ECO Animal Health Group plc is a leader in the development, registration and marketing of pharmaceutical products for global animal health markets. The company specialises in high quality medicines for the treatment of important diseases in the livestock sector. ECO Animal Health are dedicated to the research, development and marketing of strong brands, differentiated generics and innovative new solutions.

25 Apr 2024

FY24 ahead of expectations

In a trading update for the twelve months to end 31 March 2024, ECO Animal Health reports that revenue should be close to £90m; this compares to the March trading update outlook of £88.7m. The Group expects that FY24 (adj.) EBITDA should be in line with the current market consensus expectation of £7.8m (ED estimate was £7.6m). The year-end cash position was approximately £22.0m; we estimated £20.1m.

The Group also noted EBITDA delivery against the background of maintained investment in R&D, the wellspring of future product and revenue streams. Our FY24 estimates include provision for £4.2m of R&D spend for the year.

Our Fair Value range is 137p-146p, reflecting the potential in the pipeline of products under development, which is backed by the rigour of EAH’s development-to-distribution process.

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