ECO Animal Health has built its reputation based on a successful, but tightly focused, antimicrobial product range: Aivlosin® has underpinned commercial revenues and delivered an international footprint through direct and distributed sales. A pivot towards vaccine development now broadens the outlook and could accelerate revenues significantly while driving margin expansion and underpinning future cash generation. Meanwhile, on forward EV/EBITDA multiples of c7x in FY25, falling to c6x FY26E, EC ....
