**Summary of Animalcare Group PLCs Interim Results for H1 2025**
**Financial Performance Highlights**
**Revenue Growth** Increased by 18.5% to £43.8 million (20.8% at constant exchange rates), driven by the successful acquisition and integration of Randlab.
**Underlying EBITDA** Grew 39.5% to £9.2 million, with margins improving to 21.1% from 18.0%, primarily due to Randlab’s high gross margins.
**Underlying Profit After Tax** Rose to £6.7 million from £3.5 million in H1 2024.
**Cash Generation** Strong cash conversion rate of 70.6%, with net debt reduced to £7.9 million (excluding lease liabilities).
**Dividend** Interim dividend increased by 10% to 2.2 pence per share.
**Strategic and Operational Achievements**
**Randlab Integration** Successfully integrated Randlab, contributing significantly to revenue and profit growth, particularly in the Equine segment.
**Flagship Brands** Daxocox and Plaqtiv+ delivered double-digit growth, supported by new product launches and expanded territorial reach.
**Pipeline Expansion** Strengthened R&D pipeline with acquisitions like the VHH NGF antibody program and collaboration with 272Bio for equine treatments.
**Strategic Investments** Secured a 25% equity stake in InVetro, expanding presence in the Asia-Pacific companion animal market.
**Outlook**
Full-year results expected to be in line with expectations, supported by strong H1 performance and post-period trading.
Continued focus on optimizing the existing portfolio, accelerating pipeline development, and pursuing strategic partnerships and acquisitions.
**Key Metrics**
**Revenue** £43.8 million (H1 2024: £36.9 million).
**Underlying EBITDA** £9.2 million (H1 2024: £6.6 million).
**Underlying EPS** 9.7 pence (H1 2024: 5.8 pence).
**Net Debt** £7.9 million (H1 2024: £9.0 million).
**Management Commentary**
CEO Jenny Winter highlighted strong commercial execution and strategic progress, emphasizing the transformative impact of Randlab and the growth of key brands. The Group remains focused on innovation and geographic expansion to drive sustainable growth.
**Conclusion**
Animalcare Group PLC delivered a robust first-half performance, underpinned by strategic acquisitions, strong brand performance, and pipeline enhancements. The Group is well-positioned for continued growth, with a clear focus on innovation, partnerships, and market expansion.