Vimian Group (VIMIAN) Jefferies London Healthcare Conference 2024 summary

Business overview and market position

• Operates in animal health, focusing on niches with unmet medical needs, serving over 15,000 veterinary practices and 2,000 labs globally.

• Achieves double-digit annual growth, present in 80+ markets, with 40% revenue from the U.S., 50% from Europe, and 10% from Asia-Pacific.

• Organized into four segments: specialty pharma, MedTech, veterinary services, and diagnostics, with specialty pharma as the largest.

• Built through 53 acquisitions since 2016, combining anchor companies with tuck-in deals.

• Focuses on organic growth, supplemented by targeted M&A, aiming to create global leaders in select niches.

Growth strategy and innovation

• Drives growth through cross-selling, education of veterinarians, and expanding treatment options for animals.

• Prioritizes innovation to address chronic conditions and simplify clinical procedures, especially in specialty pharma and MedTech.

• Expands reach by ensuring non-prescription products are available across all channels, including online and retail.

• Maintains a clear M&A roadmap, seeking anchor assets for further tuck-in acquisitions and scale efficiencies.

• Emphasizes sustainability across animal welfare, environmental impact, and employee development.

Financial targets and operational focus

• Sets a 2030 target of €300 million Adjusted EBITDA, to be achieved via organic double-digit growth, margin expansion, and strategic acquisitions.

• Limits leverage to a maximum of three times during growth.

• Recent Q3 performance showed double-digit growth and 20% Adjusted EBITDA increase, with improved cash flow.

• Working capital stands at €84 million on €350 million revenue, with plans for gradual, sustainable reduction.

• Focuses on operational efficiencies, cash generation, and leadership development to support ongoing integration and growth.