REG - Genus - FY25 Trading Update

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RNS Number : 0112R  Genus PLC  15 July 2025

15 July 2025

Genus plc ("Genus" or the "Group")

FY25 Trading Update

Genus (LSE: GNS), a leading global animal genetics company, publishes the
following unaudited trading update for its fiscal year ended 30 June 2025.
Highlights include:

·   Strong underlying Group trading in-line with expectations

·  Double digit underlying growth in PIC adjusted operating profit, as
expected; additional net £3.7m milestone receipt following FDA approval of
PRP gene edit

·   ABS ahead of expectations in H2, VAP Phase 2 achieved £8.5m of
in-year benefit

·  Excluding the PRP milestone receipt, FY25 adjusted PBT to be at least
£68m in actual currency, in-line with expectations(1)

·   Including the PRP milestone receipt, FY25 adjusted PBT to be at least
£72m in actual currency

PIC's underlying trading was in-line with expectations in the second half with
the Americas and Asia regions continuing to perform well. As announced on 30
April 2025, the U.S. Food and Drug Administration ("FDA") issued its landmark
approval for the Group's PRRS(2) Resistant Pig ("PRP") gene edit to be used in
the U.S. food supply chain. This approval triggered a net £3.7m receipt to
Genus, comprising a $5.5m (£4.1m) milestone receipt from the Group's Chinese
partner, Beijing Capital Agribusiness, as per the terms of the strategic
porcine collaboration agreement signed in May 2019, as well as Genus making
milestone payments of £0.4m to our research collaborators.

ABS performed ahead of expectations in the second half, with Value
Acceleration Programme ("VAP") initiatives continuing to be the primary driver
of adjusted operating profit growth. VAP Phase 2 achieved £8.5m of in-year
benefit and in total the annualised benefit of VAP Phase 1 and Phase 2 is
projected to be over £21m, as expected. ABS has commenced Phase 3 initiatives
to reshape its go-to-market channels and enhance commercial excellence to
accelerate growth.

As a result of good trading and the PRP milestone receipt, the Board now
expects Group FY25 adjusted profit before tax to be at least £72m in actual
currency(1,3). Excluding the net £3.7m PRP milestone receipt,  FY25 adjusted
PBT is expected to be at least £68m in actual currency, in-line with
expectations(1,3).

Group cash conversion in the second half continued to be very strong resulting
in strong growth in free cash flow and a reduction in leverage to less than
1.6x at year-end.

Genus will announce its FY25 preliminary results on 4 September 2025.

For further information please contact:

Genus plc            Tel: +44 (0)1256 345 970

Jorgen Kokke, Chief Executive Officer

Alison Henriksen, Chief Financial Officer

Anand Date, Investor Relations Director

Burson Buchanan             Tel: +44 (0)207 466 5000

Charles Ryland; Toto Berger; Sophie Wills

About Genus

Genus is a world-leading animal genetics company. Genus creates advances to
animal breeding and genetic improvement by applying biotechnology and sells
added value products for livestock farming and food producers. Its technology
is applicable across livestock species and is currently commercialised by
Genus in the dairy, beef and pork food production sectors.

Genus's worldwide sales are made in over seventy-five countries under the
trademarks 'ABS' (dairy and beef cattle) and 'PIC' (pigs) and comprise semen,
embryos and breeding animals with superior genetics to those animals currently
in farms. Genus's customers' animals produce offspring with greater production
efficiency, and quality, and use these to supply the global dairy and meat
supply chains.

The Group's competitive edge has been created from the ownership and control
of proprietary lines of breeding animals, the biotechnology used to improve
them and its global supply chain, technical service and sales and distribution
network. The PRRS(1) Resistant Pig is a market leading innovation in gene
editing, which Genus is looking to commercialise in the porcine industry once
regulatory approval is gained.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in
over twenty-five countries on six continents, with research laboratories
located in Madison, Wisconsin, USA.

(1) The company compiled consensus range for FY25 adjusted profit before tax
in actual currency is £66.8m to £70.2m with an average of £67.9m. This is
based upon 10 analyst estimates

(2) Porcine Reproductive and Respiratory Syndrome

(3) This includes a currency headwind of £8.4m for FY25, in-line with
previous guidance

 

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