Animal Nutrition

Huvepharma set to list on Euronext

The company’s diversified product portfolio includes high margin areas in enzymes, coccidiostats, feed additives, veterinary products and vaccines.

It claimed consistent sales growth over the past three years, with revenues of €588m and an EBITDA of €167m in 2020. The EBITDA margin was 28.4%, reported the Sofia based group.

In terms of this year’s financial results to date, Huvepharma confirmed that, for the three months ended March 31, 2021, the group’s revenue increased by 11.2% compared to the three months in the year prior, with all segments seeing positive growth.

“The sale of feed additive products was particularly boosted by the rollout of Monimax in Europe and Monovet in the US. The revenue generated from sales to the rest of the world increased by 30.9% as customers shifted supply from Asia to Huvepharma as a more reliable supplier during the pandemic.”

It has three manufacturing facilities and two blending sites in Europe, plus another five mixing and blending sites in the US. And, following the 2019 completion of its new plant in Peshtera, Bulgaria, it has total fermentation capacity of over 10000 m3. 

IPO to speed up organic growth 

Kiril Domuschiev, CEO of Huvepharma, said the animal health player is now at the next stage of its development:

“The IPO will further accelerate the company’s organic growth and new product developments, and also increase the company’s ability to acquire or license new products or technologies, reduce our leverage, as well as enable us to further increase our production capacity.