Annual Report 2023

Revenue EUR 332m
Share of revenue per segment
Above market growth
EUR 87.3m adjusted EBITA
Share of adjusted EBITA per segment
Sustained profitability
Positive employee experience
Educated animal health professionals
Full view of greenhouse gas emissions

Message from our CEO

2023 was a year of resilient growth for the global animal health market, with steady demand for more and better healthcare despite geopolitical uncertainty and a challenging macroeconomy. Vimian stayed closed to its customers and delivered above market organic growth with sustained profitability.

Patrik Eriksson, CEO Vimian Group 

Above market growth

In 2023, Vimian delivered 11 per cent organic growth, leveraging its strong global market positions in niches with unmet medical needs. To further amplify growth, the company continued to roll-out its products and services in more geographies and channels, launched 111 new products and educated 15,500 veterinarians to drive total market growth and improve quality of care.

Stronger footprint in APAC

Vimian strengthened its market positions in AsiaPacific, accounting for 10 per cent of total revenues. All segments delivered strong growth in the region. In March, Vimian acquired Bova in Australia, strengthening its position in customized specialty pharmaceuticals. In April, Vimian acquired Vettr, building on its services offering to independent clinics in Australia.

Above market growth

Vimian’s long-term ambition is to build a global sustainability leader in animal health focused on people, animals and the planet. During 2023, the company established a carbon reduction plan, established new processes for supplier screening, launched its first group-wide employee survey and appointed a Chief People Officer to enhance people development and experience.

Strong growth in the past two years

Combining organic growth and acquisitions Vimian has more than doubled in size since 2020 reaching pro-forma revenue of EUR 336m and adjusted EBITDA of EUR 99m by end of 2023.

Accelerating innovation

In 2023, Vimian launched in total 111 new products. The novel molecular allergy test, PAX, was commercialized in Europe and US, and the development of new allergy vaccines entered its next phase with efficacy studies in laboratory dogs. Vimian’s new AI enabled diagnostics platform to detect and analyze parasites among animals was successfully launched in two European markets.