Animal health specialist Virbac reported better-than-expected annual sales and adjusted operating profit on Tuesday, with favorable pricing and product mix supporting margins.

Sales amounted to €1.25 billion in 2023, up 4.9% at constant exchange rates and scope of consolidation, while the group was targeting growth of around 4%.

Its ratio of operating income recurring before amortization of assets acquired through acquisitions (adjusted Ebit) to sales came to 15.3%, against Virbac's expectation of around 15%.

The Group also confirmed its financial targets for the current year and for 2030. (Written by Dagmarah Mackos, edited by Kate Entringer)