Consolidated sales of the Ceva Group reached $782 million in 2012, up by 14 percent in 2011 and 10 percent at a constant perimeter and exchange rates.
Growth was driven through further concentration on key products and was helped by the company’s early decision to enter emerging markets. The growth was almost entirely organic, reflecting the strength of Ceva’s broad-based portfolio of products.
The biology business continued to grow, up by 29 percent in a market that also grew by an estimated 10 percent . Following the success of its Gumboro vaccine, Transmune IBD, the company launched Vectormune ND. The two products can be administered as a single dose in the hatchery giving life-long protection against 3 major poultry diseases: Newcastle, Gumboro and Marek’s disease.
The pharmaceuticals business recorded growth of major brands in major markets. Vectra (companion animal parasiticide) sales grew 34.5 percent in the US, an achievement given the intensity of competition in this segment and the company’s decision to support “vet only” sales. Feliway and Adaptil continued to drive expansion of the behavior segment, growing 30.4 percent. Cardalis, a unique “double blockade” treatment for dogs with cardiac conditions, obtained a centralized market authorization in 27 European countries.
Ceva’s drive into emerging markets had high results posted in Russia (26 percent), Turkey (17 percent), Mexico (18 percent), with the majority of countries in Asia also recording double digit figures.
The group continued to invest in its industrial base, total spending was up 30 percent to support the addition of new products and incorporate the latest technologies.
R&D spending was once again equivalent to more than 9 percent of sales. The company also acquired the IP rights to a number of novel technologies and advanced manufacturing techniques that will continue to build innovative products for the future.
Ceva Chairman and CEO Marc Prikazsky said, “2012 demonstrated how dynamic our innovative business model is. In a challenging global economic climate, our teams were able to continue to deliver some exceptional results. More than ever, there is no ‘one fit’s all’ solution. As we enter 2013, we will have to fight hard to maintain our position in markets affected by economic downturn, whilst continuing to drive hard into emerging markets where the growth opportunities are still significant.”
