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 ยฃ33.2 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 ยฃ0.4 million, down from ยฃ0.7 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 ยฃ0.8 million.
Cash balances decreased to ยฃ18.3 million.
Operational Highlights
Revenue in the USA and Canada increased by 5% to ยฃ8.6 million.
Latin America revenue grew by 8% to ยฃ8.3 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.
Aivlosinยฎ 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 ยฃ1.0 million.
Outlook
The Group expects a stronger second half due to the typically increased demand for Aivlosinยฎ 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.