Benchmark’s vision is to be the leading provider of solutions in aquaculture genetics, health and specialist nutrition.
Three critical components in production cycle
Genetics
Best starting point for production
Products
- Salmon eggs
- Tilapia fingerlings
- Shrimp broodstock
- Genetic services for 10+ species
2019 Revenue £39.7m
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
2019 Revenue £76.8m
Animal Health
Disease is biggest risk and constraint for growth
Products
- Sea lice treatments
- Parasiticides
- Vaccine pipeline
2019 Revenue £17.7m*
*includes discontinued operations
Focus on programme of disposals and cost efficiencies
2019 Financial Headline
| £m | 2019 | Restated 2018 |
|---|---|---|
| Revenue from continuing operations | 127.3 | 131.6 |
| Gross profit from continuing operations | 66.0 | 68.5 |
| EBITDA 1 from continuing operations | 11.5 | 17.8 |
| Adjusted EBITDA2 from continuing operations | 12.1 | 19.1 |
| Total Adjusted EBITDA 2 – incl. discontinued operations | 13.7 | 17.0 |
| Adjusted Operating Profit 3 from continuing operations | 3.6 | 14.2 |
| Operating loss from continuing operations | (61.3) | (3.8) |
| Loss before tax from continuing operations | (73.3) | (8.4) |
| Loss for the period from continuing operations | (73.3) | 0.5 |
| Loss for the period - total incl. discontinued operations | (83.1) | (4.4) |
| Basic earnings / (loss) per share (p) | (15.03) | (0.94) |
| Net debt 4 | (87.1) | (55.7) |
(2) Adjusted EBITDA which reflects underlying profitability, is EBITDA before exceptional and acquisition related items — see income statement.
(3) Adjusted Operating Profit is operating loss before exceptional items including acquisition related items and amortisation and impairment of intangible assets excluding development costs.
(4) Net debt is cash and cash equivalents less loans and borrowings.
Revenue split by divisions (FY19)
- Genetics
- Advanced Nutrition
- Health
- Knowledge Services