Annual report cover

Annual Report for the year ended 31 December 2020

Animalcare Group plc is an international veterinary sales and marketing organisation driven by a collective belief that healthy animals can have a hugely beneficial effect on their owners and wider society.

HIGHLIGHTS

Our goal is to become a leading animal health care company. Through delivery of our strategy we are now able to leverage our increasingly strong base to drive future business growth.”

Jan Boone, Non-Executive Chairman

Our business model

By focusing our resources on the development, supply and marketing of products and services to the veterinary profession, our business model creates value for a range of stakeholders.

Key resources

Our key activities

Value created for stakeholders

Our people represent a competitive advantage

People

Having the right people, capabilities and engagement across the organisation is fundamental to delivering our strategy and the long-term success of the Group. Our ongoing objective is to create a high-performing business driven by a skilled, unified and committed team.

Industry knowledge

We have extensive knowledge of the Companion Animal, Equine and Production Animal markets in which we operate and the regulations that govern them. More than 20% of our people are qualified vets.

Customer relationship

The relationships with the individual vets and veterinary groups that are our core customers are key and our sales force has extensive experience and knowledge of their markets and products to support the needs of these customers.

Partnerships

The Group has developed a series of partnerships that help support the success and smooth running of the business. These range from joint ventures that strengthen our pipeline and commercialisation agreements that increase the reach of innovative products through to long-standing relationships with contract research and manufacturing organisations.

Balanced portfolio

Animalcare operates a portfolio of around 200 brands with particular strengths in our core therapy areas of pain management, allergy and non-antibiotic anti-infectives. We continue to increase the quality of our portfolio through the development of novel differentiated products and a focus on a smaller number of bigger, higher margin brands.

Financial platform

Critical to our future growth is the further development of our product portfolio. Our solid financial platform, with improved cash generation and reduced net debt, enables us to increase investment and leverage our stronger base to deliver future growth and value to our shareholders.

Our core activities combine to create sustainable growth and long-term value for our stakeholders

  • We develop and commercialise novel pharmaceutical products for the animal health market. These are developed in-house, acquired from other companies or in-licensed from partners.
  • Outside our direct markets we seek to commercialise our own products through international partnerships.
  • We manufacture our products through a network of specialist contract manufacturing organisations.
  • We manage an extensive international supply chain, including specialist veterinary wholesalers.
  • Through our close relationship with stakeholders and our sales and marketing capabilities we sell products to veterinary practices and veterinary groups.
  • The cash we generate from these activities helps fund investment in our pipeline of new products and supports the continuing development of our sales and marketing capabilities.

Employees

Employees benefit from the ability to improve their skills and work in a challenging and expanding international organisation.

Customers

Animalcare seeks to provide a choice of innovative and trusted products and services to support veterinary professionals and other stakeholders. Our agile business model and close customer relationships help ensure we are aligned with the changing needs of our markets.

Keepers of animals

Our veterinary products and services help maintain or improve the health and well-being of animals across our markets. That brings huge benefits to owners and wider society.

Suppliers

The Group does not own manufacturing assets so it works with third-party manufacturers to supply finished products. We engage with suppliers to develop and maintain trusting long-term relationships and to create mutual value.

Partners

Our partnerships are wide ranging in scope and help ensure the success and effective operation of our business. We create value through long-term collaborations on mutually agreed terms.

Shareholders

Through execution of our growth strategy, we aim to consistently deliver a strong financial performance for our shareholders and generate attractive returns over the long term.

Agility

Our agility, expertise and local knowledge means we know our markets and are able to adapt to evolving needs.

Trust

We have built trusted relationships with individual veterinary practices and larger veterinary groups.

Innovation

We are increasingly focused on differentiated therapies that can meet the needs of our customers while delivering sustainable above-sector growth.

Partner of choice

We are positioned as a preferred international partner for companies that want to develop new treatments or bring their innovative products into the European marketplace.

Having the right people, capabilities and engagement across the organisation is fundamental to delivering our strategy and the long-term success of the Group. Our ongoing objective is to create a high-performing business driven by a skilled, unified and committed team.

Industry knowledge

We have extensive knowledge of the Companion Animal, Equine and Production Animal markets in which we operate and the regulations that govern them. More than 20% of our people are qualified vets.

Customer relationship

The relationships with the individual vets and veterinary groups that are our core customers are key and our sales force has extensive experience and knowledge of their markets and products to support the needs of these customers.

Partnerships

The Group has developed a series of partnerships that help support the success and smooth running of the business. These range from joint ventures that strengthen our pipeline and commercialisation agreements that increase the reach of innovative products through to long-standing relationships with contract research and manufacturing organisations.

Balanced portfolio

Animalcare operates a portfolio of around 200 brands with particular strengths in our core therapy areas of pain management, allergy and non-antibiotic anti-infectives. We continue to increase the quality of our portfolio through the development of novel differentiated products and a focus on a smaller number of bigger, higher margin brands.

Financial platform

Critical to our future growth is the further development of our product portfolio. Our solid financial platform, with improved cash generation and reduced net debt, enables us to increase investment and leverage our stronger base to deliver future growth and value to our shareholders

Our core activities combine to create sustainable growth and long-term value for our stakeholders

  • We develop and commercialise novel pharmaceutical products for the animal health market. These are developed in-house, acquired from other companies or in-licensed from partners.
  • Outside our direct markets we seek to commercialise our own products through international partnerships.
  • We manufacture our products through a network of specialist contract manufacturing organisations.
  • We manage an extensive international supply chain, including specialist veterinary wholesalers.
  • Through our close relationship with stakeholders and our sales and marketing capabilities we sell products to veterinary practices and veterinary groups.
  • The cash we generate from these activities helps fund investment in our pipeline of new products and supports the continuing development of our sales and marketing capabilities

Employees

Employees benefit from the ability to improve their skills and work in a challenging and expanding international organisation.

Customers

Animalcare seeks to provide a choice of innovative and trusted products and services to support veterinary professionals and other stakeholders. Our agile business model and close customer relationships help ensure we are aligned with the changing needs of our markets.

Keepers of animals

Our veterinary products and services help maintain or improve the health and well-being of animals across our markets. That brings huge benefits to owners and wider society.

Suppliers

The Group does not own manufacturing assets so it works with third-party manufacturers to supply finished products. We engage with suppliers to develop and maintain trusting long-term relationships and to create mutual value.

Partners

Our partnerships are wide ranging in scope and help ensure the success and effective operation of our business. We create value through long-term collaborations on mutually agreed terms.

Shareholders

Through execution of our growth strategy, we aim to consistently deliver a strong financial performance for our shareholders and generate attractive returns over the long term.

Agility

Our agility, expertise and local knowledge means we know our markets and are able to adapt to evolving needs.

Trust

We have built trusted relationships with individual veterinary practices and larger veterinary groups.

Innovation

We are increasingly focused on differentiated therapies that can meet the needs of our customers while delivering sustainable above-sector growth.

Partner of choice

We are positioned as a preferred international partner for companies that want to develop new treatments or bring their innovative products into the European marketplace.

Our geographic presence

We have a direct commercial presence in seven European countries and export to around 40 countries in Europe and worldwide. Animalcare is also a partner for companies looking to sell products into and across Europe.

This map depicts the revenue % by country:

86%

Our operations

14%

Our network partners

Our geographic presence

We have a direct commercial presence in seven European countries and export to around 40 countries in Europe and worldwide. Animalcare is also a partner for companies looking to sell products into and across Europe.

This map depicts the revenue % by country:

86%

Our operations

14%

Our network partners

our strategic priorities

Strong finances

Key leadership

Growth portfolio

Business development

Innovative pipeline

Strong finances

Key leadership

Growth portfolio

Business development

Innovative pipeline