Ceva Returns to Double-digit Growth During First Half of 2014

by 5m Editor
24 July 2014, at 6:22am

FRANCE - Consolidated first semester sales of Ceva Group reached €366.5m at the end of June representing growth of 18.3 per cent versus last year.

At constant perimeter (without Sogeval acquisition end of 2013) and exchange rates, growth was 10.8 per cent. Unfavourable exchange rate movements impacted sales €22m.

Sales grew in all zones, with particularly strong performance from the companion animal sector (+12 per cent), where Vectra, Ceva’s leading topical parasiticide for companion animals benefited from strong sales in the US and a successful launch across the European Union.

Ceva began its 4th and latest LMBO on 1 July 2014, following a highly successful reshaping of its capital structure to include a diverse range of new shareholders who will help Ceva to achieve its ambition to enter the top 5 of the global animal health companies by 2020.

Marc Prikazsky, Ceva’s Chairman and CEO commented, "To finish the last six months of our previous LMBO on such a high note is extremely pleasing. Our new shareholders have placed a lot of confidence in the future of our business, not least the management team who re-invested very significantly to retain majority control. These results demonstrate that we have the right platform in place to deliver future sustained growth."