19 February 2004
Boxmeer, Netherlands, February 19, 2004 – With total sales in 2003 of EUR 1,010 million, Intervet is well positioned to maintain its No. 3 position in the global animal health market despite the economic headwinds that the veterinary sector has been experiencing for the past two years. While full-year 2003 sales trailed those of 2002, excluding the impact of exchange rates Intervet sales actually grew by just under 2%.
In 2003 Intervet maintained its position as a leading animal healthcare company in the European market, where it generated slightly more than 50% of sales. Business performance in Northern Europe was adversely affected by a flat aquaculture market, mainly the salmon market in Norway, and suffered from the effects of an outbreak of Avian Influenza, which temporarily decimated poultry stocks in the Netherlands. A continuing downward trend in the Polish economy and the European pig market further complicated the picture. Intervet performed better than the European industry average in Southern Europe.
On other continents results were impacted by currency effects. In North America this was aggravated by flat market conditions. In the United States, developments in the anti-parasitic segment were encouraging. In Canada the domestic cattle markets were affected by the consequences of BSE, which was in part compensated for by the strong performance of the pig vaccine segment. Markets in Latin America showed encouraging improvement, especially in the second half of 2003, while in Asia the picture was mixed, generally reflecting positive and negative developments in the various national agricultural markets.
Intervet’s R&D strategy continues to focus on product-based innovation. In 2003, Intervet brought numerous new products to the livestock and companion animal health markets. One highlight was the launch of a new vaccine (Nobivac® Bb for cats) against cat flu with proven protection against the respiratory signs associated with Bordetella bronchiseptica. Another milestone was the introduction of a vaccine targeting salmonella, representing a major advancement in efforts to make poultry and eggs safer for the human consumption.
Intervet’s leading position in marker vaccine technology was strengthened with the positive evaluation by the European Commission of our discriminatory test for Classical Swine Fever (CSF) in December 2003. Now an essential tool for use in combination with the corresponding marker vaccines is available should vaccination campaigns be initiated in Europe to combat outbreaks of CSF.
Note for the editor:
Intervet, a business unit of Akzo Nobel, headquartered in Boxmeer, the Netherlands, with sales of EUR 1,010 million in 2003, is dedicated to research and development, production and marketing of innovative animal health products and feed additives. Intervet's product range for use in livestock, companion animals, poultry and fish includes vaccines, anti-parasitics, anti-infectives, endocrine products and other pharmaceutical specialities, diagnostics and feed additives. Intervet operates globally with its own marketing organizations. The company currently employs around 5,000 people.
Internet: www.intervet.com
Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2003 totaled EUR 13 billion. The Company currently employs approximately 64,500 people in more than 80 countries. The 2003 annual report in English will be available on the internet from February 9, 2004. Financial results for the first quarter will be published on April 20, 2004.
Internet: www.akzonobel.com
For further information please contact:
Sabine Schueller
Communications & Public Affairs
Intervet International bv
Tel: +31 (0)485 587085
Fax: +31 (0)485 585392
communications@intervet.com
