Q4 2022 Results - Strong end to FY22 continuing track record of consistent delivery

30 Nov 2022 08:00 CET

In compliance with the terms of the Company’s unsecured green bond which
requires it to publish quarterly financial information, Benchmark, the
aquaculture biotechnology business, announces its unaudited results for the 3
months ended 30 September 2022 (the “period”). All Q4FY22 and Q4FY21 figures
quoted in this announcement are based on unaudited accounts.

This morning the Company published its full year audited results for the 12
months ended 30 September 2022 which can be found on
https://www.benchmarkplc.com/investors

Highlights – strong end to the year
• Revenues £42.8m, 15% ahead of the prior year (+6% CER) with growth across all
business areas:
o Genetics – revenues 15% above Q4 2021 (+11% CER) driven by higher sales of
salmon eggs
o Advanced Nutrition – revenues 10% above the prior year (-6% CER) driven by
commercial focus and continued innovation
o Health – revenues +31% above Q4 2021 (+31% CER) driven by increased sales of
Ectosan Vet and CleanTreat
• Adjusted EBITDA of £8.8m, 23% ahead of last year driven by higher sales,
operational efficiencies and continued financial discipline
• Adjusted EBITDA excluding fair value movements from biological assets 57%
ahead
• Refinancing of NOK850m secured bond through the issue of a NOK750m unsecured
green bond
• Post period end, refinancing of $15m RCF with a £20m RCF expiring in June 2025
• Cash of £35.1m and Liquidity of c £51.1m (cash and available facility) as at
29th November 2022

More information:
Access the news on Oslo Bors NewsWeb site

577002_Quarterly interim statement September 2022 v5 final.pdf