Eco Animal Health Share Discussion Threads

[cerrito] 08/1/2024 08:51

Seems very sensible selling these properties.

[ariane] 08/1/2024 07:35

8 January 2024

ECO Animal Health Group plc

("ECO" or the "Company")

Disposal of Freehold Properties

ECO Animal Health Group plc (AIM: EAH) announces that on 5 January 2024 the Company completed the sale of its freehold property in New Malden, Surrey. This was the former registered office of the Company and following relocation of all functions to its office in Southgate, London, the office was surplus and unused. The net consideration received for the sale of this property was GBP831,454. The carrying value of the property was GBP565,000.

Additionally, on 28 November 2023, the Company's freehold property at Western Road, Mitcham was sold to its long term occupier (an education charity) for net consideration of GBP227,000. This matched its carrying value and the previous rent payable was a peppercorn.

The total cash received from these two property sales was GBP1,058,454 after fees and expenses.

The Board intends to use the majority of the net proceeds to advance the growth aspirations of ECO. In due course, the Board also intends to use some of the proceeds to purchase ordinary shares of the Company in the market to cover possible future vesting of employee share-based incentives including share options, long term incentive plans and the deferred bonus scheme. In order to carry out such market purchases, the Company will need to seek approval from shareholders in a general meeting.

[edmonda] 08/12/2023 12:07

New research report & audio summary:

"Interim results generate more cash"

For the six months to 30 September ECO Animal Health reported revenue of £38.0m, +9%YoY, and (adj.) EBITDA of £0.7m (H1 22: £1.7m). Underlying currency-adjusted revenue growth was 15%YoY. Cash generated by operations of £4.8m compared to £3.0m a year earlier resulting in a period-end cash balance of £20.6m (H1 22: £12.9m). The loss per share was (1.93)p; (H1 22 1.95p). The gross margin at 40.8% contrasted with 45.3% in H1 22; we expect an H2 improvement based on sales mix and clarity of revenue outlook (the Group notes that 94% of market consensus outlook is covered by the order book and stock run rate), abetted by the traditionally strong demand in the northern winter months.

The combination of strong H1 performance in key markets (combined +19.6%YoY), continued strong cash generation and the seasonal nature of second half performance means that our full year FY24 and subsequent FY25 outlook is maintained.

On the basis of our FY24 and FY25 ECO Animal Health EBITDA outlook, and the peer group average EV/EBITDA multiple, the Group Fair Value indicated range is 137p – 146p per share.

[mr macgregor] 05/12/2023 10:21

You can see why EAH are deflecting from China.

[maywillow] 28/11/2023 20:40

Upcoming events on ECO Animal Health Group plc



2023-Nov-29 10:00 am Q2 2024 Earnings Call



Investor Presentation covering Interim Results

ECO Animal Health Group plc, a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, is pleased to announce that David Hallas, CEO, and Christopher Wilks, CFO, will be conducting a live presentation covering the Group's interim results for the period ended 30 September 2023.

The online presentation will take place on Wednesday 29 November at 3.00pm UK time. This event is open to all existing and potential shareholders and registration is free. Questions can be submitted during the presentation and will be addressed at the end of it.

[cerrito] 28/11/2023 20:31

Having a look at the interims before the call tomorrow. You are right Mr Macgregor to point out that they are delphic in their silence on China. Good to read about good cash balances ex China. 
Good for them for spelling out so clearly where the cash is located and go bing us their understanding of current market consensus.I note that full year revenue forecast of £88m suggests H2 revenue of £50m broadly on a par with H2 22/23.The full year adjusted Ebitda of £7.7m suggests a H2 figure of £7m, compared to £5.6m in H2 22/23.Good if they can do it.I am not a great fan of ebitda, especially if adjusted. I see here that the I is negligible, but I see the d&a was £2.3m in the last FY and £1.2m in H1 of the current FY. The issue is tax, with a 93pc effective tax rate in H1, albeit 32pc in the last financial year.I note that Singers have reconfirmed the target price of 268p. If their R&D efforts pay off perfectly possible  they get to this figure but we may well have to wait till calendar  2026 at the very earliest. The 2.5p  Share price increase this week seems fair enough and as long as none of the major shareholders lose patience, we should avoid going into double figure territory. On that note since February we have only has 2 TR-1 notices and on both cases it was for an increase in holding(L Odier and Schroders). Incidentally they talk about API and I had no idea what they were talking about till I read in my notes it is the secret sauce for Aivlosin. 

[mr macgregor] 27/11/2023 18:14

You forgot this bit:
"The Board looks forward with cautious optimism to reporting the full year numbers in line with market expectations"

Why only cautious?
Cash up but decrease in net assets.
Studious avoidance of any mention of the trading outlook for their key Chinese market, though lots of deflection onto R&D.

[ariane] 27/11/2023 07:21

Outlook

The Group expects that the historically observed increased demand for Aivlosin (R) associated with the Northern Hemisphere winter will once again result in a stronger second half to our year.


94% of the market consensus revenue* is covered by year-to-date revenue, order books and run rate from the Group's stocking locations.


Additionally, the first half currency headwinds have normalised and the phasing and mix of revenues, inventory usage and costs all support the forward profitability view.


The Board will continue during the remainder of this financial year to invest in our extremely exciting new product pipeline.

[edmonda] 13/11/2023 10:18

Capital Markets Day (November 2023) - Investor Presentation (video recording now available)

ECO Animal Health held a Capital Markets event focused on progress and developments in the the company's Research & Development portfolio pipeline.

A series of specialist speakers took investors through six key products and the transformative impact the successful execution of their portfolio will have on their valuation.

The full video has been dividend into chapters, for ease of viewing, as below:
0:00:03 Introduction and Strategy overview (Dr David Hallas, CEO)
0:04:21 R&D Overview, Strategic Approach and Portfolio (Dr. Hafid Benchaoui, Head R&D)
0:21:06 Importance of Mycoplasmas in poultry (Professor Naola Ferguson)
0:36:35 Best in Class Poultry Mycoplasma vaccines (Dr. Natalie Desloges)
0:43:10 Game changing Swine Biologicals (Dr. Brian Martinson)
0:55:37 Innovation in the treatment of swine respiratory disease (Dr. Alphonso Lopez)
1:03:33 Novel approaches to control enteric disease in poultry (Dr. Alphonso Lopez)
1:10:21 Biologicals Production (Dr. Mike Huether)
1:18:11 Portfolio Valuation & Financial analysis (Chris Wilks, CFO)
1:38:13 Summary (Dr David Hallas, CEO)
1:39:58 Questions & Answers

Link here:

[aimspec] 10/11/2023 07:30

Looks like they are dressing the company up for sale. Showing pipeline rev/EBITDA/GM bridge for most products. Clearly frustrated about no NPV assigned from pipeline on share price. On that bridge, company EBITDA 2025 looks materially higher than 2024 which I didn’t understand given limited effect from pipeline products at that stage.

[cerrito] 09/11/2023 23:12

I heard the FD saying that for this year consensus EBITDA is £8.1m, no idea how that compares to last year's adjusted EBITDA of £7.2m
R&D expenditure this year(not told if calendar or financial) will be up at £9.7m plus £827k for the new labs in Des Moines.

[cerrito] 09/11/2023 16:34

Very good presentation and will need to watch the recording.
Good to hear them saying with conviction that they will be able to self finance this programme.
As known all in the future.

[ariane] 09/11/2023 07:59

Eco Animal Health Group PLC

09 November 2023

9 November 2023

ECO Animal Health Group plc

Capital Markets Day Events - R&D Portfolio

ECO Animal Health Group plc (AIM: EAH), a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, is pleased to announce that it will be hosting two Capital Markets events focused on progress and developments in the Company's Research & Development portfolio today, Thursday 9 November 2023.

No new material information will be disclosed at the events.

[waldron] 07/11/2023 20:59

Upcoming events on ECO Animal Health Group plc

2023-Nov-22 Q2 2024 Earnings Release (Projected)

[cerrito] 07/11/2023 20:47

Yes,PUGUGLY,I saw that and here is the link

They mention a company called Muyuan whose shares are down 20pc this year and had to pull a listing on the Zurich stock exchange.
I have to say EAH has been out of sight out of mind for me.
I agree that at macro level is not good news for EAH, although the article does reiterate what we have learnt before that small producers are being squeezed out in favour of larger ones which should help EAH in the long term.
I have registered for the Thursday presentation.
I wondered if we were going to get the interims on Thursday but probably they will come out in 2/3 weeks time nd they are often flagged in advance.

[pugugly] 07/11/2023 08:11

Front page news FT today
"Declining pork prices in China threated to push largest consumer into deflation"
Pork prices in China are now down more than 40% from a year ago

Probably not good news for Eco.

[cerrito] 24/10/2023 12:24

I have signed up for the capital markets day presentation.
We of course and understandably will be blinded by science but I hope we get good info on both the addressable market of each product and the regulatory hoops they have to clear.

[cerrito] 24/10/2023 09:10

Good news but no idea how much this will move the dial in terms of the North American sales which in 21/22 were 20pc of total sales and a lower percentage last year. A question to ask in the ED call which no doubt will follow the interims in a few weeks time and when we will learn if the cautious optimism expressed on July 10 with the Prelims was born out.

[adrian j boris] 24/10/2023 07:44

RNS Number : 0235R

Eco Animal Health Group PLC

24 October 2023


("ECO", the "Company" or the "ECO Group")

(AIM: EAH)

New USA and Canada label claim for Aivlosin(R)

ECO Animal Health Group plc, a leader in the development, registration and marketing of pharmaceutical products for global animal health markets, is pleased to announce that it has received a new US and Canadian label claim indication for Aivlosin(R) Water Soluble Granules ("WSG") in pigs.

Following years of research into the sow reproductive safety of Aivlosin(R) WSG, a new 'sow safety' indication has been approved by the US Food & Drug Administration (FDA). Prior to this approval, the label indication restricted WSG to be used only in the drinking water of swine intended for slaughter and not for use in lactating or pregnant females, or males and females intended for breeding.

The new label indication will be 'For use only in the drinking water of swine intended for slaughter and female swine intended for breeding. Not for use in male swine intended for breeding'.

Meanwhile, the Veterinary Drugs Directorate in Canada has also approved the removal of label statements regarding 'not for use in lactating or pregnant females and females intended for breeding'.

David Halls, CEO, commented: "We are pleased to have received this new label claim approved by the FDA which gives permission for ECO to sell into an additional market segment. This is testament to the continued market development of our products and these new claims and labels further enhance the safety message already used for Aivlosin in pigs."

[waldron] 15/9/2023 09:42

London Stock Exchange 04:04:50 2023-09-15 am EDT

ECO Animal Health Group plc



123.48 GBX +10.25%

[smackeraim] 15/9/2023 08:47

Grumpy is your name I suppose. Let's see