Animalcare Group plc

Revenue growth

key initiatives

Focus on segments and products with highest potential
New product launches
Leverage strengths across all our direct markets
Maximise opportunities in other high growth markets through partnerships or selective acquisition

progress

2022 priorities

Cash conversion and net debt

key initiatives

progress

2022 priorities

Support investment in growth strategy by maintaining strong cash conversion within 90%-100% range
Maintain EBITDA leverage in the range of 1 to 2 times

Underlying EBITDA margin and EPS growth

key initiatives

progress

Total number of brands in portfolio close to steady state target of 150. Reduced from c.330 at time of merger
Underlying EBITDA margin increased to 18.2% even allowing for absorption of higher SG&A investment in people
Underlying EPS of 12.0 pence

2022 priorities

Investment in new product launches, other growth opportunities and capability development while maintaining focus on operational efficiency

Attract, retain and develop talented people

key initiatives

progress

Well ahead of Gallup's average benchmark of European companies despite slight decline (down 4%) in annual employee engagement score
Strengthened sales and marketing capabilities
Wellbeing programme available for all employees
Launch of leadership development and talent management programme

2022 priorities

Organisation for growth

key initiatives

progress

Regional structure and Senior Executive Team (SET) supporting focus on performance and growth opportunities
Sandra Single appointed Strategic Product and Portfolio Director and joined SET (February 2022)

2022 priorities

Launch new products and develop differentiated and innovative pipeline of products for the future

key initiatives

Strengthen internal pipeline of differentiated products through partnerships, in-licensing and acquisitions
Prioritise and accelerate in-house R&D projects

progress

EU and UK authorities approve Daxocox for canine OA-related pain
Early-stage pipeline licence and collaboration deal signed with Orthros Medical to develop innovative therapies using VHH antibodies (March 2022)
Advancement of life cycle management (LCM) programmes for Daxocox and STEM biofilm technology

2022 priorities

RNS