Livestock Improvement Corporation Limited (NZX:LIC) Annual Report 2022



The latest annual report of Livestock Improvement Corporation Limited (LIC) was published on 31 May 2022. An annual report is a document that public corporations must provide annually to shareholders that describes their operations and financial conditions. Typically, an annual report will contain sections such as General corporate information, Operating and Financial highlights, Letter to shareholders from the CEO, Financial statements etc.

Key Statistics - LIC Annual Results

Amounts in NZD

Total Revenue
263.18M
Gross Profit
109.65M
EBIT
33.37M
Net Tangible Assets
254.45M
Net Income
26.72M
Capital Expenditures
-10.57M

LIC Income Statement 2022 Annual Report

As per the latest Income Statement of LIC, the Net revenue increased by $14.17M (6%) compared to the previous period. The operating income in 2022 increased by $1.47M (5%). The net income as per the annual report was 26.72M which increased by $3.78M (16%) compared to previous year.

Income Statement Report (2022/2021)

2022 2021
Total Revenue 263.18M 249.01M
Gross Profit 109.65M 104.64M
Operating Income 33.37M 31.9M
Income Before Tax 12.62M 31.01M
Net Income 26.72M 22.94M

Balance Sheet - LIC 2022 Annual Report

Read further: LIC Balance Sheet Detailed Analysis

The latest balance sheet from annual result of Livestock Improvement Corporation Limited showed the company increased the cash on balance sheet by $45.31M (241%). The Net tangible assets of LIC on the balance sheet were at 254.45M which is $5.63M (2%) more than previous annual report. The total stockholder equity also decreased by $-188000 (0%) compared to previous reporting period.

Balance Sheet Statement Report (2022/2021)

2022 2021
Cash 64.14M 18.82M
Total Assets 385.61M 381.13M
Long Term Debt - -
Total Liabilities 92.55M 87.88M
Total Shareholder Equity 293.06M 293.25M
Net Tangible Assets 254.45M 248.82M

Cash Flow Statement - LIC 2022 Annual Report

The 2022 annual cash flow statement of Livestock Improvement Corporation Limited showed that the net income increased by $3.78M (16%) compared to previous reporting period. Also the capital expenditure of LIC decreased by $-2.73M (-35%).

As of 2022, the total cash from investing activities was 17.68M and total cash from financing activities was -29.61M.

Cash Flow Statement Report (2022/2021)

2022 2021
Net Income 26.72M 22.94M
Capital Expenditures -10.57M -7.84M
Dividends Paid -26.36M -15.4M
Total Cash From From Investing Activities 17.68M -16.11M
Total Cash From From Financing Activities -29.61M -21.82M

Livestock Improvement Corporation Limited Annual Report History

Income Statement

Income Statement history of Livestock Improvement Corporation Limited (NZX:LIC)

31 May 2022 31 May 2021 31 May 2020 31 May 2019
Total Revenue 263.18M 249.01M 240.93M 246.54M
Cost Of Revenue 153.53M 144.37M 133.94M 137.2M
Gross Profit 109.65M 104.64M 107M 109.34M
Research Development 18.18M 17.12M 14.84M 13.62M
Selling General Administrative - - - -
Non Recurring - - - -
Other Operating Expenses 35.35M 33.62M 33.06M 41.65M
Total Operating Expenses 229.81M 217.11M 208.71M 219.28M
Operating Income 33.37M 31.9M 32.22M 27.26M
Total Other Income Expense Net -20.75M -894k -7.7M 2.84M
Ebit 33.37M 31.9M 32.22M 27.26M
Interest Expense -277k -1.38M -484k -336k
Income Before Tax 12.62M 31.01M 24.52M 30.11M
Income Tax Expense 2M 7.4M 3.46M 7.94M
Minority Interest - - 383k 249k
Net Income From Continuing Ops 10.62M 23.61M 21.05M 22.17M
Discontinued Operations 16.1M -669k -3.57M -3.57M
Extraordinary Items - - - -
Effect Of Accounting Charges - - - -
Other Items - - - -
Net Income 26.72M 22.94M 17.49M 22.17M
Net Income Applicable To Common Shares 26.72M 22.94M 17.49M 22.17M

Balance Sheet Statement

Balance Sheet Statement history of Livestock Improvement Corporation Limited (NZX:LIC)

31 May 2022 31 May 2021 31 May 2020 31 May 2019
Cash 64.14M 18.82M 16.49M 4.53M
Net Receivables 56.84M 56.46M 56.87M 63.94M
Inventory 12.37M 11.04M 13.6M 16.36M
Other Current Assets 855k 27.15M 754k 825k
Total Current Assets 134.2M 113.47M 87.71M 85.65M
Long Term Investments 13.26M 13.33M 13.52M 17.54M
Property Plant Equipment 199.54M 209.9M 210.9M 203.76M
Good Will 2.35M 2.33M 6.5M 6.47M
Intangible Assets 36.26M 42.09M 61.31M 67.31M
Total Assets 385.61M 381.13M 379.94M 380.74M
Other Current Liab 37.52M 30.41M 29.33M 35.12M
Other Liab 36.96M 43.04M 42.84M 49.51M
Total Current Liabilities 40.96M 33.38M 34.1M 39.78M
Total Liab 92.55M 87.88M 89.7M 89.3M
Common Stock 76.74M 76.74M 78.43M 78.43M
Retained Earnings 169.62M 174.69M 170.72M 169.76M
Treasury Stock 46.7M 41.82M 40.71M 42.99M
Other Stockholder Equity 46.7M 41.82M 40.71M 42.99M
Total Stockholder Equity 293.06M 293.25M 289.86M 291.19M
Net Tangible Assets 254.45M 248.82M 222.05M 217.41M
Long Term Debt - - - -

Cash Flow Statement

Cash Flow Statement history of Livestock Improvement Corporation Limited (NZX:LIC)

31 May 2022 31 May 2021 31 May 2020 31 May 2019
Net Income 26.72M 22.94M 17.49M 22.17M
Depreciation 8.36M 7.97M 7.94M 7.58M
Change To Netincome 18.08M -2.74M 4.26M -1.92M
Change To Liabilities - - - -
Change To Operating Activities -6.25M -1.91M 2.57M 8.11M
Total Cash From Operating Activities 57.13M 40.46M 52.02M 55.17M
Capital Expenditures -10.57M -7.84M -6.23M -16.18M
Other Cashflows From Investing Activities 34.83M -612k -1.35M -1.64M
Total Cashflows From Investing Activities 17.68M -16.11M -21.4M -36.81M
Dividends Paid -26.36M -15.4M -13.12M -2.44M
Net Borrowings -3.6M -5.08M -5.96M -13.87M
Total Cash From Financing Activities -29.61M -21.82M -18.7M -16.34M
Effect Of Exchange Rate 110k -191k 37k -4k
Change In Cash 45.31M 2.33M 11.96M 2.01M
Issuance Of Stock 352k 352k 386k 60k