Partnering with producers

During our last financial year, progress against our strategic objectives included:

• Continued to accelerate genetic gain for target traits across our product lines
• Increased our population of PRP, which now spans multiple generations, in preparation for marketing this groundbreaking product
• Developed a pioneering Life Cycle Assessment (‘LCA’) to quantify the potential reduction in greenhouse gas emissions from using PIC genetics
• Partnered with the U.S. National Pork Board to create a framework for quantifying the wider environmental benefits of genetic improvements in pork production

• Updated our go-to-market strategy in China to focus on strategic accounts, while seeking to reduce exposure to market volatility
• Continued to strengthen relationships with strategic accounts in North America and Latin America, enabling us to increase profits despite challenging market conditions in both regions
• Began operations at our joint venture Genesis nucleus farm in Brazil, strengthening the supply of elite genetics to customers in a vital market
• Delivered a strong performance in Europe by continuing to expand our share of business with strategic accounts across the region

• Continued to focus on expanding royalty revenues, including signing 13 new royalty agreements in China
• Conducted 30 further product validation trials in 6 countries involving 64,000 pigs, demonstrating the superior performance of PIC genetics in customer systems
• Expanded the CBV Max programme, through which our most elite genes command a higher price, into Latin America