €275, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 24x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders of 117% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €373 per share. Reported Earnings • Mar 19
Full year 2020 earnings released: EPS €16.29 (vs €6.11 in FY 2019) The company reported a decent full year result with improved earnings and profit margins, although revenues were flat. Full year 2020 results: Revenue: €934.2m (flat on FY 2019). Net income: €137.5m (up 167% from FY 2019). Profit margin: 15% (up from 5.5% in FY 2019). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 26
New 90-day low: €202 The company is down 7.0% from its price of €216 on 27 November 2020. The British market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Pharmaceuticals industry, which is down 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €206 per share. Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €205, the stock is trading at a trailing P/E ratio of 23.9x, down from the previous P/E ratio of 28.4x. This compares to an average P/E of 19x in the Pharmaceuticals industry in the United Kingdom. Total returns to shareholders over the past three years are 73%. Is New 90 Day High Low • Jan 04
New 90-day high: €244 The company is up 18% from its price of €206 on 06 October 2020. The British market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €229 per share. Is New 90 Day High Low • Dec 14
New 90-day high: €233 The company is up 26% from its price of €184 on 15 September 2020. The British market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €233 per share. Is New 90 Day High Low • Nov 05
New 90-day high: €223 The company is up 14% from its price of €195 on 07 August 2020. The British market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €188 per share. Is New 90 Day High Low • Oct 05
New 90-day high: €206 The company is up 2.0% from its price of €203 on 07 July 2020. The British market is down 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Pharmaceuticals industry, which is down 5.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €187 per share. Reported Earnings • Sep 18
First half earnings released Over the last 12 months the company has reported total profits of €72.3m, up 110% from the prior year. Total revenue was €952.9m over the last 12 months, up 5.5% from the prior year. 
