March 13, 2020
Ceva returns to strong double-digit growth in 2019 and reveals plans to double sales by 2025
Consolidated sales of the Ceva Group reached more than US$1.34 billion in 2019 as the company returned to strong double-digit growth (+14.6%).
The start of 2020 was marked by the renewal of its shareholding structure with new long-term partners investing alongside management and historic minority investors with the aim of ensuring the continued independent development of the group.
In 2019, Ceva posted growth of 14.6% (AER) on the previous year (10.4% CER), with sales of more than 1.2 billion EUR (~US$1.34 billion; 1 EUR = US$1.12). In 20 years, the French-based multinational has multiplied its sales by 10 times. Today, the group is directly present in 46 countries, and recorded growth in all geographical zones: Europe +14%, Africa/Middle East/Eastern Europe/Turkey/Russia +17%, North America /Pacific +21%, Latin America +24% and Asia +3%.
All species grew, with the strongest performance in poultry (+22%), followed by swine (+13%), companion animals (+9%) and ruminants (+7%).
New Ambition 2025 plan: focuses on a virtuous circle of growth to double sales
Ceva recently concluded its 5th finance round with four new strategic investors (TéthysInves - France, PSP - Canada, Mitsui - Japan, Klocke Gruppe - Germany) investing alongside management. This round of financing will give the group all the resources it requires to continue its exponential growth and double sales by 2025.
Continued investment in R&D and industrial centres
The group invested close to 11% of its sales in R&D during 2019, as it gets closer to its stated objective of achieving a 50:50 split between vaccine and pharmaceutical sales. To achieve this, it also invests over 100 million EUR (~US$111 million) each year in its industrial facilities around the world. Some of the highlights during 2019 included:
· The completion of a Global centre for innovation of companion animal products at the Ceva Laval Campus, France.
· The creation near Angers, France of the first reference site in Europe for the design and manufacture of veterinary autovaccines (inauguration H1 2020)
· The development of a new Global Innovation Centre for swine vaccines in Dessau, Germany
Dr. Marc Prikazsky, Ceva president and CEO said the company invested nearly 11% of its sales revenues in R&D to support its innovation strategy. The company completed the construction of the Ceva Laval Campus, a new global innovation centre for companion animals based in Laval, France, all of which give Ceva a strong base as the company entersits new Ambition 2025 strategic plan.
He added that another key event that marked 2019 was the acquisition of the veterinary activities of IDT Biologika in Germany, which has allowed Ceva to strengthen its expertise and R&D in swine vaccines. He is delighted at how quickly the new campus in Dessau has become part of Ceva.