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Virbac Half - year 2026 results A robust adjusted EBIT margin² of 18.8 % , driven by solid organic revenue growth of 7.4 % Press release on September 17 , 2026 , after market close at 5:45 p.m. CEST • • • о H1 2026 delivered a robust revenue growth of + 7.4 % and an adjusted EBIT margin² of 18.8 % at CERS : Revenue growth is coming from both segments : companion animal + 10.0 % and farm animal + 6.7 % with a strong contribution from our Supercharge platforms ( excl . Thyronorm ) which increased by around + 12 % at CERS Solid volume / mix effect of ~ + 5.4 % , completed by price increase of ~ + 2 % Operating margin increased by 0.5ppt compared to H1 2025 driven by a favorable mix effect on the gross margin partially offset by higher operating expenses due to H1 / H2 phasing effects . Consolidated net income increased by + 5.9 % to € 87.1 million Net Debt as of June 2026 up to € 196 million compared to € 173m as of December 2025 mainly driven by usual working capital requirement seasonality 2026 guidance confirmed at the upper end of the range : the strong performance achieved in the first half of the year positions us to target the upper end of our initial revenue growth range ( 5.5 % to 7.5 % at CERS ) and an adjusted recurring operating income margin of around 17 % at CERS in € m HY26 HY25 Évolution Revenues 768.0 738.3 4.0 % Change at constant exchange rates¹ 7.4 % Change at constant exchange rates and scope¹ 7.4 % EBIT Adjusted ( before amortizations² ) 144.2 135.0 6.8 % as a % of revenue 18.8 % 18.3 % 0.5 p.p as a % of revenue at constant rates 18.8 % na na as a % of revenue at constant exchange rates and scope 18.8 % na na Amortization of intangible assets from acquisitions ( 5.3 ) ( 2.6 ) EBIT Adjusted 138.8 132.4 103.0 % 4.9 % Non - recurring ( expenses ) and income ( 5.6 ) EBIT 133.3 132.4 0.7 % Consolidated net income 87.1 82.2 5.9 % Other financial indicators Shareholders ' equity - Group share Net debt³ Operating cash flow before interest and taxes4 1 217.1 195.9 173.0 1 065.1 14.3 % 172.8 13.4 % 164.0 5.5 % ' Change at constant exchange rates and scope corresponds to organic sales growth , excluding exchange rate variations by calculating the indicator for the current and prior periods using identical exchange rates ( the exchange rate used is that of the prior period ) , and excluding material changes in scope by calculating the indicator for the current period based on the prior period's consolidation scope . No material scope changes impacted H1 2026 compared to H1 2025. Due to its low materiality , the Thyronorm acquisition has been included in the 2026 organic scope ( constant perimeter ) . ZEBIT Adjusted ( before amortizations ) corresponds to " recurring operating income before amortization of assets arising from acquisitions " . 3Net debt corresponds to current ( € 111.5 million ) and non - current ( € 213.5 million ) financial liabilities , as well as the lease liability related to the application of IFRS 16 ( € 42.0 million ) , less cash and cash equivalents ( € 171.1 million ) as published in the statement of financial position . " Operating cash flow corresponds to the EBIT adjusted before amortizations of asset arising from acquisitions ( € 144.2 million ) restated for depreciation & provisions ( € 24.5m - amortizations from acquisitions adjusted ) , non - cash items ( € 0.9m ) and impacts related to disposals ( € 3.4m ) . The financial statements have been audited by the statutory auditors and were reviewed by the Board of Directors on September 17 , 2026. The financial statements and the detailed presentation of the annual results are available on the corporate.virbac.com website . Virbac : Euronext Paris - subfund AISIN code : FR0000031577 / MNEMO : VIRP Financial Affairs department : tel . +33 4 92 08 71 32 - email : finances@virbac.com - Website : corporate.virbac.com