Benchmark Holdings Share Price (BMK)

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.