Livestock Improvement Corporation (LIC) presentation summary

Financial performance and outlook

• Total revenue reached $295.1 million, up 10.4% from the previous year, with net profit after tax rising to $30.6 million from $7.7 million.

• Underlying earnings increased 56.9% to $21.7 million, with a dividend of 12.22 cents per share, representing 80% of underlying earnings.

• Total assets grew to $392 million, a 9.3% increase, and R&D investment rose by 6%, now representing 8% of revenue.

• Excluding prior year one-off events, a 10% revenue increase translated to a 15% improvement in underlying earnings.

• Underlying earnings for 2025/26 are forecasted between $18–22 million, with ongoing investments in customer systems and share trading improvements.

Value creation on farm

• Value delivered on farm by measured products and services increased from $391 million in 2020 to $655 million in 2025, with genetic gain contributing 78% of the 2025 value.

• Short gestation semen delivered over 10.7 million additional days in milk, generating $128.6 million in extra revenue at a $10 payout.

• Disease testing reduced prevalence of Johne's and BVD, with 166,787 antibody-positive animals identified and declining herd infection rates.

• Genetic reference population neared 1.5 million genotypes, with 520,000 added in the year and ongoing improvements in herd genetic merit.

• Over 30 years, fat and protein yields in Friesian bulls increased significantly, with fat % rising from 4.1% to 4.8% and protein % from 3.3% to 3.8%.

Strategic direction and innovation

• Focus on breeding highly efficient, lower-emitting herds aligned with processor and global market needs.

• Investments in customer experience, farm software, and international markets to accelerate genetic gain and strengthen breeding schemes.

• Collaboration and data sharing through modern APIs expanded, with 13 business partners connected and more in the pipeline.

• Continued R&D reinvestment to support generational improvement and address global agricultural challenges.

• Breeding for lower methane emissions is underway, with measurable variation in sires and their progeny.