Vimian’s year-end report for 2022
Solid year in challenging macroeconomy
- Revenue increased by 62 per cent to EUR 281.3m (173.3), of which 3.7 per cent was organic growth (8.7 per cent excluding Diagnostics)
- Adjusted EBITA EUR 73.4m (53.5), corresponding to an adjusted EBITA margin of 26.1 per cent (30.8)
- Operating profit totalled EUR 39.4m (21.6), including items affecting comparability of EUR -15.3m (-19.8). Profit for the period totalled EUR -7.2m (7.8)
- Earnings per share before dilution EUR -0.02 (0.02) and after dilution EUR -0.02 (0.02)
“Our business model showed its resilience in a turbulent global environment. Vimian continued to support veterinary professionals, bringing new innovative products and services to more clinics and animals across the globe. We achieved 62 per cent total revenue growth to EUR 281.3 million, with 8.7 per cent organic growth in our companion animal business. We welcomed companies with different financial profiles and invested for future growth, resulting in a margin of 26 per cent. Despite some volatility in cash conversion between the quarters, we ended the year with 57 per cent cash conversion”, says Dr. Fredrik Ullman, CEO of Vimian Group.
Revenue for the fourth quarter increased 55 per cent to EUR 75.5m (48.7), with organic growth of 3.5 per cent (6.7 per cent excluding Diagnostics). Adjusted EBITA reached EUR 18.0m (12.0), corresponding to an adjusted EBITA margin of 23.9 per cent (24.7).
“In the fourth quarter we focused on integrating acquired companies and advancing our organic initiatives, whilst staying cautious on cost. Revenue for the fourth quarter increased 55 per cent to EUR 75.5 million. Organic growth for the quarter was held back by Diagnostics and slower growth in southern Europe, while our North America operations continue to show strong growth. Entering 2023, we see continued solid demand for advanced veterinary care and had a positive start to the year”, says Dr. Fredrik Ullman, CEO of Vimian Group.
Last twelve months pro-forma revenues (including the full year impact of all acquisitions completed during the twelve months ending 31 December) reached EUR 297 million and adjusted EBITDA of EUR 85.7 million in 2022.
A telephone and web conference will be held for investors, analysts, and media, today at 09.00 (CET). The conference will be held in English and include a question-and-answer session.
To attend the telephone conference:
Dial-in number to the teleconference will be received by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the telephone conference.
https://conference.financialhearings.com/teleconference/?id=5002947
To attend the webcast:
Link: https://ir.financialhearings.com/vimian-group-q4-2022
Related presentation materials will be available on Vimian’s website (https://vimian.com/investors/reports-and-presentations/) ahead of the telephone and web conference.