2005 Annual report - Virbac
2005 Annual report - Virbac
2005 Annual report - Virbac
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13<br />
Finance<br />
and stock market<br />
Share price (daily price)<br />
The <strong>Virbac</strong> share price rose by 52.5% in <strong>2005</strong>.<br />
45<br />
■ <strong>Virbac</strong> S.A. share<br />
■ SBF 250 index<br />
40<br />
35<br />
30<br />
25<br />
January 05<br />
February 05<br />
March 05<br />
April 05<br />
May 05<br />
June 05<br />
July 05<br />
August 05<br />
September 05<br />
October 05<br />
November 05<br />
December 05<br />
January 06<br />
February 06<br />
March 06<br />
Debt ratios<br />
The Group’s financial position continued to improve in <strong>2005</strong> with consolidated net debt falling to €14.8 million, namely 8.2%<br />
of total equity and provisions compared to €37.9 million and 25.8% respectively at end 2004.<br />
The Group’s cash flow from operations amounted to €39.9 million compared to €29 million in 2004, representing an increase<br />
of 37.4% on the back of an improvement in the Group’s profitability and inventory controls.<br />
Net debt / cash flow<br />
Net debt / consolidated equity and provisions<br />
1.31<br />
25.8%<br />
0.37<br />
8.2%<br />
2004 <strong>2005</strong><br />
2004 <strong>2005</strong>
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