- Full-year 2025 revenue reached €1,465m :
- +7.9% at constant exchange rate and scope (CERS) vs 2024
- +4.8% at actual rates impacted by significant currency headwinds, particularly in Latin America, IMEA and the Pacific.
- Strong companion animal growth of +10.9% and farm animal of +6.1% at CERS
- Solid volume/mix effect of ~+5%, completed by price increase of ~+3%
- Excellent performance in 2025 in the USA (+14.7% at CERS), followed by IMEA (+9.5%), Latin America (+7.5%) and Europe (+7.5%). Sustained growth also in Far East Asia (+3.3% excl. Sasaeah)
- Pacific is stable in 2025 compared to last year but shows a rebound in Q4 2025 with +14% growth
- 2026 guidance: (incl. Thyronorm acquisition impact) : revenue growth expected to be between 5.5% and 7.5% at constant rates and scope. Adjusted recurring operating income1 expected around 17%
Paul Martingell, Chief Executive Officer statement:
“2025 has been another year of positive momentum for Virbac, finishing with a strong 7.9% organic growth, demonstrating our robust portfolio and operating model.
Since joining in September, I have been moved by the incredible passion our teams and partners have for animal health. This year’s performance—driven by 10.9% growth in our companion animal segment and the successful launch of breakthrough innovations like Vikaly, the world’s first medicated petfood —is a testament to that commitment.
We continue to invest in our future through strategic moves like the acquisition of Thyronorm, which brings an innovative solution for feline health into our portfolio and as we look toward 2026, we remain dedicated to our mission, supported by a record investment in R&D and our industrial sites to advance the health of animals, with those that care for them”
| in €m consolidated not audited | 2025 | 2024 | Actual rates |
Change at CER2 |
Change at CERS3 |
| Q1 Revenue | 375 | 346 | 8.5 % | 9.5 % | 4.9 % |
| Q2 Revenue | 363 | 357 | 1.7 % | 6.1 % | 6.1 % |
| Q3 Revenue | 364 | 339 | 7.3 % | 12.3 % | 12.3 % |
| Q4 Revenue | 362 | 355 | 1.9 % | 7.1 % | 7.1 % |
| Revenue | 1 465 | 1 397 | 4.8 % | 8.7 % | 7.9 % |
1Adjusted recurring operating income corresponds to “recurring operating income before amortization of assets arising from acquisitions”.
2CER: at constant exchange rates. This change is calculated on the actual scope of consolidation, including scope impacts arising from acquisitions (Sasaeah), for which the indicator in question is calculated on the basis of the previous year’s exchange rate
3CERS: constant exchange rates and scope corresponds to organic growth of sales, excluding exchange rate variations, by calculating the indicator for the financial year in question and the indicator for the previous financial year on the basis of identical exchange rates (the exchange rate used is the previous financial year), and excluding material change in scope, by calculating the indicator for the financial year in question on the basis of the scope of consolidation for the previous financial year
Q4 sales by geography
Our fourth-quarter consolidated revenue amounted to €362 million, representing a strong growth of +7.1% at constant exchange rates and scope compared to the same period in 2024 and +2.1% at actual rates given the significant currency headwinds over the period. This solid organic quarterly performance is mainly driven by Europe, IMEA and Pacific partially offset by Far East Asia.
| in €m consolidated not audited | 2025 | 2024 |