Ceva continues rapid growth in 2011

Twin pillar strategy of combining internal and external growth opportunities drives further global expansion

Libourne, France, March 1, 2012:

During 2011 Ceva Santé Animale achieved 13.3% growth through €530m in net annual sales, the first time the company reached the half billion euro mark. The company also invested record levels in research and development to fund future growth investing over €50m close to 10% of sales. All of Ceva’s geographic zones achieved an increase in operating profit.

Internal growth driven by key products
Concentration on key brands has continued to drive internal growth where these products now represent more than 60% of sales.
Particularly pleasing was the performance of the Vectra® range of external parasiticides distributed exclusively through veterinarians in the US.  Whilst many animal health companies chose to switch their allegiance to other channels, Ceva’s decision to stay with a “vet only” approach resulted in a 23.2% increase of sales.
Ceva’s lead in poultry vaccine innovation became more evident as Transmune® IBD the immune complex vaccine against Gumboro Disease was used to protect more than 16 billion broilers globally against Gumboro disease. Vectormune HVT-NDV  the latest in an expanding range  of vector vaccines was also launched in several countries, making it possible for the first time to protect against 3 major diseases in the hatchery.

Strong external growth
2011 saw a strong contribution from the two newly integrated businesses, Summit VetPharm in the United States and Nature Vet in Australia, both acquired during 2010.
Ceva re-enforced its position in the strategically important Chinese market following the signature, in July, of a joint venture agreement between Ceva and Huadu creating Beijing Ceva Huadu Biological Co. Ltd, which started operations in January 2012. The Huadu Group has a leading position in China’s poultry vaccine market.
In South America, Ceva acquired Argentina’s Instituto Sanidad Ganadera, a family-owned business specializing in the development and production of biologicals for ruminants, enlarging the groups’ expertise in this area.
Vetech Laboratories, Inc., a Canadian company producing live poultry coccidiosis vaccines was acquired in October giving Ceva access to the vital gut health market in over 40 countries.  In the same month the company also strengthened its presence in Canada with the acquisition of CentaurVA Animal Health, a business primarily focused on the companion animal market.

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