Consolidated sales of the Ceva Group reached €766m at the end of 2014, representing growth of 23% and +14.1% at a constant perimeter and exchange rates. Sales grew in all zones and across all species with particularly strong performance being recorded in companion animals (+17.3%) and poultry (+14%).
The group delivered an operational result slightly ahead of the budgeted objective but also continued to make significant investment in R&D where spending exceeded 9% of sales. The integration of Sogeval proved to be a major success with the creation of a new Ceva Sogeval campus in Laval, France and significant growth in sales (+21%) in France of the joint business.
Marc Prikazsky, Ceva’s Chairman and CEO commented, “The consistency in our performance is particularly pleasing and stems from our innovative pipeline of products that should continue to drive growth in the years ahead. I’m delighted by the way we were able to integrate Sogeval into the group, with minimal disruption and indeed a very strong result in France.”
Related topics: Ceva earnings