Here is a summary of the financial report for Eco Animal Health Group plc for the six months ended September 30, 2024
Performance Highlights
Group revenue decreased by 13% to £33.2 million, with a 9% decrease on a constant currency basis.
Gross margins remained relatively stable at 40.3%, compared to 40.8% in the previous year.
Adjusted <mark style="background-coloryellow">EBIT</mark>DA stood at £0.4 million, down from £0.7 million in the same period last year.
Loss per share was 2.50p, compared to a loss per share of 1.93p in the first half of 2023.
Cash generated by operations before working capital increased to £0.8 million.
Cash balances decreased to £18.3 million.
Operational Highlights
Revenue in the USA and Canada increased by 5% to £8.6 million.
Latin America revenue grew by 8% to £8.3 million.
Improving pork prices and better producer profitability positively impacted revenues in August and September 2024.
Rigorous control of input costs helped maintain gross margins.
Aivlosin® received a new marketing approval in Paraguay.
Late-stage Mycoplasma vaccine projects for poultry progressed towards regulatory submission, with launches planned for 2025.
The company disposed of a non-core equine anti-parasitic product for £1.0 million.
Outlook
The Group expects a stronger second half due to the typically increased demand for Aivlosin® during the Northern Hemisphere winter.
The Board remains confident that full-year profitability will be in line with market consensus.
The Group will continue to invest in its R&D pipeline and pursue options to realize value.
The Board looks forward to reporting full-year numbers in line with revised market expectations.