DGAP-News

Plant Health Care, plc

DGAP-News: Plant Health Care Plant Health Care, plc 01.02.2022 / 14:15 The issuer is solely responsible for the content of this announcement. February 1st, 2022 - Plant Health Care(R) (AIM.PHC.L), a leading provider of novel patent-protected biological products to global agriculture markets, announces its trading update for the 12-month period to 31st December. All results provided are preliminary and subject to completion of the 2021 audit.

Financial and Commercial highlights:

1. Revenue increased 28% to $8.4m (2020: $6.6m)

   • 24% increase in constant currency
2. Gross margin expanded 300 basis points to 59% (2020: 56%).
3. The Commercial business increased its EBITDA and was cash positive for the period.
4. The Company invested $3.7m (2020: $2.7m) during the year, as PREtec ramps up for commercial launches
5. Substantial improvement in working capital
6. Cash and cash equivalents as at 31^st December was $9.2m
7. Awarded the LSE's Green Economy Mark

Harpin αβ highlights:

1. Harpin αβ sales increased by 55% to $6.0m.
2. Revenue with each of our three large distributors was over $1m for the period
3. New distribution agreement with Agrii, a leading distributor in the UK, for exclusive access to Harpin αβ for all crops in the UK

PREtec highlights:

1. Successful launch of Saori^(R) (PHC279), the world's first commercial PREtec registration, in partnership with Nutrien in Brazil, the world's largest soybean market (40m Hectares).
2. Registration of PHC279 on track for first USA launch in speciality crops ($1 billion market value), in partnership with Wilbur-Ellis, in the second half of 2022, once necessary regulatory approvals have been received.
3. Low-cost production agreement for PHC279 signed with a leading European-based biomanufacturing company; secures capacity to accommodate long-term growth in demand and ensures gross margin comparable to that of Harpin αβ (70 - 75%).
4. PHC949 regulatory submission filed with EPA in January 2022. Product development continues with Wilbur-Ellis and other potential partners; with US launches anticipated following registration in 2023.

Outlook: