Virbac (VIRP) Q3 2025 TU earnings summary

Executive summary

• Third quarter consolidated revenue reached €364.1 million, up 12.5% at constant exchange rates and scope compared to Q3 2024, reflecting strong organic growth across all regions.

• Cumulative revenue at the end of September 2025 was €1,102.4 million, a 5.8% increase year-over-year, or 7.8% at constant exchange rates and scope.

Financial highlights

• Revenue for the first half of 2025 was €1,102.4 million, with growth of 7.8% at constant exchange rates and scope.

• Companion animal segment grew 11.3% and farm animal segment 6.1% at constant exchange rates and scope over nine months.

• Europe posted 6.8% growth, North America 18.1%, Latin America 9.1%, IMEA 8.7%, East Asia 3.2%, and Pacific -3.6% at constant exchange rates and scope for the nine-month period.

Outlook and guidance

• Full-year revenue growth guidance upgraded to 5.5%-7.5% at constant rates and scope, up from previous 4%-6%.

• Adjusted recurring operating income expected to consolidate around 16% of revenue at constant scope and exchange rates.

• Cash position projected to improve by approximately €80 million in 2025, excluding acquisitions.