Interim results for the six months ended 31 December 2025

RECORD FIRST HALF PROFIT AND SUBSTANTIAL STRATEGIC PROGRESS

Record first half financial performance

• Record first half adjusted operating profit driven by strong growth in PIC, a £5.6m milestone payment from the Group’s Chinese partner, Beijing Capital Agribusiness (“BCA”), and Value Acceleration Programme (“VAP”) actions benefitting ABS
• Adjusted profit before tax (PBT) increased 57%; excluding the BCA milestone, adjusted PBT increased 42% in actual currency and 39% in constant currency
• Statutory PBT of £39.5m increased significantly year on year with the difference relative to adjusted PBT  predominantly caused by a £6.4m decrease in the non-cash fair value IAS41 valuation of biological assets
• Strong cash generated by operations driving a free cash inflow¹ of £8.2m which compares well to a strong prior year period
• Net debt to adjusted EBITDA ratio reduced to 1.4x¹ (30 June 2025: 1.5x)
• Adjusted earnings per share increased 53% and interim dividend increased to 11.2p per share

Substantial strategic progress

• Porcine: Strategic Chinese porcine joint venture formed on 31 January 2026, post period end
• PRRS⁴ Resistant Pig (“PRP”): Significant milestone for North American commercialisation with Canada approving use of the PRP gene edit on 23 January 2026
• Bovine: VAP Phase 3 initiatives actioned and on track to deliver approximately £7m of in-year benefit and approximately £9m of annualised benefit

Divisional headlines

• PIC – Strong trading across all regions with particular strength in China and LATAM
  • Strategically important royalty revenue growth of 6% to £93m and total volume up 15%
  • Adjusted operating profit including joint ventures increased by 30%² driven by strong trading in Agroceres and China, lower input costs and a £5.6m milestone payment from the Group’s Chinese partner BCA
• ABS – VAP initiatives delivering significant adjusted operating profit and cash flow improvements
  • Stable volume, with sexed volume up 1% and conventional dairy and beef volume 2% lower
  • Significant improvement in adjusted operating profit including joint ventures to £10.9m (FY25 H1: £8.6m) driven by £4.7m of VAP benefits, partially offset by lower profit in ABS China and higher bovine product development costs, as expected

Outlook: Incorporating PIC China deconsolidation, outlook in-line with market expectations

• Continued good momentum across the business
• Broadly neutral currency impact expected in FY26 H2 if current exchange rates continue through the fiscal year
• On 31 January 2026, the Group successfully formed its Chinese porcine joint venture, resulting in expected receipt of approximately £100m in fiscal Q4 and deconsolidation of the Group’s PIC China business
• Incorporating PIC China deconsolidation, Board expectations for FY26 Group adjusted PBT are in-line with current market expectations⁵

Commenting on the performance and outlook, Jorgen Kokke, Chief Executive, said:
“Genus achieved a strong first half with broad-based growth across PIC and continued improvement in ABS profitability. Our focus on cash generation also continued to deliver strong results. Post-period end we also achieved two significant strategic milestones. The first was the successful formation of our strategic Chinese porcine joint venture which creates the best platform to accelerate PIC China’s long-term growth opportunity. The second was Canada’s approval of our PRP gene edit which adds to our portfolio of regulatory approvals. We remain focused on executing our strategic priorities and look forward to the second half of FY26 with confidence.”

Results presentation today

Management is hosting an in-person results presentation and Q&A session today at 08:30am at Peel Hunt’s London offices (100 Liverpool Street, London, EC2M 2AT). Those unable to attend in person can also join remotely; please contact Toto Berger at Burson Buchanan for details: genus@buchanan.uk.com

Enquiries:

You can see PDF with full financial results here

Additional resources: Financial Results Webcast and Investor Presentation

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 PRRS⁴ Resistant Pig is a market leading innovation in gene editing which Genus is looking to commercialise in the porcine industry once further regulatory approvals are obtained.

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 Adjusted results are the Alternative Performance Measures (‘APMs’) used by the Board to monitor underlying performance at a Group and operating segment level, which are applied consistently throughout. These APMs should be considered in addition to, and not as a substitute for or as superior to statutory measures. For more information on APMs, see APM Glossary
² Constant currency percentage movements are calculated by restating the results for the six months ended 31 December 2025 at the average exchange rates applied to adjusted operating profit for the year ended 30 June 2025
³ n/a = not applicable
⁴ Porcine Reproductive and Respiratory Syndrome
⁵ The company compiled consensus for FY26 adjusted profit before tax is £88.9m with a range of £88.0m to £90.0m. This excludes the BCA milestone receipt of £5.6m. This consensus is based upon 8 analyst estimates}