Proposed Directors of Tirupati Graphite explain why they have requisitioned an GM. Watch the video here.
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Trond Williksen, CEO, and Septima Maguire, CFO of Benchmark Holdings hosted an Investor Presentation following publication of their Q2 / Interim results for the period to 31 March 2024.
Watch the full presentation for more details on period highlights, which included positive momentum in Genetics and Advanced Nutrition partially offset by Health and forex headwinds. Management provided a detailed update on operational performance per division, a Financial overview and an update on Outlook. Finally there was a Question & Answers session.
The video has been divided into chapters, as below:
0:00:03 Introduction
0:01:44 Overview of Q2 & period highlights
0:05:47 Operational Update - Genetics
0:16:00 Operational Update - Advanced Nutrition
0:20:55 Operational Update - Health
0:26:25 Financial Update
0:33:47 Outlook
0:36:36 Questions & Answers
Link to full video: https://www.equitydevelopment.co.uk/research/benchmark-holdings-investor-presentation-may-2024-q2-/-interim-results
Benchmark Holdings plc (AIM: BMK, Euronext Growth Oslo: BMK), the aquaculture biotechnology business, will be conducting an investor presentation following publication of their Q2 and Interim results for the three and six month periods ended 31 March 2024.
The online event will be hosted by Trond Williksen, CEO, and Septima Maguire, CFO, and will take place at 12.30pm on Wednesday 22nd May.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end.
Link to register: https://www.equitydevelopment.co.uk/news-and-events/benchmark-investor-presentation-22may2024
Trond Williksen, CEO, and Septima Maguire, CFO of Benchmark Holdings hosted an Investor Presentation following publication of their Q1 results for the period to 31 Dec 2023. Revenues were £40.5m for the quarter, 26% below a particularly strong Q1 FY23, but 11% above Q4 FY23, maintaining quarterly momentum.
In Genetics, management discussed solid performance in the core salmon business and progress in growth vectors. In Advanced Nutrition, the company posted strong performance in Europe and in the Health division significant steps have been taken to transition to new business model for Ectosan® Vet and CleanTreat®.
Watch the full presentation for more details on period highlights and operational performance per division, including a Financial overview and an update on Outlook. The video has been divided into chapters, as below:
0:00:03 Introduction
0:00:36 Overview of Q1 & period highlights
0:05:40 Operational Update - Genetics
0:13:28 Operational Update - Advanced Nutrition
0:17:47 Operational Update - Health
0:23:46 Financial Update
0:30:26 Outlook
0:33:23 Questions & Answers
Link to video: https://www.equitydevelopment.co.uk/research/investor-presentation-q1-results-february-2024
I guess major shareholders believe The Company is worth (much?) more that The Market valuation. IMHO, they are right.
Benchmark Holdings plc, the aquaculture biotechnology company, will be conducting an investor presentation following publication of their Q1 results for the three month period ended 31 December 2023.
The online event will be hosted by Trond Williksen, CEO, and Septima Maguire, CFO, and will take place at 12.00pm on Thursday 15th February.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end.
Register here: https://www.equitydevelopment.co.uk/news-and-events/benchmark-q1-investor-presentation-15february2024
The management of Benchmark Holdings discussed revenue growth and improved profitability for the full year. They touched on the focus they've put into turning around the genetics business in Chile, alongside ameliorating the capital cost of running the CleanTreat boats and driving further take up of Ectosan. The team also provided a detailed financial update, commentary on the 2024 outlook, and answered a range of questions submitted by viewers.
Benchmark Holdings plc is an aquaculture biotechnology company and the presenters are Trond Williksen, CEO, and Septima Maguire, CFO.
The full video has been divided into chapters, as below:
0:00:42 Highlights of FY / Q4
0:08:44 Operational Update: Genetics
0:15:05 Operational Update: Advanced Nutrition
0:17:33 Operational Update: Health
0:21:31 Financial Update
0:33:00 Outlook 2024 & summary of Benchmark
0:39:39 Questions & Answers
Link to video: https://www.equitydevelopment.co.uk/research/benchmark-holdings-investor-presentation-fy-results-29-november-2023
3 months on and looking at ED's forecast for 2024 and 2025 no sign of reduced amrortisation per Christopher Mills. The BS shows £153m on the books so called "aggressive" amortisation has 7+ years to run!
The improvement in FCF forecast is happening however. That's a positive. But that cash has a tall mountaian of debt to tackle. 63p fair value seems a distant possibility.
Link to note:
https://www.equitydevelopment.co.uk/research/fy-23-results-consolidation-and-cash-generation
For the year to 30 September 2023, Benchmark Holdings reported revenue FY23 of £169.6m, +7.5%YoY (currency adjusted +7%YoY) which was 0.7% below our outlook, and adjusted EBITDA of £35.5m, +9%YoY, 5% above our outlook. Net operating cash of £20.0m was almost double FY22 (£10.8m) with a notable improvement in working capital management from £(12.0)m to £(1.0)m underlining efforts to control costs and improve operational efficiency. Net debt was £45.6m, with year-end cash at £36.5m.
The Group reports Genetics operations at normalised levels, early signs of a recovery in shrimp markets positive for Advanced Nutrition, and in the Health segment improved Q1 24 demand visibility with Clean Treat® at improved capacity utilisation. Most significantly, in FY23 the Group exhibited discipline in cost and cash management which establishes a sound platform for growth in FY24.
We revise down our FY24 revenue outlook by -6% and for FY25 by -7% principally due to a 24% reduction in the outlook for Health. For (adj.) EBITDA the adjustments are -4% in FY24 but +3% in FY25, indicative of continued improvements expected in operational efficiency. We maintain our fair value at 63p/share.
Benchmark Holdings plc, the aquaculture biotechnology company, will be conducting an investor webinar following publication of their Full Year results for the year ended 30 September 2023.
The online presentation will be hosted by Trond Williksen, CEO, and Septima Maguire, CFO.
This event will take place at 12.00pm on Wednesday 29th November.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end.
Link to register: https://www.equitydevelopment.co.uk/news-and-events/benchmark-investor-presentation-29november2023
Christopher Mills of Hardwood speaks highly about BMK on sounds like pox but it has a V:
https://www.poxmarkets.co.uk/media/647f39eb98d6cd096c6505fc/?context=/listings/LON/BMK/multimedia/
Says he: "The business is in a pretty good place". "The accounts are quite complicated and it appears to lose money - the reason being that they have been aggressively amortising by £25m a year - but going forwards they aren't - there's only £6m-£8m amortisation"
Well if that's the case, I can't see anything about that in the interims nor in the Q3 announcement nor apparently did Equity Development get that memo either because their forecast INCREASES not decreases amortisation/depreciation by £10m in 2024!
Having said that the forecast is brighter for BMK. The business is forecast to be at a near break even in 2024 and operating FCF jumps from near zero in 2022 to £10m forecast in 2023 and £31m forecast in 2024. Hopefully that helps a rerate. C Mills is a smart guy and he can see something here.
Meanwhile it's a slow painful journey and while Equity Development, too, do paint a positive in that the YOY is a positive, for me that's like 2 steps forward and 1 step back - but we're a step ahead overall. The negative Q3 came out of nowhere and that's the problem with this company - the accounts are complicated, seems to pay a lot of tax and depreciation and while - like Mommur - it plucked at my heartstrings too, commercially it's not been great - and don't feel the conviction that I'll see any improvement soon. Also while they are maintaining their AIM listing for now, if they delisted from AIM holding a Norwegian share is a hassle.
I'd take 63p too. But fair value feels a fair way off.
Writing about BMK makes me realise I probably need to sell it sooner than it reaching 63p.
I just cannae see it after 3 years as a sound investment. It plucked my heartstrings as did my other tiddler, Renaltyx and are great little companies with niche products. Fair value of 63p - my thats heady but i would take it!!!
For the three months to 30th June 2023, Benchmark Holdings reported revenue of £34.3m, -5.5%YoY (currency-adjusted -1%YoY), as 10%YoY growth in Genetics (42% of total) was offset by the impact of reduced demand in global shrimp markets, resulting in a 17%YoY decline in Advanced Nutrition revenues (47% of total). Adjusted EBITDA1 declined 23%YoY (£5.1m), a 14.8% margin (Q3 22: 18.1%); on a currency-adjusted basis -13%YoY. Net operating cash inflow of £1.7m contrasted with £(1.0)m outflow in Q3 22, with net debt of £45.7m (FY22: £59.3m) and healthy cash reserves of £32.9m.
Q3 under-performance in the Advanced Nutrition business area indicates a revision to our full year FY23 outlook and the basis for FY24 estimates; a 7.2% reduction in our FY23 (adj.) EBITDA outlook and -7.2% for FY24. We maintain our fair value at 63p/share, backed by sound cashflow management, confidence in Genetics salmon eggs demand and production capacity and prospects for Benchmark’s Ectosan®Vet and Clean Treat® treatments.
Link to full report: https://www.equitydevelopment.co.uk/research/a-strong-performance-in-the-year-to-date
Benchmark Holdings plc, the aquaculture biotechnology company, hosted an investor presentation following publication of their Q3 results (period to 30th June 2023).
Trond Williksen, CEO, and Septima Maguire, CFO took investors through details of the key operational and financial highlights in the period, which included continued growth in Genetics, offset by the impact of weak shrimp markets on Advanced Nutrition. The management team answered a wide range of investor questions and discussed the outlook for each business division.
The full video has been divided into chapters as below:
0:00:03 Introduction & Agenda
0:00:31 Highlights
0:06:19 Operational Update (Genetics)
0:16:38 Operational Update (Advanced Nutrition)
0:20:20 Operational Update (Health)
0:24:53 Financial Update
0:32:21 Outlook
0:39:15 Questions & Answers
Link to full video: https://www.equitydevelopment.co.uk/research/benchmark-holdings-investor-presentation-q3-results-august-2023
Benchmark Holdings plc, the aquaculture biotechnology company, will be conducting an investor presentation following publication of their Q3 results for the period to 30th June 2023.
The online presentation will be hosted by Trond Williksen, CEO, and Septima Maguire, CFO.
This event will take place at 12.00pm on Thursday 24th August.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end. You can sign up to register at this link: https://www.equitydevelopment.co.uk/news-and-events/benchmark-q3results-presentation-24aug2023
Benchmark Holdings plc, the aquaculture biotechnology company, conducted an investor presentation following publication of their Q2 & Interim results for the period to 31st March 2023.
Trond Williksen, CEO, and Septima Maguire, CFO ran investors through highlights of the period, which included strong performance across the three business divisions - Genetics, Advanced Nutrition and Health. They provided a detailed financial review and updated viewers on plans maintain a dual listing on Euronext Growth Oslo and AIM for the foreseeable future. Management also answered a range of investors questions.
The video has been divided into chapters as below:
0:00:00 Introduction
0:00:46 Q2 FY23 highlights
0:05:32 Operational Update in Genetics
0:13:57 Operational Update in Advanced Nutrition
0:17:20 Operational Update in Health
0:21:36 Financial Update
0:27:50 Outlook
0:37:33 Questions & Answers
Link to full video: https://www.equitydevelopment.co.uk/research/benchmark-holdings-investor-presentation-q2-results-may2023
For the six months to 31/3/2023, Benchmark Holdings reported revenue of £98.9m, +24.8%YoY (currency-adjusted +19%YoY), and (adj.) EBITDA of £22.1m, +39.2%YoY (currency-adjusted +36%YoY), a 22.3% margin. Adjusted for the fair value of biological assets, the increase in (adj.) EBITDA was 47%YoY. Underlying the strength of H1 performance, net operating cash inflow of £9.5m was almost 5x H1 22 levels, with net debt reduced to £44.5m (FY22: £47.5m) and cash including facilities at £53.9m. As CEO Trond Williksen commented, after three years of consolidation the Group is now in a position to enter a phase of organic expansion, with the potential for bolt on acquisitions in core areas - under strict criteria.
Benchmark also reports that, having completed consultations, it plans to maintain a dual listing on Euronext Growth Olso and LSE AIM, and continue to review listing on the Oslo Børs.
At this stage we maintain our FY23 outlook. We expect revenue drivers in the core Advanced Nutrition business area to normalise and gather pace towards the year end. Revenue in Genetics continues to be driven by firm demand for salmon eggs; we note the pace of diversification in Iceland and Chile. Likewise, demand in Health should accelerate in line with sea lice seasonal demand. Our fair value for Benchmark remains 63p/share.
Link to full report: https://www.equitydevelopment.co.uk/research/h1-23-results-a-robust-base-for-expansion
First class Company IMHO.
I concur, but its a long way back to the 60's. Added sub 40,s but it tends to suck you in - then again to win......
Morning,
I think this is a really interesting company which seems to be on a steady path to profitability. Hopefully the results should be well received today:
Excellent H1 FY23 results driven by good performance in all business areas:
o 25% growth in revenues to £98.9m (H1 FY22: £79.2m)
o 39% increase in Adj. EBITDA to £22.1m (H1 FY22: £15.9m)
o 47% increase in Adj. EBITDA excluding fair value ("FV") movement in biological assets to £21.8m (H1 FY22: £14.8m):
§ Adj. EBITDA margin excluding FV movement in biological assets increased to 22% (H1 FY22: 19%)
o 193% increase in Adj. Operating profit excluding FV movement in biological assets to £11.4m (H1 FY22: £3.9m)
o Further reduction in loss before tax
o Operating cash inflow £9.5m (H1 FY22: cash inflow of £2.0m)
Benchmark Holdings plc, the aquaculture biotechnology company, will be conducting an investor presentation following publication of their Q2 and Interim results for the period to 31st March 2023.
The online presentation will be hosted by Trond Williksen, CEO, and Septima Maguire, CFO.
This event will take place at 12.00pm on Tuesday 23rd May.
The webinar is open to all existing and potential shareholders. Questions can be submitted during the presentation to be addressed at the end.
Sign up to register here: https://www.equitydevelopment.co.uk/news-and-events/benchmark-2qresults-presentation-23may2023
Thanks stargate. Technically it does look like a coiled spring.
But I wonder is there any news out, anything fundamental going on as well?
Volume has picked up dramatically.
I feel like I'm in the dark here.
The chart pattern is called a coil, in an old American stock market book, I have. The coil is a very fast moving stock pattern, and is generally described as peaks and troughs, reducing in dimension from left to right of the chart. Also the midpoint between peak and trough is usually broken, a few times. I think the book was by Wetsel Market Bureau, written in the 1930's.
Hi there,
I've been holding this stock for a while and it's been very difficult.
Does anyone know why stock is so strong now?
I can't find any story.
Many thanks