Half-Year Result 2023-24

Half-Year Result 2023-24 Livestock Improvement Corporation (NZX: LIC) is pleased to present its half-year result for the six months to 30 November 2023, confirming a solid half-year financial result against challenging economic conditions. Summary of financials: ? Total Revenue from Continuing Operations: down 3.0% at $171.9 million. ? Net Profit After Tax (NPAT) from Continuing Operations: $29.0 million, down 13.0% from the same period last year. ? Underlying Earnings forecast range at year-end: $17-22 million, being unchanged from the market update in August 2023. Please view downloads for more information Shareholder enquiries: shareregistry@lic.co.nz or 0800 542 742 Media enquiries: Steph.Slattery@lic.co.nz or 027 256 2057 Notes to financial information: ? LIC's half-year result incorporates the majority of revenues from core artificial breeding (AB) and herd testing services, but not a similar proportion of total costs so are not indicative of the second half, nor the full year, result. ? A special dividend is declared at half-year in relation to LIC's sale of shares in National Milk Records. ? These numbers should be read in conjunction with the financial details in the Interim Report and 2023 Annual Report. ? Figures have not been audited, with the exception of 31 May 2023 comparatives. ? Underlying Earnings: this is NPAT excluding bull valuation and nil paid share valuation movements and is considered useful to investors as it is the basis on which LIC has historically reported and determination of dividends. Non-GAAP financial information does not have a standardised meaning prescribed by GAAP and therefore may not be comparable to similar financial information presented by other entities. ? Bull team valuation: LIC's elite bull team is its largest biological asset, valued at $97.6 million at half-year. This valuation is based on an independent model that looks at future revenue streams and costs associated with the current bulls owned, discounted back to current value. ? Market guidance is provided on the basis that no significant climate event or milk price change takes place. Downloads: ? Interim Report ? Results announcement ? Media Release ? Special Dividend End CA:00425235 For:LIC Type:HALFYR Time:2024-01-24 15:40:13