Annual financial report 2007 - Virbac

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Virbac is present in South Africa where thefood producing animal business made a markedcontribution to the growth in the area this year.The inclusion of a new range providing protectionagainst infection in food producing animalsgenerated substantial additional sales.28 • 2007 ANNUAL REPORT
Africa &Middle EastPositions strengthenedin South AfricaSole distribution of Phibro productsAt the beginning of 2007, the changes in the world leaderin the drug additives and premixes sector, Phibro AnimalHealth (Phibro), enabled Virbac to strengthen its positionin South Africa.Following the closure of Phibro’s local subsidiary,Virbac RSAwas selected as the sole distributor of the range.Requiring marginal investment, this acquisition makes Virbacthe unquestionable leader in medicated feed additives andpremix the segment in South Africa.Acquisition of Argos assets: products perfectly suited to thetreatment of local parasitesOn 6 December 2007,Virbac acquired a series of 11 productsfrom the South African company Argos Veterinary Science Ptyas well as rights to use them worldwide. This acquisitionenabled Virbac to strengthen its already strong positions onthis market thanks to a range of parasiticides perfectly suitedto the local requirements.The medium-term use of these products should lead toa substantial improvement in the position of the Virbac groupand its market shares and enable it to become a major playerin the region.2007 ANNUAL REPORT • 29
Page 1 and 2: 2007Annual reportPassionate about a
Page 3 and 4: Overview of the Virbac GroupA labor
Page 5 and 6: Contents2 Message from the chairman
Page 7 and 8: This strong organic growth in the f
Page 9 and 10: iuUnited States: optimise the St. L
Page 11 and 12: The supervisory boardThe supervisor
Page 13 and 14: Cash flow(in € million)Investment
Page 15 and 16: 1 focus on animal health and the qu
Page 17 and 18: Established in 5 continents through
Page 19 and 20: Europe6.5% sales growth in European
Page 21 and 22: Milteforan® the first oraltreatmen
Page 23 and 24: NorthAmericaSynergy between the Uni
Page 25 and 26: LatinAmericaNow in its fourth year,
Page 27 and 28: PacificPreparing the premises in Au
Page 29 and 30: 1 Architect: Farr Yacht Design (Uni
Page 31: AsiaChina: Virbac, pioneer in compa
Page 35 and 36: 31Managementreport 2007With a growt
Page 37 and 38: 33Companion animalsAt 31 December 2
Page 39 and 40: 351 HollandGrowth here essentially
Page 41 and 42: 371 New ZealandIn 2007, the New Zea
Page 43 and 44: 39• an automatic filling line for
Page 45 and 46: 41Dividends over the past three yea
Page 47 and 48: 43• member of the management boar
Page 49 and 50: 45Informationon shareholdersand sto
Page 51 and 52: 47either new products ready to be m
Page 53 and 54: 49KWh (kilowatt-hours) 2007 2006 20
Page 55 and 56: 51Change in workforce per geographi
Page 57 and 58: 53Fees paid by the Groupto the stat
Page 59 and 60: 55Preparationand organisation of th
Page 61 and 62: 57is responsible for its own operat
Page 63 and 64: 59The strategy of implementing a co
Page 65 and 66: 61The Legal Department ensures lega
Page 67 and 68: 63Report of the statutory auditors
Page 69 and 70: 65Consolidated financial statements
Page 71 and 72: 67Cash flow statement(€ thousands
Page 73 and 74: 69Notes to theconsolidated financia
Page 75 and 76: 71out during the second half of the
Page 77 and 78: 73Other non-recurring operating rev
Page 79 and 80: 75Notes to the consolidated financi
Page 81 and 82: 771 USA: acquisition of Rebound Ani
Page 83 and 84:
79Note B4 - Other financial assets2
Page 85 and 86:
81Note B10 - Cash and cash equivale
Page 87 and 88:
83Note B14 - Provisions2006 Charges
Page 89 and 90:
85Note R3 - Other operating revenue
Page 91 and 92:
87Note A1 - Segment informationThes
Page 93 and 94:
89Trade receivablesFrance Europe La
Page 95 and 96:
91ResultsFrance Europe Latin North
Page 97 and 98:
93Note A3 - Management of risks con
Page 99 and 100:
95The financial interest rate deriv
Page 101 and 102:
97Note A6 - Information regardingth
Page 103 and 104:
99• 2007 plan: same conditions as
Page 105 and 106:
101Report of the statutory auditors
Page 107 and 108:
103Supervisory board reportThe exec
Page 109 and 110:
105Fourth resolution (regulated agr
Page 111 and 112:
107IndexFlap• Animal health marke
Page 113:
Virbac13 e rue LID - BP 2706511 Car
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Annual financial report 2007 - Virbac

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