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La santé animaleest notre passion
Jefferies 2014global healthcare conference
London, November 19Éric Marée
An independantinternational
pharmaceutical group
An international presence
4,350 collaborators+ 5% vs 2012
Present in more than
100 countries
30 sales subsidiaries
(outside France)
56% companion animals
44% foodproducing animals
736 M€turnover+ 5.9% vs 2012
An international presence
North America 14%33% of the global market
Latin America 18%13% of the global market
Europe 41%31% of the global market
Far East 23%19% of the global market
RoW 4%3% of the global market
736 M€
Independent since more than 40 years
50.3%Dick family group
49.7%
Stock exchange
• listed since 1985
• today listed NYSE Euronextcompartiment A – SBF 120
Shareholders
• The Dick family group holds 65.7% of voting rights
Others
Created in 1968 by a French DVM
Pierre-Richard Dick
3 282
2 632
2 094
1 592
1 398
1 048
909
902
396
4359
Exclusively dedicated to animal health
Worldwide ranking
100% animal healthRanked 8th worldwide
Worldwide market: 23 B$
(M$)
Vetnosis Standard Monitor 110 Q4 2013(proforma, excluding non animal health activities)
Virbac
Zoetis
An ingenious range
covering the majorityof species & pathologies
A complete range: pharmaceutical and biological drugs, nutritionnal and diagnosis product
The majority of species & pathologies
For an optimal use
• Products are made for
increased convenience and user friendliness
higher safety
enhanced effectiveness
better compliance
Distribution authorised to the general public in accordance with national regulations (distribution prohibited for France)
19.2 %
16 %
11.3 %
9 %
5.3 %
5.5%
4.9 %
2.3 %
2.1 %
5.2 %
Vetnosis 2013 (sales 2012)
(M$)
Pioneer in the companion animal market
Virbac
ranked 5th
worldwide
Pioneer in the companion animal market
• A leader position on the following segments
vaccines
dermatology
dental care
electronic identification
reproduction
• An innovative petowner offerin markets with high potential
internal and external parasiticides
petfood
Pioneer in the companion animal market
MIS 2013 - Distribution authorised to the general public in accordance with national regulations (distribution prohibited for France)
1.5 %
20.4 %
18.9 %
11.3 %
7.8 %
6.7 %
3.7%
4.2 %
3.6 %
3 %
1 %
Food producing animals: a dynamic development
(M$)
Virbac
Ranked 9th
worldwide
Vetnosis 2013 (sales 2012)
• A buoyant and challenging market
regular growth: increased needs for animal proteins
throughout the world (especially in emerging countries)
economic performance and high product effectiveness are required:
regulatory constraints (environmental impact, food safety…)
• A key positioning on antibiotics and parasiticides
• An offensive strategy on future segments
vaccines (alternatives to antibiotics)
aquaculture (the prime source of animal protein worldwide with
fishing)
Food producing animals: a dynamic development
Food producing animals: a dynamic development
MIS 2013 - Distribution authorised to the general public in accordance with national regulations (distribution prohibited for France)
Sales breakdown by region and business
12.7%
43%
2.1%
29.1% 13.2% 5.6% 6.9%54.9%
Companionanimals
Food producinganimals
Others
EuropeNorth
AmericaOther developped
countries*Emerging countries
12.3% 6.4% 24.3%
*Australia, New-Zealand, Japan, Korea
41.8% 13.8% 31.7%
2013
A complete range of services
Technical and scientific support(hotline, in practices)
Technical training
National and international congresses, webcasts (symposiums)
e-learning programme
Exchange travels for food producing animal veterinarians
MEDICAL EXPERTISE
PRACTICEMANAGEMENT
CLIENTSRELATIONSHIPS
Management training(marketing, finance, legal…)
Merchandising training
Audit in practices and coaching
Software to help for diagnosis, prescription and dispensing(web tools, iPad, iPhone)
Tools for quality diagnosis and client satisfaction
Tools for petowner loyalty
Tools for animal follow-up
Continuous technologicalinnovation
sensitive to the clients’ needs
Listening to the client
Technologicaladvances
A specific innovation model
• Business Development (licensing & acquisitions): companies, products, molecules, formulations
• R&D: a substantial portion of the budget dedicated to development (biologicals and chemical molecules)
• Formulation: specific skills and know-how to original formulations and techniques
VirbacInnovation
A worldwide R&D organisation
Mexico
USA
Vietnam
Australia
Thailand
Companion animals
Swine
Ruminants
Aquaculture
A global managementof projects organized by species
FranceR&D locations
on the
5 continents
to fit the specific
needs of the mainmarkets
Chile
Aquaculture
Santa Elena
A reactive supply chainresponding to the highest quality standards
A dynamic industrial system
• A demand-led production
Reactive, made-to-measure and flexible
(multiple small batches)
A special programme to improve
industrial competitiveness
(Lean manufacturing)
• An optimised industrial tool
An efficient ERP
Production units located nears R&D centers
GMP Mexico (SAGARPA)
USAFrance
RSAGMP RSA (Act 101 & 36)
The highest international quality standards
Mexico
GMP Europe (EMA)GMP US (EPA)
GMP US (FDA & EPA)GMP Europe (EMA)
GMP Australia (APVMA)VietnamGMP Vietnam (WHO)GMP Europe (EMA)
AustraliaGMP Australia (TGA & APVMA)
GMP Europe & USA (USDA & EMA)
ChileGMP Europe (EMA)
GMP Chili (SAG)New Zealand
GMP New Zealand (ACVM)GMP Australia (APVMA)
BrazilGMP Brésil(MAPA)
UruguayGMP MERCOSUR
(DILAVE)
A close relationshipwith veterinarians
and farmers in every country
A sales model based on proximity
• Client knowledge: search for excellence, needs follow-up (CRM),
focus groups, field visit, measure of satisfaction
• Personalised relationship: availability, advice, warmth,
service culture
• Geographical cover: almost total in each country
• Partnership B2B win-win: support of the client for
the development of its activity (marketing, management, technical training, administration…) and efficient key account management
A responsible company
focused on the future
A responsible company
• Economic: regular growth, governance transparency,
suppliers ethical commitment, local investment
• Environmental: non-polluting activities,
waste and consumption reduction, green IT
• Social: respect for humankind, encouraging of individual initiative,
skills developement, reflection of diversity
Growth acceleration in the last 5 years (turnover, M€)
0
100
200
300
400
500
600
700
800
2003 2008 2013
354.8
443.4
736.1
+4.6% p.a
+10.7% p.a
+6.8% p.aorganic
+3.9% p.aexternal
186
106,7
Profits doubled in the last 5 years (M€)
0
20
40
60
80
100
120
2008 2009 2010 2011 2012 2013
54.4 58.3
77.6
85.7
98.1104.9
35.5 38.8
63.457.5
66.660.5
Operating profit, recurring Net profit, group share
Share price growth: 22.8% p.a. in the last 5 years
Thank you for your attention