2023년 예비 미감사 연간 결과
DESJARDINS RI USA 저탄소 지수 ETF 단위
$38.03
11:15 14/05/24
애니멀케어 그룹 plc
("애니멀케어", "회사" 또는 "그룹")
Preliminary Unaudited Results for the year ended 31 December 2023 and Chair Succession
9 4월 2024. 국제 동물 건강 기업인 Animalcare Group plc(AIM: ANCR)는 31년 2023월 XNUMX일에 종료된 회계연도에 대한 예비 미감사 결과를 발표합니다.
재무 하이라이트
- Revenues up 3.8% to £74.4m (2022: £71.6m) reflecting improved performance in the second half, with sales growth across all three product categories
- Gross margins improved by 1.5% to 58.3% as the Group continues to benefit from focus on larger-selling, more profitable brands
- Underlying* EBITDA grew by 1.5% to £13.3m as the Group continues to invest in developing the skills and talent base, alongside new product development
- 세전 이익은 £3.5m(2022년: £2.5m)였습니다.
- Underlying earnings per share of 10.9p, primarily reflecting a significant increase in the underlying effective tax rate; reported basic earnings per share of 2.0 pence (2022: 3.3 pence per share)
- Benefiting from improved cash conversion, net debt was £1.2m at year end (2022: £5.4m), further extending the Group's capacity and flexibility to invest in growth opportunities
- Board proposes an increased final dividend of 3.0 pence per share, giving a full year dividend of 5.0 pence per share (2022: 4.4 pence per share)
- Following the post year end disposal of Identicare, the Group's net cash position was around £27.0m at 28 February 2024
전략적 및 운영상의 하이라이트
- Plaqtiv+ dental range continued to respond positively to sales and marketing activities across markets
- Daxocox recorded double-digit growth across direct sales territories
- Return of Danilon to the Group's sales and marketing control contributes to increased revenues
- The Group's operational capability has been reinforced by the organisational changes and investments in people
- Early-stage VHH antibody collaboration and licensing programme with Orthros Medical continues to advance and has been extended to cover equine conditions
- Majority stake in Identicare Ltd sold post year end for £24.9m
의장 승계
- Senior Independent Director, Ed Torr to assume role of Non-Executive Chair at the conclusion of the AGM on 20 June 2024 following Jan Boone's decision to stand down from the Board post year end. Ed brings extensive knowledge of the Company and the veterinary pharmaceutical industry to the position
* 대체 성과 측정(APM)은 최고재무책임자(CFO)의 검토 및 미감사 연결 재무제표의 메모에 보고된 결과를 기준으로 조정되었습니다.
Chief Executive Officer, Jenny Winter said: "A positive trading performance across our direct sales territories and market segments puts Animalcare in a strong position to deliver on our long-term strategic growth objectives.
"The Group's continued focus on larger-selling, more profitable brands in our portfolio contributed to growing revenues, expanding gross margins and improving cash generation over the period. Our strong financial platform received a material boost in February 2024 with the disposal of Identicare Ltd, a transaction which crystallised the value of a non-core asset, allowing us to focus on our animal health pharmaceuticals business. The Group is better placed than ever to pursue organic and inorganic growth opportunities that can accelerate future growth and increase the value that the Group creates over the medium to long-term.
"Operationally, we continued to invest in our people with particular attention on sales and marketing and business development capabilities, enabling us to identify opportunities and successfully bring them to our customers.
"I'd like to take this opportunity to thank Jan Boone for his support and wise counsel as Chair of the Animalcare Board. Jan's contribution to the Group's growth strategy has been vital and I am looking forward to building an equally positive partnership with Ed Torr when he takes on the role of Chair after our Annual General Meeting."
분석가 웹캐스트
A briefing for analysts will be held at 10:30 BST on 9 April 2024 via Zoom webcast. Analysts wishing to join should use the following link to register and receive access details.
https://stifel.zoom.us/webinar/register/WN_3SW_YDRqRqGinXhQcTolng
분석가 프레젠테이션의 사본은 웹캐스트 직후 그룹 웹사이트에서 제공될 것입니다.
이 발표에는 규정(EU) No 7/596의 2014조 목적을 위한 내부 정보가 포함되어 있습니다.
동물보호에 대해
Animalcare Group plc는 영국 AIM에 등재된 국제 수의 판매 및 마케팅 조직입니다. Animalcare는 40개국에서 운영되고 있으며 유럽 및 전 세계의 약 XNUMX개국에 수출하고 있습니다. 그룹은 자체 개발 파이프라인, 파트너십 및 인수를 통해 새롭고 혁신적인 제품을 시장에 출시하는 데 중점을 두고 있습니다.
동물보호에 대한 자세한 내용은 다음을 방문하십시오. www.animalcaregroup.com 또는 문의 :
애니멀케어 그룹 plc 제니 윈터, 최고 경영자 크리스 브루스터(Chris Brewster), 최고재무책임자(CFO) 미디어/투자자 관계
| +44 (0)1904 487 687
|
스티펠 니콜라우스 유럽 제한 벤 매디슨 닉 아담스 니콜라스 할랜드 프랜시스 노스
| +44 (0)20 7710 7600 |
판 뮤어 고든 (관절 Broker) 기업 금융 프레디 크로슬리/엠마 얼 기업 중개 루퍼트 디어든
| +44 (0)20 7886 2500 |
의장 성명서
Animalcare Group performed strongly over the course of 2023 with a return to revenue growth, increased gross margins and a healthy balance sheet as we maintain focus on execution of our long-term growth strategy.
The animal health markets in which we operate continued to demonstrate their resilience and attractive fundamentals despite a normalisation in rates of demand and the effect of inflationary pressures. Total revenues increased by around 3.8% to £74.4m (2.5% at constant exchange rates).
Helping to drive this top line growth were recently launched products such as our Plaqtiv+ oral health range, which is proving popular with vets and pet owners alike, while Daxocox recorded double-digit growth across our direct sales operations. Additionally, the return of equine anti-infective Danilon to the Group's sales and marketing control also contributed to growth, as did the Identicare pet microchipping and consumer services business.
Gross margins expanded by 1.5% to 58.3% supported by our ongoing focus on the larger-selling, more profitable brands in our portfolio and the effects of targeted pricing measures to help offset the impact of inflation during the period. Underlying EBITDA was £13.3m reflecting investment in our business, chiefly in people-related overheads.
A cash conversion rate of approximately 86% supported the ongoing reduction in debt, arriving at a net cash position of £1.7m at the year end before accounting for IFRS 16 leases. Symbolically, this is an important achievement for the Group, but most significantly it equips us with additional flexibility and financial firepower to continue pursuit of investment opportunities that can grow our business.
Our balance sheet position was further strengthened in February 2024 when we announced the disposal of our majority stake in Identicare Ltd for a cash consideration of £24.9m. The sale of this non-core asset represents a significant crystallisation of value for the Group and its shareholders and validates the decisions taken by the Company to instil new leadership and with this, a strategic repositioning of the business to make it attractive to specialist investors. The disposal of Identicare significantly strengthens the balance sheet of the Group and enables us to accelerate our organic and inorganic growth initiatives and deliver long-term value creation for shareholders. Following the transaction, the Group's net cash position was around £27.0m.
In 2022 we reached an agreement with Netherlands-based Orthros Medical covering a licensing and collaboration deal to explore the utility of VHH antibody technology as an innovative treatment for canine osteoarthritis. The programme is progressing well and we are extending the scope of the work to explore the potential benefits in horses. While these are still early days for the collaboration, we believe this pipeline project represents an exciting and emerging area of science with real therapeutic promise.
In 2021 we shared specifics of our commitment to the environmental, social and governance (ESG) pillars of sustainable development. We believe that all organisations, large or small, have a duty to operate in a responsible manner in everything they do. The framework we laid out two years ago reflects the material needs and interests of our stakeholders and continues to guide us on our journey at the most senior levels of our Group as we grow our business.
Despite the current uncertain macroeconomic environment, we continue to be optimistic about the prospects of our business. The solid financial position of the Group, backed by a strong operational capability, give us the confidence to continue investing in our long-term growth strategy.
The Group's resilience, trading strength and solid financial position supports the Board's decision to propose a final dividend of 3.0 pence per share, increasing the full year dividend per share by 13.6% to 5.0 pence per share.
As you will have seen, my decision to retire from the Animalcare Board was announced today. It has been an honour to serve this Company as chair for the last seven years, but I believe that the time has come for me to pass the baton. At the conclusion of the 2024 Annual General Meeting and subject to shareholder approval of his re-election as a director, my responsibilities as Non-Executive Chair will transfer to Ed Torr, our Senior Independent Director.
Ed's extensive experience of the veterinary pharmaceutical industry combined with his proven senior leadership capabilities make him an ideal candidate for the role of Chair as the Group continues to focus on delivery of our growth strategy. Ed joined the Animalcare Board in 2017 after an impressive management career that 포함 13 years as Commercial Director on the Board of Dechra Pharmaceuticals plc where he was responsible for the integration of several major acquisitions and global licensing and launches of key brands. With Ed's knowledge of Animalcare and, more widely, of the veterinary pharmaceutical industry, the Group could not be in better hands as we continue to focus on delivery of our strategy.
There's no doubt that our people drive our success. The positive progress we made in 2023 was delivered through their efforts and it's important to recognise our colleagues for their hard work and commitment. I'd also like to thank you, our shareholders, for your continuing support as we grow our Company by striving for better animal health.
JAN BOONe
비상임이사
9 4월 2024
최고 경영자의 검토
I'm pleased to report that 2023 was a positive year on several fronts for Animalcare. Over the 12-month period we delivered increased sales and gross margins across our operations while making progress against our strategic objectives. The Group is now better equipped than ever to drive growth over the long term, aided by a further strengthening of our balance sheet and growing organisational capabilities.
강력한 성능
Group revenues totalled £74.4m, up 3.8% at actual exchange rates (2.5% at CER). Among the key contributors to this top-line growth were new products, notably annualised growth from the recently launched Plaqtiv+ range, demand for Danilon, our equine anti-inflammatory that reverted to Animalcare sales and marketing control from the beginning of 2023, and sales generated by the Identicare business.
In recent years we have focused our commercial attention on the larger-selling, more profitable products in our portfolio. Combined with carefully targeted pricing measures, this has helped deliver a 1.5% improvement in gross margins over the previous year. That also contributed to underlying EBITDA of £13.3m, up from £13.1m in the prior year, as we continue to make SG&A investments, primarily in the development of our people.
Positive revenue and margin performance alongside an improved cash conversation rate of approximately 86% (2022: approximately 77%) resulted in a strengthening of our balance sheet to end the year in a net cash position before accounting for IFRS 16 leases of £1.7m. This milestone for the Company equips us with greater financial flexibility and firepower to accelerate our strategy including through the pursuit of organic and inorganic investment opportunities.
유기적 성장
Much of our success has been built on the strategic commitment to develop and nurture brands that offer sustainable revenues with attractive margins, thereby maximising the value of what we possess and the opportunities to add to our portfolio.
Our top selling brands represent an engine of organic growth for Animalcare. Revenues in 2023 were boosted in no small part by an enthusiastic customer response to our Plaqtiv+ dental health range, the first products to result from our STEM joint venture. Daxocox also continued to make headway in a competitive and innovative market, achieving a double-digit sales increase across our direct sales territories.
Each of our market segments saw revenue growth. Companion Animals was again the main driver of sales in absolute terms, while Equine benefited from our decision to return Danilon to the Animalcare fold, a decision that gives us more control over sales and marketing of this anti-inflammatory treatment. Production Animals, which remains an important part of our overall business, was up marginally on the prior year.
무기 성장
Pursuing external opportunities to drive sustainable growth is a strategic priority for the Group. This is reflected in the level of senior management focus dedicated to the identification and assessment of value-creating deals. Inorganic opportunities can manifest as M&A, in-licensing or partnering with the objective of expanding the make-up and reach of our existing portfolio or adding innovative new pharmaceutical products to the pipeline.
At all times Animalcare takes a disciplined approach to acquisitions and continues to see scope for further expansion with several prospects in development. We continue to identify plenty of opportunities giving us the confidence that we can execute attractive external deals aided by our strong financial platform.
신제품 개발
Innovation is a key driver of growth in our industry. That's why we are increasing our R&D focus and capability on investigative drugs that we believe have the potential to change veterinary practice.
In 2022 we took a significant step to strengthen our novel pipeline in a pre-clinical collaboration and licensing deal with Orthros Medical, a Netherlands-based research company specialising in VHH antibody technology. Initially focused on treatment of osteoarthritic pain in dogs, we are now extending the investigative programme to horses. Overall, the project is progressing well and we are excited about the future potential of this area of medical science. Our development pipeline also features potentially value-creating lifecycle projects that aim to expand and extend the reach of products in our existing portfolio.
강력한 기초
Our future is being built on increasingly strong foundations. Financially, the reduction in our net debt from around £23.0m in 2019 to what was a net cash positive position of £1.7m at the 2023 year end, is a significant achievement and gives us more options as we continue to seek out value-creating opportunities.
Our balance sheet improved further in February 2024 with the disposal of UK-based Identicare Ltd. The sale of our majority stake in the non-core microchipping and pet owner-focused services company for £24.9m realised significant value for the Group and our shareholders. As a result, at the time of the announcement the Group's net cash position increased to around £27.0m.
I'm really proud of what we achieved after our decision to carve out the business under specialist leadership. The disposal was the logical next step for Animalcare, providing us with significant additional financial flexibility and resources as we concentrate on growing our pharmaceutical-centred animal health business.
The skills, attitudes and values our people bring to the table are critical for delivery of our strategy. We have consistently invested in core skills, particularly in sales and marketing, and have adjusted our leadership as our marketplace and organisational needs evolve. Most recently, we have reconfigured the senior management team with the creation of a Chief Operating Officer to oversee the Group's pharmaceutical activities supported by a Group Finance Director. Operationally, I believe we are better placed than ever to drive future growth; we possess mature capabilities that match and support our ambitions.
요약 및 전망
In 2023 we delivered a strong set of results in line with the expectations of the market. Revenue growth, expanded gross margins and improved levels of cash conversion were all features of a positive performance for Animalcare.
Looking ahead to 2024, we will continue to push for profitable growth and cash generation in our existing operations as we focus on stepping up investment, whether inorganic or organic, to build our new product and R&D pipeline. With our strong balance sheet, significantly enhanced through the post year end sale of Identicare, the Group is better equipped than ever to accelerate growth in the future.
I'd like to thank our people for driving such a positive performance in 2023 while wishing the Identicare team every success in the exciting next step in their journey.
Finally, I would also like to recognise the contribution of Jan Boone who has decided to stand down as Chair of the Board after seven years in the role. His support, advice and encouragement have been hugely valuable in the shaping and pursuit of our long-term growth strategy. I'm very much looking forward to working more closely with Jan's successor, Ed Torr, who as Senior Independent Director on the Board since 2017, has ideal credentials to take on the role of Non-Executive Chair. Ed's leadership skills have been honed over many years in the international veterinary pharmaceutical industry, most notably at Dechra Pharmaceuticals plc where his responsibilities spanned commercial operations, product development, manufacturing, licensing and launching of innovative global brands as well as the integration of key acquisitions into the business.
JENNY WINTER
최고 경영자(CEO)
9 4월 2024
최고 재무 책임자의 검토
기본 및 법적 결과
보고 기간에 걸쳐 비교 가능성을 제공하기 위해 연결실체는 기초 및 법정(IFRS) 기준으로 결과를 표시합니다. 이사들은 기본이 아닌 항목을 제외하고 기본 기준에 따라 재무 결과를 제시하는 것이 사업 성과에 대한 더 명확한 그림을 제공한다고 믿습니다. IFRS 결과에는 법정 결과를 제공하기 위해 이러한 항목이 포함됩니다. 모든 수치는 달리 명시되지 않는 한 실제 환율(AER)로 보고됩니다. 논평에는 환율 변동의 영향을 식별하기 위한 고정 환율(CER)에 대한 참조가 포함됩니다. 이 재무 검토가 끝나면 기본 결과와 법정 결과 간의 조정이 제공됩니다.
기본 재무 결과 개요
2023 £'000 | 2022 £'000 | AER에서 % 변경 | |
수익 | 74,351 | 71,616 | 3.8% |
총 이익 | 43,346 | 40,659 | 6.6% |
총 마진 % | 58.3% | 56.8% | 1.5% |
기본 영업 이익 | 9,807 | 9,753 | 0.6% |
기본 EBITDA | 13,327 | 13,131 | 1.5% |
기본 EBITDA 마진 % | 17.9% | 18.3% | (0.4의 %) |
기본 기본 EPS(p) | 10.9p
| 12.6p | (13.5의 %) |
Overall trading activity in 2023 reflected a normalisation in the rates of demand growth across our markets due to the changing macroeconomic environment and country-specific dynamics. The Group delivered an improved financial performance during the second half, returning to revenue growth in line with market expectations following a more challenging first half against a tough comparator for the prior period.
Group revenues improved to £74.4m (2022: £71.6m), an increase of 3.8% at AER (2.5% at CER). An analysis by product category is shown in the table below:
2023 £'000 | 2022 £'000 | AER에서 % 변경 | |
반려동물 | 52,214 | 50,217 | 4.0% |
생산 동물 | 15,790 | 15,674 | 0.7% |
말 및 기타 | 6,347 | 5,725 | 10.9% |
금액 | 74,351 | 71,616 | 3.8% |
Revenue in Companion Animals improved by 4.0% to £52.2m, benefiting from sales growth generated by new products, which contributed £1.9m (2022: £2.1m), approximately half driven by Plaqtiv+ following its successful launch during Q2 2022. Identicare, our UK-based pet microchipping and consumer-focused services business, continued the strong momentum from FY 2022, with sales increasing by 34% to £3.6m. The Group continues to invest in sales and marketing activities to drive Daxocox uptake in our direct sales markets, with the expanding prescriber base delivering 16.7% revenue growth versus the prior year. These positive contributions to revenue growth were partially offset by competitor dynamics against certain generic brands, cessation of distribution arrangements and disruption in supply of certain brands within the UK.
Production Animals revenues, which are chiefly generated by our Southern European and International Partners operations, were broadly in line with 2022 at £15.8m. The launch of a third-party distribution product in Spain, together with growth in a number of our larger-selling brands, were largely offset by phasing of orders and generic competition, notably within International Partners.
Equine and other revenues were £6.3m, with growth accelerating during the second half to 10.9%. This was principally driven by bringing Danilon, one of our largest products, back into the UK business in the second half of 2022, supported by focused sales and marketing resource.
The continuing commercial focus on our larger, higher-margin brands and services, together with a positive sales mix, are the key drivers of the 1.5% improvement in our gross margins. While the Group has been affected by input cost (COGS) and logistic price increases, the net impact on gross and EBITDA margins during the year has not been significant as we have taken mitigating pricing actions, where possible, while maintaining our competitiveness. However, we remain alert to the accelerating inflationary pressures, notably around people, impacting our overall cost base as we progress through 2024.
Underlying EBITDA increased to £13.3m (2022: £13.1m), with EBITDA margins moderating to 17.9%. Underlying overheads, defined as gross profit less underlying EBITDA, increased during the year to £30.0m (2022: £27.5m), representing 40.4% of revenue compared to 38.4% in the prior year. People costs remain the largest component of our SG&A expenses, which increased by £1.5m, of which around 40% is inflation related. We continue to invest in building the skills and talent base that will drive our business forward and, during the year, we further aligned internal resources to accelerate delivery of our key strategic objectives, primarily sales and marketing excellence and the identification of potential M&A opportunities and the building of commercial alliances. The balance of the increase in overheads largely relates to R&D (Orthros), regulatory, quality, professional fees and IT licensing expenses.
The underlying effective tax rate of 26.6% (2022: 16.4%) has significantly increased versus prior year primarily reflecting the geographic mix of operating profits, level of non-deductible items and the prior year one-off impact of the recognition of tax losses in the UK (a non-cash item). We continue to review and optimise our tax efficiency due to changes in regional profit mix and the innovation tax relief environment.
Reflecting the points noted above, underlying basic EPS decreased to 10.9 pence (2022: 12.6 pence).
보고된 재무 결과 개요
Reported Group profit after tax for the year (after accounting for the non-underlying items shown in the table and discussed below) was £1.2m (2022: £2.0m), with reported earnings per share at 2.0 pence (2022: 3.3 pence per share).
2023 Underlying results £'000 | 무형자산의 상각 및 손상 £'000 | 인수, 구조 조정, 통합 및 기타 비용 £'000 | 2023 Reported results £'000 | 2022 Reported results £'000 | |
수익 | 74,351 | - | - | 74,351 | 71,616 |
매출 총 이익 | 43,346 | - | - | 43,346 | 40,659 |
판매, 일반 및 관리 비용 | (31,086) | (3,539) | (801) | (35,426) | (32,560) |
연구 개발비 | (2,455) | (646) | - | (3,101) | (3,030) |
순기타영업이익/(비용) | 2 | (390) | (388) | (915) | |
손상 손실 | - | (22) | - | (22) | (918) |
영업이익/(손실) | 9,807 | (4,207) | (1,191) | 4,409 | 3,236 |
순금융비용 | (744) | - | - | (744) | (642) |
합작 투자 순손실 지분 | (142) | - | - | (142) | (52) |
세전 이익/(손실) | 8,921 | (4,207) | (1,191) | 3,523 | 2,542 |
과세 | (2,376) | (207) | 259 | (2,324) | (577) |
해당 연도의 이익/(손실) | 6,545 | (4,414) | (932) | 1,199 | 1,965 |
기본 주당순이익(p) | 10.9p | - | - | 2.0p | 3.3p |
Non-underlying items totalling £5.4m (2022: £6.5m) relating to profit before tax have been incurred in the year, as set out in note 4. This principally comprises amortisation and impairment of acquisition-related intangibles of £4.2m (2022: £5.4m). The current year charge encompasses amortisation in relation to the reverse acquisition of Ecuphar NV and previous acquisitions made by Ecuphar NV of £4.2m. In the prior year, a non-cash impairment charge of £0.9m was incurred in relation to research and development assets that formed part of the acquired development pipeline, the principal driver of which was manufacturing challenges that impacted resumption of supply at appropriate commercial returns.
The balance of the non-underlying charge, totalling £1.2m (2022: £1.2m) includes share-based payments in respect of Identicare Ltd of £0.8m and costs relating to M&A and business development activities, including the disposal of Identicare post year end.
배당
주당 2.0펜스의 중간 배당금이 2023년 XNUMX월에 지급되었습니다.
The Board is proposing a final dividend of 3.0 pence per share (2022: 2.4 pence per share). Subject to shareholder approval at the Annual General Meeting to be held on 20 June 2024, the final dividend will be paid on 19 July 2024 to shareholders whose names are on the Register of Members at close of business on Friday 21 June 2024. The ordinary shares will become ex-dividend on Thursday 20 June 2024. The deadline for the Dividend Re-Investment Programme (DRIP) election is Friday 28 June 2024.
The Board continues to closely monitor the dividend policy, recognising the Group's need for higher investment in organic and inorganic growth while maintaining dividend flow to deliver overall value to our shareholders.
현금 흐름 및 순 부채
The Group continues to generate strong cash flows, which we seek to reinvest into accelerating the strategy and delivering further value creation for shareholders.
Improved cash generation, ahead of the rate delivered in 2022, has further strengthened our balance sheet and with it our financial flexibility. The Group ended the financial year in a net cash position, pre IFRS 16 leases, of £1.7m (31 December 2022: £2.4m debt).
2023 £'000 | 2022 £'000 | |
기본 EBITDA | 13,327 | 13,131 |
운전자본 이동 | (1,323) | (1,904) |
기타 | (1,077) | (1,798) |
운영으로 인한 순 현금 흐름 | 10,927 | 9,429 |
기본이 아닌 항목 | 498 | 847 |
영업에서 발생하는 기본 순 현금 흐름 | 11,425 | 10,276 |
기본 현금 전환율 % | 85.7% | 78.3% |
Underlying net cash flow generated by our operations increased to £11.4m (2022: £10.3m). Working capital increased by £1.3m in the year, the movement chiefly attributable to £3.3m decrease in payables offset by a higher than expected inventory reduction of £2.3m (2022: increase of £2.7m), driven by a combination of supply and sales phasing which we expect to normalise in the first half of 2024. Trade receivables were broadly in line with 2022.
We are again targeting a year-on-year improvement in cash conversion compared to 2023, in the range of 85%-90%, which takes into account the post year end disposal of Identicare. As in the prior year, we expect the profile of our operating cash conversion to be lower in the first half versus second half, the key driver of which is the normalisation of our inventory as noted above.
Net debt decreased by £4.2m to £1.2m over the period. The net debt to underlying EBITDA leverage ratio was approximately 0.1 times (2022: 0.4 times), well below the maximum target of two times, enabling the Group to pursue external investment opportunities in support of its growth strategy.
£'000 | |
1년 2023월 XNUMX일의 순부채 | (5,402) |
운영으로 인한 순 현금 흐름 | 10,927 |
순 자본 지출 | (2,553) |
합작 투자 | (306) |
Net financing cashflows | (1,700) |
배당금 지급 | (2,644) |
현금 및 차입금에 대한 외환 | 376 |
IFRS 16 리스부채의 이동 | 68 |
31년 2023월 XNUMX일 현재 순부채 | (1,234) |
구성: | |
은행 순현금 | 1,709 |
IFRS 16 리스부채 | (2,943) |
We continue to invest in new product development to strengthen our pipeline through a balance of early and later-stage opportunities and lifecycle products. We are placing an increasing emphasis on innovation in Companion Animals, while at the same time we are reviewing opportunities for novel and innovative additions to our equine portfolio.
Capital expenditure of £2.6m (2022: £2.9m) largely comprises investment in our product development pipeline and licence milestone payments to Orthros Medical and STEM totalling £1.6m. The balance of expenditure relates chiefly to investment in our business systems, including CRM, ERP and IT infrastructure within Identicare.
대출 시설
As at 31 December 2023, the Group's total facilities of €51.5m, due to expire on 31 March 2025, consisted of a committed revolving credit facility (RCF) of €41.5m and a €10.0m acquisition line, the latter of which cannot be utilised to fund operations.
Net cash at the year end, pre IFRS 16 leases, was £1.7m (31 December 2022: £2.4 million debt) with the RCF unutilised, leaving headroom of £40.7m excluding the undrawn acquisition line.
As at 31 December 2023 and throughout the financial year, all covenant requirements were met with significant headroom across all measures.
We are currently in discussions with our four syndicate banks to increase our existing RCF from €41.5m to €44.0m with an extension of the maturity date to 31 March 2029. The acquisition line, which was drawn down by €3.4m at the year end, will be settled. We expect to complete the process by the end of April. The covenant requirements in the RCF will remain unchanged from the current RCF agreement, details of which are provided below.
그룹은 통화 간 현금 풀링을 통해 은행 업무를 중앙에서 관리합니다. 그룹의 순이자 지불 위치를 최적화하기 위해 자금은 매일 다양한 은행 계좌에서 중앙 은행 계좌로 이체됩니다.
The facilities remain subject to the following covenants, which are in operation at all times:
• 3.5배의 기본 EBITDA 비율에 대한 순 부채;
• 기본 EBITDA 대 이자 비율은 최소 4배입니다. 그리고
• 지급 여력(총 자산에서 영업권을 뺀 총 자산/총 자본에서 영업권을 뺀 금액)이 25%를 초과합니다.
관심가는
The Directors have prepared cash flow forecasts for a period of at least 12 months from the date of signing of these financial statements (the going concern assessment period). These forecasts indicate that the Group will have sufficient funds and liquidity to meet its obligations as they fall due, in particular when taking into consideration the Group's financial position following the post year end sale of Identicare for £24.9m and taking into account the potential impact of "severe but plausible" downside scenarios to factor in a range of downside revenue estimates and higher than expected inflation across our cost base, with corresponding mitigating actions. The output from these scenarios shows the Group has adequate levels of liquidity due to the cash proceeds received from the disposal of Identicare for the Directors to continue to adopt the going concern basis in preparing the financial statements without making assumptions concerning the extension of the RCF facility due to expire on 31 March 2025, and complies with all its banking covenants associated with the current committed facilities throughout the going concern assessment period.
후속 이벤트
On 28 February 2024 we announced the disposal of our majority shareholding in Identicare to BG Bidco 21 Limited, a newly incorporated company owned by funds managed by Bridgepoint Advisors II Limited, for a cash consideration of £24.9m which was payable upon completion of this sale. This represents a significant crystallisation of value for the Group and with it, a significant further strengthening of our balance sheet.
요약 및 전망
The Group has returned to revenue growth and delivered a solid set of results, in line with market expectations, with positive progress on gross margins and improved levels of cash conversion versus the prior year.
We will continue to drive profitable growth and cash flow in our existing operations while focusing on accelerating investment on developing and building our R&D and new product pipeline, underpinned by our confidence in our people, our strong operational and financial platform together with the resilience of the animal health sector in the light of continuing macroeconomic uncertainties across our markets.
With our strong balance sheet, significantly strengthened post year end through the disposal of Identicare, the Group is better placed than ever to accelerate growth in the future. Our capital allocation is closely aligned to our three strategic priorities. Alongside investment in organic growth, carefully selected and value-enhancing acquisitions and increasing the number of novel products in development are key factors in delivering the Group's long term growth strategy.
CHRIS BREWSTER
최고 재무담당자(CFO)
9 4월 2024
연결손익계산서(미감사)
31년 2023월 XNUMX일 종료
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| 31 월 XNUMX 일 종료 연도 |
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| 감사되지 않음 |
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| Underlying |
| 비기초(주 4) |
| 금액 |
| Underlying | Non-under-lying (note 4) | 금액 | ||||||
2023 |
| 2023 |
| 2023 |
| 2022 | 2022 | 2022 | ||||||||||
노트 | £'000 |
| £'000 |
| £'000 |
| £'000 | £'000 | £'000 | |||||||||
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수익 | 5 | 74,351 |
| - |
| 74,351 | 71,616 | - | 71,616 | |||||||||
매출원가 | (31,005) |
| - |
| (31,005) | (30,957) | - | (30,957) | ||||||||||
매출 총 이익 | 43,346 |
| - |
| 43,346 |
| 40,659 | - | 40,659 | |||||||||
연구 개발비 | (2,455) |
| (646) |
| (3,101) | (2,363) | (667) | (3,030) | ||||||||||
판매 및 마케팅 비용 | (12,316) |
| - |
| (12,316) | (13,547) | - | (13,547) | ||||||||||
일반 및 관리 비용 | (18,770) |
| (4,340) |
| (23,110) | (15,000) | (4,013) | (19,013) | ||||||||||
순기타영업(비용)/수입 | 2 |
| (390) |
| (388) | 4 | (919) | (915) | ||||||||||
손상 손실 | - |
| (22) |
| (22) | - | (918) | (918) | ||||||||||
영업 이익 |
|
|
| 9,807 |
| (5,398) |
| 4,409 |
| 9,753 | (6,517) | 3,236 | ||||||
금융 비용 | 6 | (1,419) |
| - |
| (1,419) | (1,752) | - | (1,752) | |||||||||
금융 수입 | 7 | 675 |
| - |
| 675 | 1,110 | - | 1,110 | |||||||||
순금융비용 | (744) |
| - |
| (744) |
| (642) | - | (642) | |||||||||
지분법을 적용하여 회계처리한 조인트벤처의 순손실 비중 | 12 | (142) |
| - |
| (142) | (52) | - | (52) | |||||||||
과세 전 소득 |
|
|
| 8,921 |
| (5,398) |
| 3,523 |
| 9,059 | (6,517) | 2,542 | ||||||
소득세 비용 | 8 | (2,376) |
| 52 |
| (2,324) | (1,487) | 910 | (577) | |||||||||
해당 기간 동안의 이익 | 6,545 |
| (5,346) |
| 1,199 |
| 7,572 | (5,607) | 1,965 | |||||||||
순이익: |
|
|
|
|
| |||||||||||||
부모의 소유자 | 6,545 |
| (5,346) |
| 1,199 | 7,572 | (5,607) | 1,965 | ||||||||||
Earnings per share for profit attributable to the ordinary equity holders of the Company: |
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|
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|
|
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| |||||||||||
주당 기본 수입 | 9 | 10.9p |
| - |
| 2.0p | 12.6p |
| - |
| 3.3p | |||||||
희석 주당 이익 | 9 | 10.8p |
| - |
| 2.0p | 12.5p |
| - |
| 3.2p | |||||||
기본 경영 성과에 대한 이해를 돕기 위해 이사들은 예외 사항 및 기타 항목이 적용되기 전에 기본 결과를 제시했습니다. 이러한 예외 항목과 기타 항목은 '비기초 항목'으로 분류되며 본 재무제표 주석 4에서 자세히 분석됩니다. 첨부된 주석은 이 미감사 연결재무제표의 필수적인 부분을 구성합니다.
연결포괄손익계산서(미감사)
31년 2023월 XNUMX일 종료
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| 31 월 XNUMX 일 종료 연도 |
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감사되지 않음 2023 | 2022 | ||||||
£'000 | £'000 | ||||||
이익 |
| 1,199 | 1,965 | ||||
기타포괄(비용)/수입 |
|
| |||||
해외사업 환산에 따른 환율차이* | (290) | 488 | |||||
기타포괄(비용)/소득(세금차감) |
| (290) | 488 | ||||
Total comprehensive (expense)/income for the year, net of tax |
| 909 | 2,453 | ||||
총 포괄 손익 : |
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부모의 소유자 | 909 | 2,453 | |||||
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* 추후 당기손익으로 재분류될 수 있음 |
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연결재무상태표(미감사)
31년 2023월 XNUMX일 종료
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| 31 월 XNUMX 일 종료 연도 | |||
노트 |
감사되지 않음 2023 |
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2022 |
| |||
£'000 |
| £'000 |
| ||||
자산 |
| ||||||
비유동 자산 |
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|
|
|
| |
친선 | 10 | 50,656 | 50,853 | ||||
무형 자산 | 11 | 20,584 | 25,283 | ||||
유형자산 | 403 | 448 | |||||
사용권 자산 |
| 16 |
| 2,819 |
| 2,924 |
|
합작 투자에 대한 투자 |
| 12 |
| 1,119 |
| 1,305 |
|
이연 법인세 자산 | 8 | 1,726 | 3,567 | ||||
기타 금융 자산 | 70 | 70 | |||||
비유동 자산 | 77,377 |
| 84,450 |
| |||
유동 자산 |
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|
|
| |||
재고 | 10,062 | 13,474 | |||||
매출 채권 |
|
| 13,294 |
| 13,568 | ||
기타 유동 자산 |
|
| 1,417 |
| 715 | ||
현금 및 현금성 자산 | 4,642 | 6,035 | |||||
총 유동 자산 | 29,415 |
| 33,792 |
| |||
총자산 | 106,792 |
| 118,242 |
| |||
부채 |
| ||||||
유동 부채 |
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|
|
|
|
| |
리스 부채 | 16 | (914) | (852) | ||||
매입 채무 |
| (10,808) | (15,497) | ||||
현재 세금 부채 | (125) | (623) | |||||
미지급 비용 및 계약 부채 | 14 |
| (1,159) | (1,276) | |||
기타 유동 부채 | (5,412) | (4,027) | |||||
총 유동 부채 | (18,418) |
| (22,275) |
| |||
비유동 부채 |
| ||||||
차입금 | 13 |
| (2,933) | (8,426) | |||
리스 부채 | 16 |
| (2,029) | (2,159) | |||
이연 법인세 부채 | 8 | (4,015) | (4,773) | ||||
계약 부채 | 14 |
| (293) | (372) | |||
식량 | (160) | (340) | |||||
기타 비유동 부채 | (1,049) | (911) | |||||
비유동 부채 | (10,479) |
| (16,981) | ||||
부채 | (28,897) |
| (39,256) | ||||
순자산 | 77,895 |
| 78,986 | ||||
공평 |
|
|
|
| |||
주식 자본 | 15 | 12,022 | 12,019 | ||||
프리미엄 공유 | 132,798 | 132,798 | |||||
역취득준비금 | (56,762) | (56,762) | |||||
누적 손실 | (12,781) | (11,977) | |||||
기타 준비금 | 2,618 | 2,908 | |||||
지배기업의 소유주에게 귀속되는 자본 | 77,895 | 78,986 | |||||
총 자본 | 77,895 |
| 78,986 |
|
연결자본변동표(미감사)
31년 2023월 XNUMX일 종료
| 부모의 소유자에 귀속 | |||||||||||
| 공유 |
| 공유 |
| 누적 손실 |
| 역취득준비금 |
| 기타 예비 |
| 금액 | |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 | ||||||
1년 2023월 XNUMX일 | 12,019 |
| 132,798 |
| (11,977) |
| (56,762) |
| 2,908 |
| 78,986 | |
순이익 | - |
| - |
| 1,199 |
| - |
| - |
| 1,199 | |
기타종합비용 | - |
| - |
| - |
| - |
| (290) |
| (290) | |
총 포괄 손익 |
| - |
| - |
| 1,199 |
| - |
| (290) |
| 909 |
배당금 지급 | - |
| - |
| (2,644) |
| - |
| - |
| (2,644) | |
주식선택권 행사 | 3 |
| - |
| - |
| - |
| - |
| 3 | |
주식 기반 지불 | - |
| - |
| 641 |
| - |
| - |
| 641 | |
31년 2023월 XNUMX일 기준(미감사) |
| 12,022 |
| 132,798 |
| (12,781) |
| (56,762) |
| 2,618 |
| 77,895 |
| 부모의 소유자에 귀속 | ||||||||||||
| 공유 |
| 공유 |
| 누적 손실 |
| 역취득준비금 |
| 기타 예비 |
| 금액 |
| |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 |
| ||||||
1년 2022월 XNUMX일 | 12,019 |
| 132,798 |
| (11,676) |
| (56,762) |
| 2,420 |
| 78,799 |
| |
순이익 | - |
| - |
| 1,965 |
| - |
| - |
| 1,965 |
| |
기타 포괄 손익 | - |
| - |
| - |
| - |
| 488 |
| 488 |
| |
총 포괄 손익 |
| - |
| - |
| 1,965 |
| - | 488 |
| 2,453 |
| |
배당금 지급 | - |
| - |
| (2,644) |
| - |
| - |
| (2,644) |
| |
주식 기반 지불 | - |
| - |
| 378 |
| - |
| - |
| 378 |
| |
31년 2022월 XNUMX일 |
| 12,019 |
| 132,798 |
| (11,977) |
| (56,762) |
| 2,908 |
| 78,986 |
|
역취득준비금
역취득 적립금은 Animalcare Group plc의 역취득으로 인해 생성된 적립금을 나타냅니다.
기타 예비
기타 준비금은 주로 통화 환산 차이와 관련이 있습니다. 이러한 환율 차이는 스털링이 아닌 기능 통화로 자회사를 환산할 때 발생합니다.
연결현금흐름표(미감사)
31년 2023월 XNUMX일 종료
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| 31 월 XNUMX 일 종료 연도 | |||
노트 | 감사되지 않음 2023 | 2022 | |||||
£'000 | £'000 | ||||||
영업 활동 |
| ||||||
과세 전 소득 | 3,523 | 2,542 | |||||
비현금 및 운영 조정 |
| ||||||
합작 투자 순손실 지분 | 12 | 142 | 52 | ||||
유형 자산의 감가 상각 | 1,092 | 1,118 | |||||
무형 자산의 상각 | 11 | 6,613 | 6,685 | ||||
무형 자산의 손상 | 11 | 22 | 918 | ||||
주식기준보상비용 | 1,278 | 542 | |||||
고정자산처분이익 | - | (146) | |||||
조항의 비현금 이동 | (2) | 202 | |||||
Movement allowance for bad debt, inventories and provisions | 757 | 105 | |||||
금융 수입 | (675) | (260) | |||||
재정 비용 | 1,419 | 1,001 | |||||
외화 영향 | - | (235) | |||||
공정가치 조정 조건부 대가 | - | 140 | |||||
Gain from IFRS 16 lease modification | (9) | (6) | |||||
주식선택권 행사 | 3 | - | |||||
운전자본의 움직임 |
| ||||||
매출채권 증가 | (319) | (5,875) | |||||
재고 감소/(증가) | 2,257 | (2,735) | |||||
(감소)/미지급금의 증가 | (3,261) | 6,706 | |||||
소득세 납부 | (1,913) | (1,325) | |||||
영업활동으로 인한 순현금흐름 | 10,927 | 9,429 | |||||
투자 활동 |
| ||||||
부동산, 플랜트 및 장비 구매 | (52) | (407) | |||||
무형 자산 매입 | (2,501) | (2,540) | |||||
무형자산 매각대금 | - | 153 | |||||
합작 투자의 자본 출자 | 12 | (306) | (325) | ||||
투자 활동에 사용 된 순 현금 흐름 | (2,859) | (3,119) | |||||
금융 활동 |
| ||||||
대출 및 차입금 상환 | (5,252) | (1,320) | |||||
IFRS 16 리스부채 상환 | 16 | (955) | (996) | ||||
배당금 지급 | 15 | (2,644) | (2,644) | ||||
이자 지급 | (646) | (444) | |||||
기타 금융 비용 | (99) | (292) | |||||
재무 활동에 사용된 순 현금 흐름 |
|
|
| (9,596) | (5,696) | ||
Net (decrease)/increase of cash and cash equivalents |
|
|
| (1,528) | 614 | ||
연초 현금 및 현금 등가물 | 6,035 | 5,633 | |||||
현금 및 현금 등가물에 대한 환율 차이 | 135 | (212) | |||||
연말 현금 및 현금 등가물 | 4,642 | 6,035 |
순 부채의 이동에 대한 순 현금 흐름의 조정 |
|
|
|
| |||
해당 연도의 현금 및 현금 등가물의 순(감소)/증가 | (1,528) | 614 | |||||
차입금 감소로 인한 현금흐름 | 5,252 | 1,320 | |||||
현금 및 차입금의 외환차이 | 376 | (715) | |||||
연도 중 순 부채의 움직임 |
|
|
| 4,100 | 1,219 | ||
연초 순 부채 | (5,402) | (5,330) | |||||
당해 연도 중 리스부채의 이동 | 16 | 68 | (1,291) | ||||
연말 순부채 |
|
|
| (1,234) | (5,402) |
미감사 연결재무제표에 대한 주석
31년 2023월 XNUMX일 종료
1. Financial information
The unaudited financial information set out above does not constitute the Company's statutory accounts for the years ended 31 December 2023 and 31 December 2022. The financial information for the year ended 31 December 2022 is derived from the statutory accounts for 2022 which have been delivered to the Registrar of Companies. The Auditor has reported on those accounts; their report was (i) unqualified, (ii) did not include references to any matters to which the auditor drew attention by way of emphasis without qualifying their report and (iii) did not contain a statement under section 498 (2) or (3) of the Companies Act 2006. Information has been extracted from the draft statutory financial statements for the year ended 31 December 2023 which will be delivered to the Registrar of Companies in due course. Accordingly, the financial information for 2023 is presented unaudited in the preliminary announcement.
2. 준비의 기초
The financial information has been prepared in accordance with UK-adopted international accounting standards ("IFRS") and the applicable legal requirements of the Companies Act 2006, except for the revaluation of certain financial instruments. They have also been prepared in accordance with the requirements of the AIM Rules.
3. 중요한 회계정책의 요약
관심가는
As at 31 December 2023, the Group's total facilities of €51.5m, due to expire 31 March 2025, consisted of a committed revolving credit facility (RCF) of €41.5m and a €10.0m acquisition line, the latter of which cannot be utilised to fund operations.
We are currently in discussions with our four syndicate banks to increase our existing RCF from €41.5m to €44.0m with an extension of the maturity date to 31 March 2029. The acquisition line, which was drawn down by €3.4m at the year end, will be settled. We expect to complete the process by the end of April. The covenant requirements in the RCF will remain unchanged from the current RCF agreement, details of which are provided below.
Net debt to underlying EBITDA ratio of 3.5x; underlying EBITDA to interest ratio of minimum 4x; and solvency (total assets less goodwill/total equity less goodwill) greater than 25%. As at 31 December 2023 and throughout the financial year, all covenant requirements were met with significant headroom across all three measures. The principal risks and uncertainties facing the Group are set out in the Strategic Report.
The Directors have prepared cash flow forecasts for a period of at least 12 months from the date of signing of these financial statements (the going concern assessment period). These forecasts indicate that the Group will have sufficient funds and liquidity to meet its obligations as they fall due, in particular when taking into consideration the Group's financial position following the post year end sale of Identicare for £24.9m and taking into account the potential impact of "severe but plausible" downside scenarios to factor in a range of downside revenue estimates and higher than expected inflation across our cost base, with corresponding mitigating actions. The output from these scenarios shows the Group has adequate levels of liquidity due to the cash proceeds received from the disposal of Identicare for the Directors to continue to adopt the going concern basis in preparing the financial statements without making assumptions concerning the extension of the RCF facility due to expire on 31 March 2025, and complies with all its banking covenants associated with the current committed facilities throughout the going concern assessment period.
4. 비기초항목
|
|
| 연말 | ||
감사되지 않음 2023 |
| 2022 | |||
£'000 |
| £'000 | |||
취득 관련 무형자산의 상각 및 손상 |
|
|
|
| |
연구개발비로 분류 | 646 | 667 | |||
일반비와 관리비로 구분 | 3,539 | 3,794 | |||
손상 손실 | 22 | 895 | |||
취득관련 무형자산의 상각총액 및 손상차손 |
|
| 4,207 |
| 5,356 |
구조 조정 비용 | 14 | 282 | |||
취득 및 통합 비용 | - | 335 | |||
무형자산의 손상 | - | 23 | |||
매각 및 사업 처분 | - | (146) | |||
Covid-19 | - | 2 | |||
Long-term incentive plan Identicare Ltd | 801 | 220 | |||
영국 및 스페인 사무실 이전 비용 | 5 | 182 | |||
Expenses related to M&A and business development activities | 193 | - | |||
기타 기본 항목이 아닌 항목 | 178 | 263 | |||
세전 총 비기본 항목 |
|
| 5,398 |
| 6,517 |
세금 영향 | (52) | (910) | |||
세후 총 비 기초 항목 |
|
| 5,346 |
| 5,607 |
다음 표는 2023년과 2022년의 범주별 세전 비기본 항목의 분석을 보여줍니다.
|
| 연말 |
|
| |||
| 감사되지 않음 2023 |
| 2022 |
| |||
| £'000 |
| £'000 |
| |||
|
|
|
| ||||
| 연구개발비로 분류 | 646 |
| 667 | |||
일반비와 관리비로 구분 | 4,340 | 4,013 | |||||
Classified within net other operating expense/(income) | 390 | 919 | |||||
손상 손실 | 22 | 918 | |||||
세전 총 비기본 항목 | 5,398 | 6,517 | |||||
The current year £ 4,340k general and administrative expenses principally encompass amortisation and impairment of acquisition related intangibles of £ 3,539k and a share based payment charge of £ 801k of which £637k is related to the cash settled portion of the share based payment arrangement of Identicare Ltd.
Non-underlying items totalling £ 5,398k (2022: £ 6,517k) relating to profit before tax incurred in the year principally comprise:
- Amortisation and impairment of acquisition-related intangibles of £4,207k (2022: £5,356k). The current year charge comprises amortisation in relation to the reverse acquisition of Ecuphar NV and previous acquisitions made by Ecuphar NV of £4,185k (2022: £4,461k) and a non-cash impairment charge of in-process R&D assets £22k (2022: £895k) that formed part of the acquired development pipeline. The principal driver for the prior year charge was manufacturing challenges that significantly impacted the timing and costs to resume supply with appropriate commercial returns. This brand has subsequently been withdrawn from the market.
- Restructuring costs of £14k (2022: £282k) primarily relate to costs associated with the reorganisation of our Benelux operations.
- 총 £5(2022년: £182)에 달하는 스페인 및 영국 사업장 이전과 관련된 비용에는 일회성 이전 비용과 황폐화 조항이 포함됩니다.
- Expenses relating to M&A and business development activities of £193k (2022: £nil) represent legal and professional fees incurred on these activities, including the disposal of Identicare post year end.
- Other non-underlying items largely relating to legal costs.
5. 구간 정보
The pharmaceutical segment is active in the development and marketing of innovative pharmaceutical products that provide significant benefits to animal health.
The measurement principles used by the Group in preparing this segment reporting are also the basis for segment performance assessment. The Board of Directors of the Group acts as the chief operating decision maker. As a performance indicator, the chief operating decision maker controls performance by the Group's revenue, gross margin, underlying EBITDA and EBITDA. EBITDA is defined by the Group as net profit plus finance expenses, less finance income, plus income taxes and deferred taxes, plus depreciation, amortisation and impairment and is an alternative performance measure. Underlying EBITDA equals EBITDA plus non-underlying items and is an alternative performance measure. EBITDA and underlying EBITDA are reconciled to statutory measures below.
The following table summarises the segment reporting from continuing operations for 2023 and 2022. As management's internal reporting structure is principally revenue and profit-based, the reporting information does not include assets and liabilities by segment and is as such not presented per segment.
31 월 XNUMX 일 종료 연도 | |||||
감사되지 않음 2023 |
2022 | ||||
£'000 | £'000 |
| |||
수익 | 74,351 | 71,616 | |||
총 이익 | 43,346 | 40,659 | |||
총 이익 % | 58 | 57 | |||
세그먼트 기반 EBITDA | 13,327 | 13,131 | |||
세그먼트 기초 EBITDA % | 18 | 18 | |||
세그먼트 EBITDA | 12,136 | 11,993 | |||
세그먼트 EBITDA % | 16 | 17 |
The underlying and segment EBITDA is reconciled with the consolidated net profit for the year as follows:
31 월 XNUMX 일 종료 연도 |
| ||||
감사되지 않음 2023 | 2022 | ||||
£'000 | £'000 | ||||
기본 EBITDA | 13,327 | 13,131 | |||
비경상 비용(상각비 및 손상 제외) | (1,191) | (1,138) | |||
EBITDA | 12,136 |
| 11,993 |
| |
감가상각, 상각 및 손상 | (7,727) | (8,757) | |||
영업 이익 | 4,409 | 3,236 | |||
금융 비용 | (1,419) | (1,752) | |||
금융 수입 | 675 | 1,110 | |||
지분법을 적용하여 회계처리한 조인트벤처의 순손실 비중 | (142) | (52) | |||
소득세 | (1,258) | (1,637) | |||
이연 세금 | (1,066) | 1,060 | |||
해당 기간 동안의 이익 | 1,199 |
| 1,965 |
|
벨기에, 스페인, 포르투갈, 영국 및 기타 지역에 위치한 이연법인세 자산을 제외한 부문 자산은 다음과 같습니다.
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
벨기에 | 9,484 | 7,510 | |||
스페인 | 3,458 | 3,695 | |||
포르투갈 | 4,080 | 4,234 | |||
UK | 56,252 | 59,184 | |||
기타 | 2,377 | 6,260 | |||
이연법인세자산을 제외한 비유동자산 | 75,651 | 80,883 |
제품 카테고리별 수익
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
반려동물 | 52,214 | 50,217 | |||
생산 동물 | 15,790 | 15,674 | |||
말 | 6,339 | 5,698 | |||
기타 | 8 | 27 | |||
금액 | 74,351 | 71,616 |
지역별 수익
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
벨기에 | 3,560 | 3,354 | |||
네덜란드 | 2,115 | 1,627 | |||
영국 | 16,860 | 15,257 | |||
독일 | 10,045 | 10,056 | |||
스페인 | 20,419 | 19,724 | |||
이탈리아 | 8,785 | 8,404 | |||
포르투갈 | 4,357 | 4,215 | |||
유럽 연합 - 기타 | 6,875 | 7,199 | |||
아시아 | 490 | 494 | |||
중동 및 아프리카 | 12 | 17 | |||
기타 | 833 | 1,269 | |||
금액 | 74,351 | 71,616 |
카테고리별 수익
|
| 31 월 XNUMX 일 종료 연도 | ||
감사되지 않음 2023 | 2022 | |||
£'000 | £'000 | |||
제품 판매 | 71,411 | 69,642 | ||
서비스 판매 | 2,940 | 1,974 | ||
금액 | 74,351 | 71,616 |
제품 수익은 수행의무가 특정 시점에 충족될 때 인식됩니다. 용역수익은 완료단계를 기준으로 인식하고 있습니다.
6. 금융비용
금융 비용에는 다음 요소가 포함됩니다.
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
이자 비용 | 646 | 444 | |||
외화 손실 | 456 | 985 | |||
Unwind of discount on other liabilities | 104 | 124 | |||
기타 금융 비용 | 213 | 199 | |||
금액 | 1,419 | 1,752 |
7. 금융소득
금융소득에는 다음 요소가 포함됩니다.
|
| 31 월 XNUMX 일 종료 연도 | ||
감사되지 않음 2023 | 2022 | |||
£'000 | £'000 | |||
외화 환차익 | 501 | 1,060 | ||
금융자산 소득 | 124 | 39 | ||
기타금융소득 | 50 | 11 | ||
금액 | 675 | 1,110 |
8. 소득세
현재 세금 부채
Current tax liabilities solely relate to income taxes of £ 125k (2022: £ 623k).
다음 표는 2023년과 2022년의 세금 비용 내역을 보여줍니다.
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
현재 세금 부과 | (1,354) | (1,685) | |||
전년도에 대한 세금 조정 | 96 | 48 |
| ||
총 현재 세금 | (1,258) | (1,637) |
| ||
이연 법인세 - 일시적 차이의 발생 및 취소 | (945) | 774 |
| ||
이연 법인세 - 전년도에 대한 조정 | (121) | 286 |
| ||
총 이연법인세(수수료)/크레딧 | (1,066) | 1,060 |
| ||
해당 연도의 총 세금 비용 | (2,324) | (577) |
|
총 세금 비용은 다음과 같이 회계 이익과 조정될 수 있습니다.
|
| 31 월 XNUMX 일 종료 연도 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
과세 전 소득 | 3,523 | 2,542 | |||
합작투자 순손실 비중 | 142 | 52 |
| ||
Profit before tax, excl. share in net loss of joint venture | 3,665 | 2,594 |
| ||
세금 23.5% (2022년: 19.0%) | (861) | (493) |
| ||
의 효과: |
| ||||
해외 세율 | (66) | (389) |
| ||
공제할 수 없는 비용 | (432) | (99) |
| ||
이전에 인식하지 못한 세무상 결손금의 사용 | - | (24) |
| ||
법정세율의 변경 | (1,001) | 93 |
| ||
전년도에 대한 세금 조정 | (25) | 334 |
| ||
당기 결손금에 대한 이연법인세 미인식 | (15) | (21) |
| ||
Non-recognised deferred tax assets on timing differences | 108 | 15 |
| ||
R&D 구호 | - | 53 |
| ||
기타 | (32) | (46) |
| ||
연결손익계산서에 보고된 법인세비용 | (2,324) | (577) |
|
의 세금 공제 £ 52k (2022: 신용 £ 910k) shown within "Non-underlying items" on the face of the consolidated income statement, which forms part of the overall tax charge of £ 2,324k (2022: £ 577k), relates to the items in note 4.
에 사용된 세율은 2023 및 2022 reconciliation above are the corporate tax rates of 25.0% (Belgium), 19.0% (the Netherlands), 30.7% (Germany), 33.0% (France), 25.0% (Spain), 24.0% (Italy), 21.0% (Portugal) and 23.5% (the United Kingdom rate representing a blended rate of 19.0% up until 1 April 2023 then 25.0% thereafter). These taxes are payable by corporate entities in the above-mentioned countries on taxable profits under tax law in that jurisdiction.
대차대조표일 현재 이연세는 영국 제정 세율(25년 1월 2023일부터 XNUMX%)을 사용하여 측정되었습니다.
이연 법인세
(XNUMX) 인식된 이연법인세 자산과 부채
|
| 자산 |
| 부채 |
| 금액 | ||||||
감사되지 않음 2023 | 2022 |
| 감사되지 않음 2023 |
| 2022 |
| 감사되지 않음 2023 |
| 2022 | |||
£'000 | £'000 | £'000 | £'000 | £'000 | £'000 | |||||||
친선 | - | - | (1,444) | (1,290) | (1,444) | (1,290) | ||||||
무형 자산 | 335 | 329 | (2,860) | (2,722) | (2,525) | (2,393) | ||||||
재산, 식물 및 장비 | - | - | (645) | (707) | (645) | (707) | ||||||
금융 고정 자산 | 1 | 1 | - | - | 1 | 1 | ||||||
목록 | - | - | (54) | (54) | (54) | (54) | ||||||
매출채권및기타채권/(지급채무) | 30 | 71 | - | - | 30 | 71 | ||||||
차입금 | 580 | 565 | - | - | 580 | 565 | ||||||
식량 | - | 4 | - | - | - | 4 | ||||||
발생 및 이연 소득 | 132 | 32 | - | - | 132 | 32 | ||||||
이월된 세금 손실 | 1,636 | 2,565 | - | - | 1,636 | 2,565 | ||||||
금액 | 2,714 | 3,567 | (5,003) | (4,773) | (2,289) | (1,206) |
The table above presents deferred tax assets and liabilities on a gross basis prior to allowable offsetting within tax jurisdictions as presented on the face of the Consolidated statement of financial position.
(b) 연중 변동
2023년 이연 법인세 이동:
|
|
|
|
|
|
|
|
|
1년 2023월 XNUMX일 기준 잔액 | 소득으로 인정 |
| 외환 조정 |
| 31월 XNUMX일 현재 잔액 미감사 2023 | |||
£'000 | £'000 |
| £'000 |
| £'000 | |||
친선 | (1,290) | (181) | 27 | (1,444) | ||||
무형 자산 | (2,393) | (125) | (7) | (2,525) | ||||
재산, 식물 및 장비 | (707) | 48 | 14 | (645) | ||||
금융 고정 자산 | 1 | - | - | 1 | ||||
목록 | (54) | - | - | (54) | ||||
매출채권및기타채권/(지급채무) | 71 | (28) | (13) | 30 | ||||
발생 및 이연 소득 | 32 | 100 | - | 132 | ||||
차입금 | 565 | 26 | (11) | 580 | ||||
식량 | 4 | - | (4) | - | ||||
세금 결손금 이월 및 기타 세금 혜택 | 2,565 | (906) | (23) | 1,636 | ||||
순 이연 법인세 |
| (1,206) |
| (1,066) |
| (17) |
| (2,289) |
2022년 이연 법인세 이동:
1년 2022월 XNUMX일 잔액 | 소득으로 인정 |
| 외환 조정 |
| 31 년 2022 월 XNUMX 일 잔액 | |||
£'000 | £'000 | £'000 | £'000 | |||||
친선 | (1,048) | (176) | (66) | (1,290) | ||||
무형 자산 | (3,192) | 782 | 17 | (2,393) | ||||
재산, 식물 및 장비 | (381) | (296) | (30) | (707) | ||||
금융 고정 자산 | 1 | - | - | 1 | ||||
목록 | (51) | - | (3) | (54) | ||||
매출채권및기타채권/(지급채무) | 153 | (62) | (20) | 71 | ||||
발생 및 이연 소득 | 53 | (23) | 2 | 32 | ||||
차입금 | 405 | 133 | 27 | 565 | ||||
식량 | 3 | - | 1 | 4 | ||||
세금 결손금 이월 및 기타 세금 혜택 | 1,749 | 702 | 114 | 2,565 | ||||
순 이연 법인세 |
| (2,308) | 1,060 | 42 | (1,206) |
세금 손실
연결실체는 6,549파운드에 해당하는 미사용 세금 손실, 세금 공제 및 명목 이자 공제가 있습니다. 2023 (2022: £11,361k). The tax losses carry forward indefinitely, as there is no expiration date prescribed for their utilisation.
일부 법인에 대해 이월된 가용 법인세 결손금에 대해 이연 법인세 자산을 인식하여 다음 금액으로 인식했습니다. £ 1,636k (2022: £ 2,565k). This was based on management's estimate that sufficient positive taxable profits will be generated in the near future for the related legal entities with fiscal losses. It is expected that £325k of the deferred tax asset will be recovered within the next 12 months and the remaining £1,311k of the deferred tax asset will be recovered after 12 months.
The non-recognised deferred tax assets of Ecuphar NV on temporary differences decreased by £ 108k in 2023 (2022: £ 15k). The total unrecognised tax losses as at 31 December 2023 were £2,497k (2022: £2,605k).
9. 주당순이익
희석주당이익은 지배회사의 보통주에 귀속되는 순이익을 당해 연도의 가중평균유통보통주식수에 모든 잠재전환으로 발행될 가중평균보통주식수를 더한 값으로 나누어 계산합니다. 희석성보통주.
주당순이익 계산에는 다음 소득 및 주식 데이터가 사용되었습니다.
Profit before continuing operations
|
|
| ||||
31 월 XNUMX 일 종료 연도 |
| |||||
감사되지 않음 2023 | 2022 | 감사되지 않음 2023 | 2022 | |||
Underlying | Underlying | 금액 | 금액 | |||
£'000 | £'000 | £'000 | £'000 | |||
올해 순이익 | 6,545 | 7,572 | 1,199 | 1,965 | ||
Net profit attributable to ordinary equity | 6,545 | 7,572 | 1,199 | 1,965 | ||
평균 주식 수(기본 및 희석)
|
| 31 월 XNUMX 일 종료 연도 | |||||||
감사되지 않음 2023 | 2022 | 감사되지 않음 2023 | 2022 | ||||||
주식수 | Underlying | Underlying |
| 금액 | 금액 | ||||
가중평균보통주식수 | 60,231,020 | 60,175,407 |
| 60,231,020 | 60,175,407 | ||||
희석성 잠재적 보통주옵션 | 423,222 | 629,087 |
| 423,222 | 629,087 | ||||
가중평균보통주식수 | 60,654,242 | 60,804,494 |
| 60,654,242 | 60,804,494 | ||||
주당 기본 수입
|
| 31 월 XNUMX 일 종료 연도 | ||||||
감사되지 않음 2023 | 2022 | 감사되지 않음 2023 | 2022 | |||||
Underlying | Underlying | 금액 | 금액 | |||||
펜스 | 펜스 | 펜스 | 펜스 | |||||
통상적인 업무에 귀속되는 영업으로부터 | 10.9 | 12.6 | 2.0 | 3.3 | ||||
기본주당순이익 합계액은 다음과 같습니다. |
| 10.9 | 12.6 |
| 2.0 | 3.3 |
희석 주당 이익
|
| 31 월 XNUMX 일 종료 연도 | ||||||
감사되지 않음 2023 | 2022 | 감사되지 않음 2023 | 2022 | |||||
Underlying | Underlying | 금액 | 금액 | |||||
펜스 | 펜스 | 펜스 | 펜스 | |||||
통상적인 업무에 귀속되는 영업으로부터 | 10.8 | 12.5 | 2.0 | 3.2 | ||||
총희석주당순이익 귀속 |
| 10.8 | 12.5 |
| 2.0 | 3.2 |
10. 영업권
On acquisition, goodwill acquired in a business combination is allocated to the cash-generating units ("CGUs") which are expected to benefit from that business combination. This CGU corresponds to the nature of the business, being pharmaceuticals. The goodwill has been allocated to the CGU as follows:
|
| 31 월 XNUMX 일 종료 연도 |
|
| |||
감사되지 않음 2023 | 2022 | ||||||
£'000 | £'000 |
| |||||
|
| ||||||
CGU: 제약 | 50,656 | 50,853 | |||||
금액 |
| 50,656 | 50,853 |
| |||
2023년과 2022년 영업권 장부가치의 변화는 다음과 같이 표시될 수 있습니다.
금액 | ||
£'000 | ||
1년 2022월 XNUMX일 현재 |
| 50,337 |
통화 환산 | 516 | |
31년 2022월 XNUMX일 현재 |
| 50,853 |
1년 2023월 XNUMX일 현재 |
| 50,853 |
통화 환산 | (197) | |
31년 2023월 XNUMX일 현재 |
| 50,656 |
Goodwill allocated to the pharmaceuticals CGU includes goodwill recognised as a result of past business combinations of Esteve, Equipharma NV, Ecuphar BV, Cardon Pharmaceuticals NV and more significantly following the reverse acquisition of Animalcare Group plc in 2017 which gave rise to goodwill of £41,048k.
사용가치 계산에 사용된 할인율과 성장률(영구)은 다음과 같습니다.
감사되지 않음 2023 |
2022 | ||
할인율(세전) % | 13.3 | 14.2 | |
성장률(영구) % | 2.0 | 2.0 |
Cash flow forecasts are prepared using the current operating budget approved by the Directors, which covers a five-year period and an appropriate extrapolation of cash flows, using the long-term growth rate, beyond this. The cash flow forecasts assume revenue and profit growth in line with our strategic priorities. Further, we have assessed the potential impact of climate change, with reference to our principal risks and the environmental disclosures made in the Sustainability Report and consider that the impact on the valuation of goodwill is limited.
연결실체의 손상검토는 사용된 가정, 특히 할인율과 영구성장률의 변화에 민감합니다.
할인율이 1.0% 증가하면 CGU의 사용 가치가 £18.0m만큼 감소하지만 손상이 발생하지는 않습니다. 영구 성장률이 1.0% 감소하면 CGU의 사용 가치가 £13.7m 감소하지만 손상이 발생하지는 않습니다.
11. 무형자산
2023년과 2022년 무형자산의 장부가치 변동은 다음과 같이 나타낼 수 있습니다.
R&D 자산 | 특허, 배포권 및 라이센스 | 제품 포트폴리오 및 제품 개발 비용 | 대문자 소프트웨어 | 건설중인 무형자산 |
| |
| £'000 | £'000 | £'000 | £'000 | £'000 | £'000 |
취득 가치/비용 |
| |||||
1년 2022월 XNUMX일 현재 | 12,446 | 18,248 | 39,567 | 3,090 | 494 | 73,845 |
추가 | 719 | - | 603 | 1,218 | - | 2,540 |
폐기 | (982) | - | (90) | (55) | (4) | (1,131) |
Transfers | 375 | - | - | - | (375) | - |
통화 환산 | 241 | 760 | 978 | 146 | 12 | 2,137 |
31년 2022월 XNUMX일 현재 | 12,799 | 19,008 | 41,058 | 4,399 | 127 | 77,391 |
추가 | 294 | 29 | 452 | 889 | 427 | 2,091 |
폐기 | (52) | - | - | (261) | - | (313) |
Transfers | (204) | 31 | 485 | 37 | (349) | - |
통화 환산 | (94) | (291) | (372) | (61) | (2) | (820) |
31년 2023월 XNUMX일 현재 (감사하지 않음) | 12,743 | 18,777 | 41,623 | 5,003 | 203 | 78,349 |
상각 |
| |||||
1년 2022월 XNUMX일 현재 | (4,955) | (14,374) | (22,417) | (1,886) | - | (43,632) |
상각 | (1,239) | (1,325) | (3,233) | (888) | - | (6,685) |
폐기 | 676 | - | 89 | 61 | - | 826 |
장애 | (868) | - | (32) | (18) | - | (918) |
통화 환산 | (151) | (693) | (753) | (102) | - | (1,699) |
31년 2022월 XNUMX일 현재 | (6,537) | (16,392) | (26,346) | (2,833) | - | (52,108) |
상각 | (1,019) | (1,061) | (3,209) | (1,324) | - | (6,613) |
폐기 | 52 | - | - | 261 | - | 313 |
장애 | (22) | - | - | - | - | (22) |
통화 환산 | 58 | 268 | 297 | 42 | - | 665 |
31년 2023월 XNUMX일 현재 | (7,468) | (17,185) | (29,258) | (3,854) | - | (57,765) |
순장부금액 |
| |||||
31년 2023월 XNUMX일 현재 | 5,275 | 1,592 | 12,365 | 1,149 | 203 | 20,584 |
31 년 2022 월 XNUMX 일 기준 | 6,262 | 2,616 | 14,712 | 1,566 | 127 | 25,283 |
|
R&D relates to acquired development projects as part of the Esteve business combination in 2015, the reverse acquisition of Animalcare Group plc in 2017 and external and internal R&D costs for which the capitalisation criteria are met. Patents, distribution rights and licenses include amounts paid for exclusive distribution rights as well as distribution rights acquired as part of the Esteve business combination in 2015 and the reverse acquisition of Animalcare Group plc in 2017.
제품 포트폴리오 및 제품 개발 비용은 인수한 브랜드에 대해 지불한 금액과 자본화 기준이 충족되는 파이프라인의 개발 프로젝트에서 자본화된 외부 및 내부 제품 개발 비용과 관련이 있습니다.
The net book value of non-commercialised development projects is £2,047k (2022: £1,513k) and is allocated to R&D assets for £1,613k and Product Portfolios and product development costs for £434k. No amortisation was charged.
자본화된 소프트웨어에는 Identicare Ltd.와 관련된 가속화된 CRM 소프트웨어 투자와 웹사이트 및 플랫폼 개발에 의해 주도되는 IT가 포함됩니다.
에 대한 총 상각 비용 2023 is £ 6,613k (2022: £ 6,685k), which is included in lines R&D expenses, selling and marketing expenses and general and administrative expenses of the consolidated income statement. Included in the total amortisation charge is £4,185k (2022: £4,461k) relating to acquisition-related intangibles and £2,428k (2022: £2,224k) relating to other intangibles.
A total impairment charge of £ 22k (2022: £ 918k) was recorded during the financial year. Thereof £22k (2022: £895k) is related to a non-cash impairment charge of acquisition-related intangibles of R&D assets. In 2023, Animalcare Group plc invested £ 2,091k (2022: £ 2,540k) in intangible assets.
On 24 March 2022 the Group entered into two early-stage agreements with Netherlands-based Orthros Medical, a company focused on the research and early development of VHH antibodies, also known as small single-chain antibody fragments. Under the terms of the deal, Animalcare has made upfront payments to Orthros Medical totalling €400k in the prior year, and €200k during the period. Of which €530k is recognised as intangible asset under "Product portfolios and product development costs". As the two licensed preclinical candidates progress, Orthros Medical may receive development, regulatory and commercial milestone payments up to a total value of €11m, a significant proportion of which are linked to successful commercialisation. In addition, single digit royalties will be due on the net sales of the products. These payments are expected to be paid out of the Group's operating cash flow.
The transfers of intangible assets under construction involves the allocation of internally generated assets to various R&D projects, including those relating to patents, distribution rights, licences, as well as product portfolios and development costs. Transfers from R&D assets to product portfolios and development costs occur when an R&D project advances to a stage where it is ready for commercialisation. Subsequently, the transferred value of these assets initiates depreciation in accordance with their remaining useful life.
12. Investments in joint ventures
On 28 September 2020 the Group announced that it has entered into an agreement with Canada-based biotech company Kane Biotech Inc. under which the parties formed STEM Animal Health Inc. ("STEM"), a company dedicated to treating biofilm-related ailments in animals. The Group acquired, via its 100% subsidiary Ecuphar NV, 33.34% in STEM for a cash consideration of CAD$3m, of which CAD$2.0m was paid in prior years, CAD$0.5m (£306k) during the financial year and CAD$0.5m payable in September 2024. Both the remaining equity investment in STEM and the licensing fee are expected to be paid from existing cash resources.
The Group has a call option, for a period until 28 September 2026, to acquire an additional 18% stake in STEM for CAD$4m. Based on the existing voting rights (33.34%) and other contractual arrangements, the Group does not have power over the investee. Accordingly, the investment in STEM is accounted for through the equity method in the consolidated financial statements.
Separately, the Group also entered into a licensing agreement, under which it will invest a further CAD$2m, consisting of an initial payment along with a series of potential payments linked to various milestones, for rights to commercialise products in global veterinary markets outside the Americas.
STEM에 대한 나머지 지분 투자와 라이선스 비용은 모두 기존 현금 자원에서 지불될 것으로 예상됩니다.
The Group has made license payments totalling CAD$1.2m, of which CAD$0.7m was paid during the current financial year. The first sales-related milestone is expected to be paid in 2024, resulting in a short-term payment of CAD$387k or £229k. The second and final sales-related milestone is due after 2024, hence considered as a long-term payable, the expected settlement amount of which is CAD$361k or £214k.
Further, for the capital contribution, the outstanding short-term liability is £297k (2022: £292k), shown in the balance sheet as other current liability.
엔티티 이름 | 사업장/ | 소유 지분의 % | 관계의 본질 | 측정 방법 | 장부 금액 | ||
2023 | 2022 | 감사되지 않음 2023 | 2022 | ||||
£'000 | £'000 | ||||||
STEM 동물 건강 Inc. | Canada | 33.34% | 33.34% | 합작 | 지분법 | 1,119 | 1,305 |
아래 표는 그룹에 중요한 STEM Animal Health Inc.의 합작 투자에 대한 요약된 재무 정보를 제공합니다. 먼저 공시되는 정보에는 해당 합작회사의 재무제표에 표시된 금액과 그 금액 중 애니멀케어의 지분이 반영됩니다.
감사되지 않음 연말 |
연말 | |||
£'000 | £'000 | |||
비유동 자산 | 94 | 321 | ||
유동 자산 | 1,459 | 1,511 | ||
총자산 | 1,553 | 1,832 | ||
|
| |||
유동 부채 | 865 | 825 | ||
총 부채 | 865 | 825 | ||
|
| |||
순자산 | 688 | 1,007 | ||
그룹 공유 | 229 | 336 | ||
친선 | 570 | 561 | ||
공정가치로 식별된 무형자산 | 435 | 555 | ||
이연 법인세 | (115) | (147) | ||
합작 투자 가치 | 1,119 | 1,305 |
요약 포괄손익계산서:
감사되지 않음 연말 | 연말 | |
£'000 | £'000 | |
세일즈 | 1,576 | 1,581 |
운영 비용 | (1,872) | (1,651) |
재무 결과, 순 | 12 | 65 |
올해 순손실 | (284) | (5) |
그룹 당기순손실 비중 | (95) | (2) |
무형고정자산의 공정가치 조정 감가상각(이연법인세 차감) | (47) | (50) |
해당 연도 순손실의 총 그룹 지분 | (142) | (52) |
기타포괄(비용)/수입 | (44) | 67 |
Group share in total comprehensive (expense)/income | (186) | 15 |
연결재무제표에서 앞서 언급한 재무정보와 STEM Animal Health Inc.의 투자 순장부금액의 조정:
감사되지 않음 연말 |
연말 | |
£'000 | £'000 | |
1월 XNUMX일 현재 | 1,305 | 1,290 |
그룹 당기순손실 비중 | (142) | (52) |
외화 환산 차이 | (44) | 67 |
31월 XNUMX일 현재 | 1,119 | 1,305 |
13. 차입금
대출 및 차입금에는 다음이 포함됩니다.
|
|
|
|
|
| 연말 |
| ||
관심 | 성숙 | 감사되지 않음 2023 |
|
2022 |
| ||||
£'000 | £'000 | ||||||||
회전 신용 시설 | 유리보르 +1.50% | 25월 XNUMX | - | 4,435 | |||||
인수 대출 | 유리보르 +1.75% | 25월 XNUMX | 2,933 | 3,991 | |||||
리스 부채 | 참고 16 참조 | 2,943 | 3,011 | ||||||
총 대출 및 차입금 | 5,876 |
| 11,437 |
| |||||
그 중 |
| ||||||||
비유류 | 4,962 | 10,585 | |||||||
Current | 914 | 852 |
대출 시설
As at 31 December 2023, the Group had total facilities of €51.5m, due to expire 31 March 2025, provided by a syndicate of four banks, comprising a committed revolving credit facility (RCF) of €41.5m and a €10.0m acquisition line, the latter of which cannot be utilised to fund operations.
The loans have a variable, Euribor-based interest rate, increased with a margin of 1.50% or 1.75%. The revolving credit facilities and the acquisition financing had a bullet maturity in March 2025.
We are currently in discussions with our four syndicate banks to increase our existing RCF from €41.5m to €44.0m with an extension of the maturity date to 31 March 2029. The acquisition line, which was drawn down by €3.4m at the year end, will be settled. We expect to complete the process by the end of April. The covenant requirements in the RCF will remain unchanged from the current RCF agreement, details of which are provided below.
그룹은 통화 간 현금 풀링을 통해 은행 업무를 중앙에서 관리합니다. 그룹의 순이자 지불 위치를 최적화하기 위해 자금은 매일 다양한 은행 계좌에서 중앙 은행 계좌로 이체됩니다.
시설은 항상 운영되는 다음 계약의 적용을 받습니다.
- Net debt to underlying EBITDA ratio of 3.5x;
- Underlying EBITDA to interest ratio of minimum 4x; and
- 지급 여력(총 자산에서 영업권을 뺀 금액/총 자본에서 영업권을 뺀 금액)이 25%를 초과합니다.
Net cash at the year end, pre IFRS16 leases, was £1.7m (31 December 2022: £2.4 million debt) with the RCF unutilised, leaving headroom of £40.7m excluding the undrawn acquisition line.
31년 2023월 XNUMX일 현재와 회계연도 전반에 걸쳐 모든 약정 요건은 세 가지 조치 모두에 걸쳐 상당한 여유를 가지고 충족되었습니다.
순 부채 조정
|
| 31월 XNUMX일 현재 |
| ||
감사되지 않음 2023 | 2022 | ||||
£'000 | £'000 |
| |||
순 부채 |
| ||||
현금 및 현금성 자산 | 4,642 | 6,035 | |||
차입금 | (2,933) | (8,426) | |||
리스 부채 | (2,943) | (3,011) | |||
금액 |
| (1,234) | (5,402) |
|
|
| 재무활동으로 인한 부채 |
|
| 기타 자산 |
|
|
| |||
차입금 |
| 임대 |
|
| 현금 |
| 금액 |
| |||
£'000 |
| £'000 |
|
| £'000 |
| £'000 |
| |||
1년 2022월 XNUMX일 기준 순부채 | (9,244) | (1,720) | 5,633 | (5,331) | |||||||
자금 조달 현금 흐름 | 1,320 | 1,086 | 614 | 3,020 | |||||||
신규 임대 | - | (2,142) | - | (2,142) | |||||||
외환 조정 | (148) | (145) | (212) | (506) | |||||||
이자 비용 | (354) | (90) | - | (444) | |||||||
31년 2022월 XNUMX일 현재 순부채 |
| (8,426) |
| (3,011) |
|
| 6,035 |
|
| (5,402) |
|
자금 조달 현금 흐름 | 5,780 | 1,073 | (1,528) | 5,325 | |||||||
신규 임대 | - | (941) | - | (941) | |||||||
외환 조정 | 241 | 54 | 135 | 430 | |||||||
이자 비용 | (528) | (118) | - | (646) | |||||||
31년 2023월 XNUMX일 기준 순부채(미감사) |
| (2,933) |
| (2,943) |
|
| 4,642 |
|
| (1,234) |
14. Accrued charges and contract liabilities
미지급 비용 및 계약 부채는 다음으로 구성됩니다.
|
| 연말 |
| ||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
발생한 요금 | 286 | 777 | |||
계약 부채 - XNUMX년 이내 | 873 | 512 | |||
기타 | - | (13) | |||
XNUMX년 이내 총액 | 1,159 | 1,276 | |||
계약 부채 - XNUMX년 후 만기 | 293 | 372 |
Accrued charges of £ 286k (2022: £ 777k) mainly include Ecuphar NV (£89k), Belphar (£20k) and UK (£166k) and are mostly related to payroll and accrued bank interest costs.
계약부채는 그룹의 자회사인 Identicare Limited가 판매한 특정 서비스에서 발생하는 부채입니다.
Historically, and in return for a single upfront payment, Identicare Limited committed to providing certain database, pet reunification and other support services to customers over the life of the pet. There is no contractual restriction on the number of times the customer makes use of the services. At the commencement of the contract, it is not possible to determine how many times the customer will make use of the services, nor does historical evidence provide indications of any future pattern of use. As such, income is recognised evenly over the term of the contract, currently between five and 14 years.
내내 2023, Identicare Limited also operated both monthly and annual subscription-based services to pet owners, with income recognised accordingly over the period of the subscription.
연결실체의 계약부채 미결 테이블의 변동:
31 월 XNUMX 일 종료 연도 | ||||
감사되지 않음 2023 | 2022 | |||
£'000 | £'000 | |||
연초 잔액 | 884 | 843 | ||
다음 연도에 대한 계약 부채 | 815 | 418 | ||
이전 연도의 계약 부채 해제 | (533) | (377) | ||
연말 잔액 |
| 1,166 | 884 |
계약부채는 다음과 같이 발생합니다.
31 월 XNUMX 일 종료 연도 |
| ||||
감사되지 않음 2023 | 2022 |
| |||
£'000 | £'000 |
| |||
XNUMX 년 이내 | 873 | 512 | |||
XNUMX년 후 | 293 | 372 | |||
연말 잔액 | 1,166 | 884 |
15. Equity
주식 자본
| 연말 | |||||
주식수 | 감사되지 않음 2023 | 2022 | ||||
Allotted, called up and fully paid ordinary shares of 20 pence each | 60,107,926 | 60,092,161 |
연말 | ||||||
감사되지 않음 2023 | 2022 | |||||
£'000 | £'000 | |||||
Allotted, called up and fully paid ordinary shares of 20 pence each | 12,022 | 12,019 |
31년 2023월 XNUMX일에 종료된 회계연도 동안 다음과 같은 주식 거래가 이루어졌습니다.
연말 | ||||||
주식수 | £'000 | |||||
1년 2023월 XNUMX일 | 60,092,161 | 12,019 | ||||
주식선택권 행사 |
|
| 15,765 | 3 | ||
31년 2023월 XNUMX일 기준(미감사) |
|
| 60,107,926 | 12,022 |
배당
연말 | ||||
|
| 감사되지 않음 2023 | 2022 | |
|
| £'000 | £'000 | |
Ordinary final dividend as at 31 December 2021 of 2.4 pence per share | - | 1,442 | ||
Ordinary interim dividend paid as at 31 December 2022 of 2.0 pence per share | - | 1,202 | ||
Ordinary final dividend as at 31 December 2022 of 2.4 pence per share | 1,442 | - | ||
Ordinary interim dividend paid as at 31 December 2023 of 2.0 pence per share | 1,202 | - | ||
|
| 2,644 | 2,644 |
The interim dividend of 2.0 pence per share was paid in November 2023.
이사회는 주당 3.0펜스(2022년: 주당 2.4펜스)의 최종 배당금을 제안하고 있습니다. 20년 2024월 19일에 열리는 연례 주주총회에서 주주 승인을 거쳐 최종 배당금은 2024년 21월 2024일 업무 종료 시 회원 등록에 이름이 등재된 주주에게 20년 2024월 XNUMX일 지급됩니다. 보통주는 다음과 같습니다. XNUMX년 XNUMX월 XNUMX일에 배당락됩니다.
16. IFRS 16 Leases
대차대조표에는 31년 2023월 XNUMX일 현재 임대와 관련된 다음 금액이 표시됩니다.
감사되지 않음 31 년 2023 월 XNUMX 일 기준 |
31 년 2022 월 XNUMX 일 기준 | ||
£'000 | £'000 | ||
건물 | 1,585 | 1,639 | |
차량 | 1,220 | 1,257 | |
기타 | 14 | 28 | |
총 사용권 자산 | 2,819 | 2,924 | |
| |||
유동리스부채 | 914 | 852 | |
비유동리스부채 | 2,029 | 2,159 | |
총 리스부채 | 2,943 | 3,011 |
다음은 인식된 사용권 자산의 장부금액과 당해 연도의 변동입니다.
토지와 건물 | 차량 |
| 기타 |
| 금액 | ||
£'000 | £'000 | £'000 | £'000 | ||||
취득 가치/비용 |
|
|
|
| |||
1년 2022월 XNUMX일 현재 | 1,527 | 2,290 | 16 | 3,833 | |||
추가 | 1,343 | 678 | 30 | 2,051 | |||
폐기 | (855) | (415) | (14) | (1,284) | |||
통화 환산 | 104 | 128 | 1 | 233 | |||
계약 수정 | (5) | 75 | - | 70 | |||
31 년 2022 월 XNUMX 일 기준 | 2,114 | 2,756 | 33 | 4,903 | |||
추가 | - | 678 | 4 | 682 | |||
폐기 | - | (682) | (4) | (686) | |||
통화 환산 | (41) | (50) | - | (91) | |||
계약 수정 | 287 | (5) | (14) | 268 | |||
31년 2023월 XNUMX일 기준(미감사) | 2,360 | 2,697 | 19 | 5,076 | |||
|
|
|
| ||||
감가 상각 |
|
|
|
| |||
1년 2022월 XNUMX일 현재 | (948) | (1,211) | (16) | (2,175) | |||
해당 연도의 감가상각비 | (358) | (662) | (3) | (1,023) | |||
폐기 | 855 | 415 | 14 | 1,284 | |||
계약 수정 | - | 27 | - | 27 | |||
통화 환산 | (24) | (68) | - | (92) | |||
31 년 2022 월 XNUMX 일 기준 | (475) | (1,499) | (5) | (1,979) | |||
해당 연도의 감가상각비 | (310) | (687) | (4) | (1,001) | |||
폐기 | - | 682 | 4 | 686 | |||
통화 환산 | 10 | 27 | - | 37 | |||
31년 2023월 XNUMX일 기준(미감사) | (775) | (1,477) | (5) | (2,257) | |||
|
|
|
| ||||
순 장부가 |
|
|
|
| |||
31년 2022월 XNUMX일 | 1,585 | 1,220 | 14 | 2,819 |
다음은 해당 연도의 리스 부채 변동에 대한 값입니다.
임대 책임 | ||
£'000 | ||
1년 2023월 XNUMX일 현재 | 3,011 | |
추가 | 677 | |
이자 비용 | 118 | |
결제 수단 | (1,073) | |
수정 | 264 | |
통화 환산 조정 | (54) | |
31년 2023월 XNUMX일 기준(미감사) | 2,943 |
손익계산서에 인식되는 금액은 다음과 같습니다.
| 감사되지 않음 31년 2023월 XNUMX일로 종료되는 연도에 대해 |
£'000 | |
사용권 자산의 감가상각비 | (1,001) |
리스 부채에 대한이자 비용 | (118) |
Gain on IFRS 16 modification | 9 |
단기리스 및 소액자산 관련 비용 | (180) |
손익계산서에 인식된 총액 | (1,290) |
리스와 관련된 현금흐름은 다음과 같습니다.
· 금융 활동의 현금 흐름으로 리스 부채의 주요 부분에 대한 현금 지불;
· 그룹이 선택한 이자 지급 표시와 일치하는 이자 부분에 대한 현금 지급 그리고
· 리스부채 측정에 포함되지 않은 단기리스료, 소액자산 리스료 및 변동리스료는 영업활동으로 인한 현금흐름입니다. In the current and prior year, the cashflow for these items equalled the charge to the income statement.
17. Contingent liability relating to the sale of Medini NV
On 3 September 2018 Ecuphar NV sold the wholesale business Medini NV to Vetdis Holding NV (Vetdis) under a Share Purchase Agreement ("SPA"). In June 2019 Vetdis sent a letter to Ecuphar claiming that Ecuphar had breached the SPA. Ecuphar disputes the majority of the claim; however, Ecuphar considers it likely that a part of the claim, amounting to €157,988 (£139,988), may be valid. Following various discussions and correspondence, during which the parties were unable to reach any agreement, Vetdis issued formal court papers on 29 May 2020. A full court hearing to consider the case took place in the Commercial Court in Bruges on 2 March 2021. The court did not decide on the merits of the claim; instead it appointed an expert auditor to examine the documents and advise the court on the claim. The court, however ordered Vetdis to pay the current account debt plus interest at 8%, and on 4 May 2021, Vetdis made a payment of €432,762 (£383,824). The process involving the expert auditor is now complete. We expect the court to hold another hearing and make its decision in summer 2024. Other than the €157,836 (£139,988), which may be valid, and is written off from the outstanding other receivable from Vetdis, no further provision in respect of this matter has been included in the consolidated financial statements.
18. 후속 이벤트
On 28 February 2024 we announced the disposal of our majority shareholding in Identicare to BG Bidco 21 Limited, a newly incorporated company owned by funds managed by Bridgepoint Advisors II Limited, for a cash consideration of £24.9m which was payable upon completion of this sale. This represents a significant crystallisation of value for the Group and with it, a significant further strengthening of our balance sheet.
The disposal was assessed against the criteria of IFRS 5 Non-Current Assets Held for Sale and Discontinued Operations and was found to not meet the criteria for an asset held for sale at the date of the statement of financial position due to not being assessed as highly probable at that date as due diligence activities did not commence until post year end.
19. Annual Report
This unaudited preliminary financial information is not being sent to shareholders. A further announcement will be made when the Annual Report and Accounts for the year ended 31 December 2023 will be made available on the Company's website and copies sent to shareholders.
추가 사본은 회사 웹사이트 www.animalcaregroup.com에서 다운로드할 수 있으며 회사 등록 사무실 주소: Moorside, Monks Cross, York, YO32 9LB, United Kingdom에서도 다운로드할 수 있습니다.
RNS는 귀하의 IP 주소를 사용하여 약관 준수 여부를 확인하고, 귀하가 이 커뮤니케이션에 포함된 정보를 사용하는 방식을 분석하고, 그러한 분석을 익명으로 다른 사람과 상용 서비스의 일부로 공유할 수 있습니다. RNS와 런던 증권 거래소가 귀하가 제공한 개인 데이터를 사용하는 방법에 대한 자세한 내용은 개인 정보 보호 정책을 참조하십시오.