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
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Anpario
plc
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Richard Edwards, Chief Executive
Officer
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+44(0)7776 417 129
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Marc Wilson, Group Finance Director
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+44(0)1909 537 380
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Shore Capital
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(Nominated Adviser and
Broker)
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+44 (0) 20 7408 4090
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Stephane Auton
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Corporate Advisory
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David Coaten
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Tom Knibbs
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Henry Willcocks
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Corporate Broking
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