2005 Annual report - Virbac

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2005 Annual Report 22 Industrial competitiveness Ongoing improvement: from ownership to action In order to improve the competitiveness of its French sites, Virbac adopted an innovation strategy in 2004 designed to transpose to the world of pharmaceuticals the productivity concepts of the automotive industry, at the cutting edge of industrial competitiveness. So with the assistance of experts, the Group has for over a year been implementing an ongoing improvement policy based on lean manufacturing with the following core aspects: controlling standards, optimising flows, seeking out added value. This Virbac industrial system has two goals: customer service and Group profitability. Following a Group employee ownership phase in 2004, the Group this year moved into an ongoing improvement process. Key figures • 8 production units in France • 300 employees working in production and control
23 FOCUS Interview with Guy Rendu, Logistics director Involving all employees Emphasising simple and effective processes, in 2005 Virbac rolled out its lean manufacturing methods in its plants and subsequently in its quality control laboratories. The main area of work was to optimise physical flows and to simultaneously uncover areas for improvement. Virbac employees were highly involved in this improvement plan, playing a major and central role in the system. The Group thus obtained initial results that were satisfactory and compelling, enhanced by management involvement in support of change management. Virbac’s next goals: adapt its organisation and roll out the ongoing improvement policy to the various Group departments in order to optimise performance management. “The ongoing improvement policy is meant to be applied to all company activities: lean manufacturing applies to production activities, lean office to administrative work. At the end of 2005, the Logistics department launched a programme to optimise the way in which it operates. The teams first of all focused on optimising customer-facing processes. To achieve the goal, a series of projects were put in place: ◆ a “supplier performance” project designed to cut supply timelines; ◆ a cross-company project designed to cut the time to market for new products once they have been granted Marketing Authorisation; ◆ a project designed to optimise distribution processes. Other initiatives are also underway to improve interaction with the subsidiaries. In any event we are striving to provide better visibility internally on the performance of each process. All these initiatives should enable Virbac to improve its responsiveness vis-à-vis its customers and better meet their expectations.”
Page 1 and 2: 2005 Annual report Passionate about
Page 3 and 4: Bringing our expertise and care to
Page 5 and 6: 1 Contents A message from the Chair
Page 7 and 8: 3 Éric Marée Chairman of the Exec
Page 9 and 10: 5 Breakdown of shareholders in term
Page 11 and 12: 7 In 2005, 30% of sales were genera
Page 13 and 14: 9 Cash flow (in € million) 39.9 2
Page 15 and 16: 11 • A new freeze-dryer with a ca
Page 17 and 18: 13 Finance and stock market Share p
Page 20 and 21: 2005 Annual Report 16 Innovation Mo
Page 22 and 23: 2005 Annual Report 18 The customer
Page 24 and 25: 20 2005 Annual Report The Virbac-Pa
Page 28 and 29: 2005 Annual Report 24 Human resourc
Page 30: 2005 Annual Report 26
Page 33 and 34: 29 Management report 2005 Virbac sa
Page 35 and 36: 31 ❖ Equine Equine products close
Page 37 and 38: 33 ❖ In Portugal 2005 sales at Vi
Page 39 and 40: 35 Acquisitions and disposals Virba
Page 41 and 42: 37 Consolidated balance sheet and f
Page 43 and 44: 39 A resolution will be submitted f
Page 45 and 46: 41 - Member of the Management board
Page 47 and 48: 43 ◆ Investors and analysts are w
Page 49 and 50: 45 ◆ checking air emissions, ◆
Page 51 and 52: 47 Virbac in France Workforce Virba
Page 53 and 54: 49 Report of the Chairwoman of the
Page 55 and 56: 51 financial information, execution
Page 57 and 58: 53 This organisation, put in place
Page 59 and 60: 55 the recognition of transactions
Page 61 and 62: 57 The Industrial operations depart
Page 63 and 64: 59 Consolidated financial statement
Page 69 and 70: 65 Translation of financial stateme
Page 71 and 72: 67 Inventories and work-in-progress
Page 73 and 74: 69 In the case of exchange rate hed
Page 75 and 76: 71 Notes to the consolidated financ
Page 77 and 78:
73 Property, plant and equipment by
Page 79 and 80:
75 Note B7 - Deferred income tax As
Page 81 and 82:
77 Note B12 - Employee benefits (
Page 83 and 84:
79 Note R1 - Sales Sales breakdown
Page 85 and 86:
81 Note R6 - Breakdown of net incom
Page 87 and 88:
83 Note A4 - Composition of Virbac
Page 89 and 90:
85 Note A10 - Consolidation scope a
Page 91 and 92:
87 Transition to IFRS Consolidated
Page 93 and 94:
89 Transition to IFRS LIABILITIES A
Page 95 and 96:
91 Transition to IFRS Breakdown of
Page 97 and 98:
93 Supervisory board report The Exe
Page 99 and 100:
95 As required by law, details of t
Page 101 and 102:
97 ❖ to record the finalisation o
Page 103 and 104:
99 Index Page 5 ◆ Shareholder str
Page 105:
Virbac 13 ème rue LID - BP 27 0651
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2005 Annual report - Virbac

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