Our Highlights

Financial Highlights

Revenue (£m)

+22.4%

Revenue 2017

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Underlying* EBITDA (£m)

+11.9%

Underlying EBITDA 2017

*Underlying measures exclude non-underlying items as analysed in note 5 of our Annual Report.

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Underlying* Basic EPS (p)

-24.6%

Underlying Basic EPS 2017

*Underlying measures exclude non-underlying items as analysed in note 5 of our Annual Report.

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Performance and Progress

Financial Performance

  • Revenue growth of 22.4% at AER (9.6% on a proforma basis) with strong growth in Companian Animals and Production Animals.
  • Underlying EBITDA increased by 11.9% at AER however declined by 8.5% on a proforma basis due to in particular changing sales mix and overhead investment.
  • Reported operating profit decreased to £1.2m (2016:£6.0m)
  • Net debt at £25.9m representing 2.2 times proforma Underlying EBITDA.
  • Propose a total dividend of 6.7p, consistent with total dividends for the previous year ended 30th June 2017.
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Operating Progress

  • Distribution contracts ended to bring cross selling opportunities in house from Q4 2018.
  • Integration is wide-ranging and in progress, with priority focus on supply chain, systems (HR & IT) and product development. NPD projects have been prioritised to maximise return on investment.
  • Personnel reorganisation underway, with internal promotions made to lead Technical and Commercial Development and Export late in the year. Post year-end, new Country Managers have been recruited into our UK and Spanish operations.
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Chairman's Statement

"We believe we have created a platform for strong future growth"

Jan Boone

Non-Executive Chairman

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Chief Executive's Review

"The key aim for our business is to create a cash- generative, growing pan-European animal health company"

Chris Cardon

Chief Executive Officer

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Chief Financial Officer's Review

"The reverse acquisition will provide a number of opportunities for growth..."

Chris Brewster

Chief Financial Officer

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Our Investment Case

Animalcare benefits from its transformational acquisition

Animalcare is a sustainable growing business in a growing market

Animalcare is cash generative

Animalcare is dividend paying

Animalcare has a clear strategy for growth

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Our New Group

Our business is divided into two divisions; pharmaceuticals and wholesale.

Dogs

Pharmaceuticals

Products are supplied to animal health professionals both directly or through national distribution networks and fall into two categories: regulated pharmaceuticals and over the counter products. Products are either owned by the Group or on distribution from third parties.

Cat

Wholesale

Medini is the wholesaling division based close to Bruges, supplying medical, veterinary and paramedical products to veterinary professionals throughout Belgium. The business has been trading for 25 years and is well established in this stable market.

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Our Strategy

Animalcare will continue to focus on delivering growth both organically and through selective acquisitions to accelerate its overarching strategy of becoming a leader in the European animal health market.

Our Strategic Objectives:

1 Initiating cross-selling

2 Implementing effective business integration

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Our Strategy

Animalcare will continue to focus on delivering growth both organically and through selective acquisitions to accelerate its overarching strategy of becoming a leader in the European animal health market.

Our Strategic Objectives:

3 Developing relationships

4 Identifying acquisitions

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Our Strategy

Animalcare will continue to focus on delivering growth both organically and through selective acquisitions to accelerate its overarching strategy of becoming a leader in the European animal health market.

Our Strategic Objectives:

5 Diversifying the Enlarged Group’s portfolio

6 Broaden the Enlarged Group’s pipeline innovations

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