Full Year 2024 Benchmark Holdings PLC Earnings Call Transcript
Key Points
- Benchmark Holdings PLC (BHCCF) has concluded a strategic review and signed an agreement to sell its genetics business to Novo Holdings, which is expected to strengthen the company's financial position.
- The sale of the genetics business will enable Benchmark Holdings PLC (BHCCF) to pay down expensive debt and return significant capital to shareholders.
- The company has managed to reduce operating costs by 15% throughout the year, demonstrating effective cost management.
- Advanced Nutrition showed resilience with a 5% growth in constant exchange rate despite challenging market conditions in the shrimp industry.
- The health business is now positioned as a smaller, profitable, and cash-positive entity, with strong sales from Salmosan and Purisan products.
- Benchmark Holdings PLC (BHCCF) experienced a 7% reduction in total group revenue in constant exchange rate compared to the previous financial year.
- The health business saw a 41% decline in revenue due to restructuring and the exit of Ectosan and CleanTreat from the market.
- The company reported an operating loss for the year, partly due to impairments totaling GBP15.3 million.
- The shrimp market remains challenging with low farm-gate prices affecting customer demand and product mix, leading to lower margins.
- The company anticipates a soft Q1 for the next financial year due to continued challenging trading conditions and the loss of a significant customer in Venezuela.
Good morning to all of you and welcome to this year-end presentation for Benchmark. I am Trond Williksen, and as usual, I'm here together with our CFO, Septima Maguire. And we are going to take you through the financial and operational results for the full year, but also the last quarter of our financial year '24.
And we are following the normal program starting with the highlights. And moving over to more granularity of the business areas, Septima will go through the financials in detail before we end with sharing our view on the outlooks for the company from where we stand today and in the quarters and the time that we have ahead. At the end, of course, there will be an opportunity for Q&A as usual but start off with the headlights of the year.
Financial year '24 has been a special year for Benchmark, a year of considerable change in the business, a year where we have managed but also now concluded a strategic review, and a year where we have experienced market headwinds for a significant part of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
