Our Purpose

Animalcare is a sustainable and passionate organisation committed to leading in animal health through innovative and trusted products and services to support the veterinary profession.

We care about the about the well-being of animals and the positive impact that healthy animals have on their owners and society.

Financial Highlights

We have delivered revenue and underlying EBITDA growth and reduced net debt.

Net debt (£m)

£23.6m

Net debt reduced by £2.3m with net debt: Underlying EBITDA leverage at 2.0 times

Net Debt 2018

Revenue (£m)

£72.5m

Revenue up

16.3%

(+2.7% on a proforma basis)

Revenue 2018

Underlying* EBITDA (£m)

£11.8m

EBITDA increased by

21.7%

(+2.8% on a proforma basis)

Underlying EBITDA 2018

Underlying* Basic EPS (p)

11.7p

Underlying Basic EPS decreased by

4.9%

(+8.3% on a proforma basis)

Underlying basic EPS

Revenue (£m)

£72.5m

Revenue up

16.3%

(+2.7% on a proforma basis)

Revenue 2018

Underlying* EBITDA (£m)

£11.8m

EBITDA increased by

21.7%

(+2.8% on a proforma basis)

Underlying EBITDA 2018

Underlying* Basic EPS (p)

11.7p

Underlying Basic EPS decreased by

4.9%

(+8.3% on a proforma basis)

Underlying Basic EPS 2018

Net debt (£m)

£23.6m

Net debt reduced by £2.3m with net debt: Underlying EBITDA leverage at 2.0 times

Net Debt 2018
PDF DOWNLOAD

Why Animalcare?

Animal icon

European animal healthcare company operating in companion, equine and production animal markets

Globe icon

Product sales in 32 European markets through direct commercial presence and partnerships

Syringe icon

Meeting the needs of vets in pain management, surgery, dermatology, vaccines, dental care and microchipping

Microscope icon

Late-stage pipeline from internal R&D and external collaborations

PDF DOWNLOAD

Our Strategy

Our vision is to become a leading European veterinary pharmaceutical business. Animalcare will continue to focus on delivering growth both organically and through selective acquisitions to accelerate its overarching strategy of becoming a leader in the European animal health market.

The Group’s core areas of strategic focus will be on:

Strong finances

Strong finances

Growth portfolio

Growth portfolio

Customer relationships

Customer relationships

Business development

Business development

Organisation for success

Organisation for success

Revenue Growth

Key Initiatives

  • Focus on therapeutic areas with highest potential
  • Focus on higher margin products
  • Leverage strengths across all markets in which we operate
  • Maximise opportunities in high growth markets through partnerships or selective acquisition

Cash generation

Key Initiatives

  • Supply chain efficiency
  • Optimise inventory management
  • Relationships with preferred third-party suppliers
  • Commercial and cost synergies through integration

Underlying EPS and stakeholder return

Key Initiatives

  • Effective cost management

EBITDA margin increase

Key Initiatives

  • Effective cost management

Focus on existing core brands that generate sustainable growth and margin

Key Initiatives

  • Build on capabilities in pain, dermatology, dental, disease prevention, surgery and microchipping.
  • Prioritise and accelerate in-house R&D

Establish in-house sustainable pipeline

Key Initiatives

  • Build on capabilities in pain, dermatology, dental, disease prevention, surgery and microchipping
  • Prioritise and accelerate in-house R&D

Chosen partner for vets and veterinary groups

Key Initiatives

  • Strengthen commercial teams and specialist expertise
  • Provide extensive range of trusted, high quality products in target therapeutic areas
  • Flexibility to respond to evolution of different markets

In license products and develop network partnerships

Key Initiatives

  • In-license and acquire innovative products
  • Be selected partner for companies selling into Europe
  • Build ongoing partnerships in growing markets globally

Increase employee engagement

Key Initiatives

  • Build leadership capabilities
  • Align reward to performance
  • Drive communications and collaboration
  • Improve diversity

Attract, retain and develop talented people

Key Initiatives

  • Develop unified culture
PDF DOWNLOAD
Jan Boone

Chairman's Statement

"Animalcare has made good progress in 2018 and early 2019 as we focus on creating a Competitive platform for future growth."

Jan Boone
Non-Executive Chairman

PDF DOWNLOAD
Jenny Winter

Chief Executive Officer's Review

"On joining Animalcare I saw an opportunity to bring the team together andbuild the pipeline to drive future success"

Jenny Winter
Chief Executive Officer

PDF DOWNLOAD
Chris Brewster

Chief Financial Officer's Review

"We have delivered growth at a time of much change within our business."

Chris Brewster
Chief Financial Officer

PDF DOWNLOAD

Q&A with the Chief Executive

Jenny Winter

Jenny Winter
Chief Executive Officer

PDF DOWNLOAD

What attracted you to join Animalcare?

When I was first introduced to Animalcare through the web site, the Annual Report and talking to the recruitment team, I was surprised by the many similarities between Animal and Human Healthcare businesses. I was intrigued and I saw where my own broad experience across functional areas and countries could add value, plus the opportunity to continue my personal development – with lots to learn.

When I met the Senior Team at Animalcare I recognised the energy and commitment, and the challenge that we faced. I have always been passionate about leadership and have a strong belief the difference between success and failure is the people. I saw a huge opportunity to bring the team together into the new post deal company and really drive future success.

From a very personal perspective – I have always been interested in animal health with aspirations as a teenager to be a vet!

What skills and experience will you bring to Animalcare from big pharma?

I worked in a broad range of functions and countries in the human pharmaceutical sector and this has given me an insight into the critical functions. The areas that I am already experiencing that are directly transferable include Research and Development, Sales and Marketing and Supply Chain as well as Corporate Affairs. Throughout all my previous roles, Financial management was a corner stone. From the perspective of knowledge and understanding – all these areas are transferable.

As I said previously, I have been passionate about leadership throughout my career and have had an opportunity to learn from some of the “best in business”.

In in the last 12 years I have spent most of my time leading large diverse teams across the world. I’ve lived in different countries including Hungary, Australia, Ireland and the US and I have found the experience of working with different cultures is very helpful during my first six months at Animalcare.

What are some of the differences and similarities between the human pharmaceutical industry and the animal health industry?

In most countries, the Government is a critical stakeholder in human health as a payer or structurally and over the last 20 years countries have adopted a more centralised approach to healthcare delivery. In animal care the government is less central to the provision of care to the pet, farm animal or horse – yet they still have a critical role in the regulatory process and legislative framework. The structure of the markets in animal health is more diverse – but is starting to consolidate with the increasing importance of buying groups, corporate ownership of practices and the development of primary and secondary treatment centres and specialist hospitals.

Whilst the therapies used in animal health are similar to human health, and I find myself working on many familiar products – having an indication by species is a significant difference and the regulatory requirements for each species create more complexity than a clinical program for humans.

Pricing of products in human health is driven by regulations and payer organisations in most countries with the “out of pocket” market moving gradually to an insurance or government-based funding model.

In animal care the increase in buying groups and corporates is starting to drive the need for good economic arguments for new products however these changes are happening more gradually and at a different pace in different countries. This means that our organisation needs to be agile and flexible, and close to our customers, so that we can build the right business model, adapt our organisation and respond to the pace of change.

What do you think are biggest opportunities in sector?

The biggest opportunity from a financial perspective is that the market is growing, pet ownership is increasing and there are positive developments in the market place, both in terms of new treatments and in terms of new customers.

What do you see as Animalcare’s greatest challenges?

Animalcare is the combination of three successful businesses that came together in 2017. Esteve, Animalcare UK and Ecuphar. Each business had different products, portfolio and culture  which created a complex and fragmented organisation.

The delay in integration has led to a difficult 18 months and has had significant financial consequences. Integration has now been give high priority and actions are in place to simplify the organisation, reduce duplication and prioritise the critical activities. Whilst late, these actions will create an organisation that is more cost effective, efficient and equipped to drive sustainable growth over the next 3 to 5 years.

What is Animalcare’s greatest strength?

Without wanting to sound cliched – the people are our biggest strength. The team is passionate and committed with many of the right skills and capabilities. We have people with experience in innovative new products, we have great relationships between our sales people and their customers, and we are developing a strong leadership team. We will focus on attracting, developing and retaining the right people.

Animalcare Group has a history of growth and financial success, we have a competitive portfolio of products, we have a good network and we are developing a pipeline of future products that will help us to be the partner for better animal health and create sustainable growth.

Our Marketplace


Vet and Horse
PDF DOWNLOAD

Our Business Model


Business model
PDF DOWNLOAD