Vetoquinol Universal Registration Document 2019

1 24   Vetoquinol  Universal Registration Document 2019  Financial report PRESENTATION OF THE GROUP Simplified organizational chart 1.9 Simplified organizational chart Section 1.2 provides an overview of the Group’s business. The overall organization of Vetoquinol is centered on the parent company, Vetoquinol SA, which plays the role of Group holding company as well as carrying out a business activity in its own right. Accordingly, the Group’s primary manufacturing plant is situated in Lure, the location of the head office. The Company (Vetoquinol SA) invoices its subsidiaries for sales of the finished products it manufactures. Executive functions are centralized in the parent company, Vetoquinol SA. In 2019, the Vetoquinol Group: • purchased a 90% equity stake in Clarion Biociencias Ltda, thereby significantly strengthening its foothold in Brazil, the world’s third largest animal health market. Vetoquinol has operated in Brazil since 2011 through its subsidiary Vetoquinol Saude Animal and has hitherto focused on developing Essentials products designed for meat and dairy cattle, pigs and pets. Clarion Bio- ciencias has a development pipeline of products for cattle and pets; • established a new subsidiary in New Zealand: Veto- quinol New Zealand Ltd. This move is in line with the Group’s policy to better serve this buoyant and growing market via a local operation and by promoting sales of Essentials products to veterinary clinics in New Zealand.