Virbac SA announced unaudited consolidated sales results for the fourth quarter and full year of 2017. For the quarter, the company's consolidated sales in the fourth quarter totaled EUR 231.5 million, an increase of 2.6% (7.8% at constant exchange rates) compared to the same period in 2016, a period which also registered a high level of sales. All areas showed positive organic growth over the period, including double digit growth outside of the United States and Europe, driven by sustained activity in India, Australia, Chile, Brazil and Mexico. Europe registered positive organic growth (2%).

For the annual year-to-date, the company's sales totaled EUR 861.7 million compared to EUR 871.8 million last year, a slight decrease of 0.6% at constant exchange rates (1.2% at actual rates).

In 2017, the Group's adjusted current operating profit, should be, as expected, around the same level as in 2016 as a ratio on sales at constant exchange rates, while debt reduction continued over the second half of the year, impacted favorably by the Euro-dollar exchange rate, which should result in a greater than expected annual debt decrease. The group's net debt to EBITDA ratio is expected to be below the financial covenant of 4.75, as negotiated with the Group's partners for December 2017.