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10 Jan 2025 07:00
THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.
Anpario plc("Anpario", the "Group" or the "Company")
Full year trading statement
Anpario plc (AIM:ANP), the independent manufacturer of natural sustainable animal feed additives for health, nutrition and biosecurity, provides the following trading update for the year ended 31 December 2024 ("FY 2024"). The figures set out in this announcement remain subject to audit.
Trading update
The Group, including three months of trading for Bio-Vet Inc., delivered a stronger than expected operating performance in the second half of 2024. Year-end sales were higher than anticipated, and the Group now expects revenue for the 12 months ended 31 December 2024 to be approximately £37.5m* (31 December 2023: £31.0m). This strong performance in revenue combined with the Group's high operational gearing and favourable year-end foreign exchange movements, will result in adjusted EBITDA being ahead of current market expectations*.
Bio-Vet Inc. had a strong final quarter due to heightened demand for its products, which support the health of dairy cows affected by avian influenza, and our Middle East and Africa segment delivered an outstanding sales performance.
Financial position
Our financial position remains strong, with year-end cash balances of £10.5m* (31 December 2023: £10.6m), after accounting for the acquisition of Bio-Vet Inc. and associated land and buildings for an initial cash consideration of US$6.3m, on a debt-free basis, which completed in September 2024.
Our strong balance sheet enables the Group to invest in innovative natural product solutions, expand our global reach and explore earnings enhancing and complementary acquisitions to continue the profitable development of the Group. We remain confident in our ability to capitalise on growth opportunities, delivering long-term benefits to all stakeholders.
FY2024 Results
The Group expects to publish its FY 2024 final results on or around 26 March 2025.
*Analyst consensus for FY 2024 immediately prior to this announcement was Revenue of £35.25m, EBITDA of £5.7m and net cash of £7.2m.
Enquiries
Anpario plc | |
Richard Edwards, Chief Executive Officer | +44(0)7776 417 129 |
Marc Wilson, Group Finance Director | +44(0)1909 537 380 |
Shore Capital |
|
(Nominated Adviser and Broker) | +44 (0) 20 7408 4090 |
Stephane Auton | Corporate Advisory |
David Coaten | |
Tom Knibbs | |
Henry Willcocks | Corporate Broking |
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