Benchmark's mission is to enable aquaculture producers to improve their sustainability and profitability
Three critical components in production cycle
Genetics
Best starting point for production
Products
- Salmon eggs
- Tilapia fingerlings
- Shrimp broodstock
- Genetic services for 10+ species
2020 Revenue £41.5m
Advanced Nutrition
First stage nutrition is key to growth and survivability
Products
Early stage nutrition for shrimp and bass/bream
- Live feed (artemia)
- Larval diets
- Probiotics
2020 Revenue £59.4m
Health
Disease is biggest risk and constraint for growth
Products
- Sea lice treatments
- Parasiticides
2020 Revenue £5.2*
*continuing operations
Focus on programme of disposals and cost efficiencies
2020 Financial Headline
| £m | FY20 | FY19 Restated* |
|---|---|---|
| Statutory | ||
| Revenue from continuing operations | 105.6 | 124.0 |
| Loss before tax from continuing operations | (22.6) | (58.5) |
| Loss from continuing operations | (22.8) | (59.1) |
| Loss - total incl. discontinued operations | (31.9) | (83.1) |
| Basic loss per share (p) | (5.26) | (15.03) |
| Net debt3 | (37.6) | (87.1) |
| Adjusted | ||
| Adjusted EBITDA2 from continuing operations | 14.5 | 21.3 |
| Adjusted operating profit from continuing operations | 7.9 | 16.3 |
| Exceptional items | (2.1) | (0.6) |
| EBITDA1 from continuing operations | 12.4 | 20.8 |
(2) Adjusted EBITDA is EBITDA1, before exceptional items and acquisition related expenditure.
(3) Net debt is cash and cash equivalents less loans and borrowings. Net debt includes £9.6m (2019: £nil) relating to lease obligations which are now held on balance sheet following the adoption of IFRS 16.
Revenue split by business area (FY20)
- Genetics
- Advanced Nutrition
- Health