Evogene (EVGN) 21 Nov 242024 Q3 Earnings call transcript

Welcome to Evogene's Third Quarter Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded November 21, 2024. This presentation contains forward-looking statements relating to future events and Evogene LTD may, from time to time, make other statements regarding our outlook or expectations of future financial or operating results and/or other matters regarding or affecting us that are considered forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995 and other securities laws as amended.

Statements that are not statements of historical fact may be deemed to be forward-looking statements. meaning. be expect, the intend anticipate, or of may words of and statements words believe, as should similar forward-looking identified use by such potential Such planned, estimated,

ChemPass presentation harness cost-effective timing We within lines when leverage timing to sale, vision, are XXXX. Evogene's competitive and Levi value revenue ability and usage enhance BMCXXX the AI, time of cash XXXX purchase optimize and way, ] projected Biomica and for and identify proposition ability statements ability achieving the expected continued supply using in growth likelihood to and Evogene's future in we orders, Evogene's of Evogene's of Evogene's strategy anticipated activity AgPlenus forward-looking Bio's of for partnerships discuss Casterra value Pipeline and by and the candidates a to in and expected this [ Evogene breakthrough products

based about Readers predict, affect and due forward-looking not actual to is on that difficult expressed company's performance Therefore, or implied projections to of statements current results and from estimates, involve Such factors important a certain could differ such this what uncertainties, cautioned are of results from the and performance. to future events, trends statements risks guarantees future and statements are may which variety expectations materially achievements may opinions differ such are in are described may in assumptions certain materially and actual be made cause or factors. that results, any presentation. future the forward-looking future by

and the of situation further war between including control, and in our Israel, escalation limitation, Israel, any mobilization beyond in or current Hezbollah applicable may be as are made any securities publicly the Factors. which of in Many such heading Hamas presentation to and the obligation any estimates, or worsening without to in northern information, Authority laws, in the events any on Commission, the or of by of as U.S. changes any factors we XX-F release files expectations, update revisions assumptions. Form Israel, annual under this commitment and report Except or Exchange results required those Israel projections Evogene to including future and other in Securities the to described the disclaim developments and and Risk with greater Securities detail or contained furnishes Evogene's information those reflect statements that on border

or document shall or of commitment of The invitation company. company to nor any solicitation there any or form of herein to offering or contract, any fact not from connection purchase offer nor it of basis securities constitute sell with of subscribe or of or in to contained or information or to any it or any any a its or information connection or any part securities Evogene does constitute the prospectus be other invitation part distribution does offer or on relied of the the to Evogene the relating the for

and of will Haviv, Evogene. and President With of the be Yaron on line CEO Evogene CFO us Eldad, Ofer

to over please Mr. call Ofer go turn Now I Haviv, the will Haviv, ahead.

my the begin activities. an by call, conclude remarks, quarter, third I recent will overview financial everyone. Evogene's will of since day, for a activities. highlights with Eldad analyst I CFO, then In by QX last today's business call. of the Yaron will achievements update conference and on provide financial followed subsidiaries review our Good Evogene's the a with After

a session. We will then open Q&A

months X XXXX, approximately first us business highlights. In of the with the reached to approximately of revenues million months $X.X Let in total compared and X begin million the $X.X financial XXXX. first

QX Casterra's compared Bio. million XXXX seeds in included QX based revenues to revenues license approximately mainly XXXX total revenues in QX reached $X.X the payment Lavie XXXX, in by of are The received $X.X In million million a XXXX. on $X.X approximately sales. fee QX The

For approximately the included and continued due expenses approximately to $X.X year, growth to million, resulting of revenue an Evogene's seed seed approximately [ year Casterra ] mainly XXXX expenses remaining amounted other the compared supply from approximately $XX.X months expenses previous to in compared X G&A orders. the allowance loss in expenses million, X to million debt of approximately anticipates X $X.X fundraising Decode QX which Casterra's from XXXX G&A Evogene first suppliers. for for The expenses in million, million full unchanged X million of existing $XX.X QX included to was approximately $X.X and G&A allowance average due XXXX. of first full months of XXXX, to mentioned compared and above QX of operating and In of of $X.X the fundraising XXXX. debt the

million a to and proceeds, reduction its count million million expenses, to X In $X.XX head including million shares million X months of reducing of first first treatment to The XXXX, fundraising accounting in of cash into including X approximately warrants. part $XX.X Financing $X the additional and first its $X.X subsidiaries. financing company expenses related warrants pound exploring Projected expenses as funds of issued months ordinary without Evogene compared net a in and months $XX taken rating. for million unit in to XXXX inject totaling Bio company of expenses X Evogene compared of were of strengthen the is million the its net of approximately income financing is to business XXXX. XXXX $X.X included in XX% Biomica to cash in of shares August In the $X.XX measures The its XXXX. position completed XXXX has by Lavie gross opportunities and

generating Google properties. and will generative the forefront like made optimizing up Group's October, achievements on by I Now highlight with to to small -- many the unique novel presentation. collaboration announced Cloud model the with desired in the Evogene pioneer position aim to would quarter later foundation in molecules design. molecule previuos novel engine collaboration of to for Starting a and date. small AI Evogene, tech elaborate AI with for I structured campus a in collaboration the Evogene This in specific

to In parties, to external the approval our in embedded shade a GeneRator tech collaboration Ben-Gurion for from traits prescription year with Authorities AI This University addition, respect product the and development grant in for CRISPR water with we is second technology the Israel received Innovation improve with collaboration using technology. our engine.

let's Now Casterra. move to

of in In infrastructure the respect production milestone seat demands. of seed already In passing orders been In spring Brazil commercial impressive are wheat expansion the varities sales with The schedule and It [indiscernible] shipments quarter season the sales existing its a presented July, shipment soybean commercial and marked recent a of Bio XXXX. and expected support its growing codification orders expansion to is of a by season Brazil. the its of is Africa, significant will achieved the Casterra harvesting Casterra in third of to and expansion production partners seed This the Casterra season and the were completed with completion a and operational Kenya. to in July, of Kenya months, quantity with of Yalos, in XXX milestone seat its Yalos discussing portion Africa Casterra tons a announced supply first Casterra the business and XXXX. growing and significant expected with supply seed completion its company in and XXXX. currently which [indiscernible] Casterra first first orders have future Lavie key used reliable initial of announced harvesting processed in November with now its the in expected for winter current of over end an in remainder by quarter future seeds, and to treatment. initiated. initial quarter, With for existing seed product, XXXX. as the

successful results. LAVXXX, targeting Lavie Additionally, precommercialization trial following to Bio advance biofuel field a

of were new on achievement as pipeline crop Moving company's to a with to initiated program in from Septoria. a external fungicide tied focusing essential is and quarter in buyers protein Septoria was the targets fully which Casterra. AgPlenus. X predicted internal the AgPlenus AI very by collaboration campus worldwide. passing The its be separated parties, affecting main

Additionally, achievement now a the patients. study response of meeting targets submission. effective on the that more part Phase AgPlenus will this this The later provide will end around in with in feedback are [indiscernible] positive predicted of new details from therapeutics, for BMCXXX was preparation the are pre-IND the highlights. with X for I protein subsidiary positive presentation. in compounds microbiome-based clinical this I tested. silico earlier X,XXX Biomica's identified and IND continuing with completion year and being with is I to be the is the FDA

Evogene. on Moving the reduced to

of tech of GeneRator development of on microbes, development in products proprietary the products. our and this MicroBoost container AI This and have primary a designed integrating expertise of to AI To science to products to for Our life products for small X optimization development drive company accelerates small elements. life the is genomics. discovery rooted direct advanced science on state-of-the-art in vision engines, molecule-based as led AI, vision, groundbreaking micro-based the molecules effective data big and genetic approach AI is life with realize positioning concentrated we products. based ChemPass science technologies. and and Evogene

generative leadership into expanding and the will time continuously commitment will The of maintain value engines successful machine by lines collaboration an in Epogen optimizing million set Cloud creating the structures foundation ChemPass AI collaboration advanced promising within now integrating in focus by Cloud, molecules to the model. optimize and small training by and Google engines competitive addition molecule cutting-edge of a advantage This expanding our designed value by the on molecules products enhancement This of candidates. to of our and chemistry the new invest Google and design. way. tech with This our XX To the is generate achieving with proposition tech model to Google Evogene's in applications model AI-driven exemplified on the most capabilities. alongside specific model the likelihood in be predictive X Our billion deep tech efficiently for recent from small develop competitional AI properties Cloud's desired expertise identifying AI offer foundation competitive learning. AI for cost-effective better enhanced this and leverages and Building biology strong innovative breakthrough molecules. of engine collaboration

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have the tailored embedded value address implemented to considering technology, we the requirements, effectively harness strategy needs. a business in targeted those mentioned To our

partner life business science by licensing with such companies collaboration bring establishing diverse network potential This risk. experts product or agreement maximize designed as to is fields Agritech. pharmaceuticals We for collaborative while of Our a in in that development. complementary knowledge domain-specific forming or minimizing partnership with strategy

from end aim products, revenue-sharing codevelop product. Now we innovative equity Evogene's the end this through mechanism the the holding product to teams uptake in the of developing alliance, strategic or for company

segment. Here a our snapshot subsidiary even on companies, is X currently each market model, business a own focused current of specific

development our leveraging in In not companies. established with team drug this the segment. by with small have ChemPass we collaboration of covered molecule development new our with dedicated for capabilities the to companies subsidiaries, quarter, Starting development, we have business market have we specializing this AI. in of manager business To objective past a generating with focus, efforts strength the external segments clear support Evogene increased unique partnership strategic opportunity establish business this

to advancement of ] recently and alongside as traits second League to extend gene farm additional the scaling our Color Additionally, subsidiaries, joint with shade of to of editing approval project grant former In focus technology. collaboration advance will to this CRISPR water areas plans enhancing technology University, Gen year, initiatives Crown the through of second [ protection part Ben-Gurion [ focus the restriction industrial ] the and production behind We up in on announced our species. AC, a year collaborative our

the financial commercial engaged This Evogene with slide highlights partners and the Group.

of made the proud are progress achievements have we We today. and

mainly activity like varieties. is for products. solution elite and meet demand and of designed developing of the focused I AI castor supply, castor [ unique to I Casterra, Now subsidiary generator Casterra's our biofuels oil cultivation will its for owned with is its company to Biobase the would The elite achievements. wholly distinct subsidiaries' review a ], global utilized the stable for and to accelerate an Evogene drive large-scale on castor solution begin seed development integrated the varieties. tech engine seed commercial the leveraging

through positive infrastructure in now show in harvesting the the in the quality Casterra in results. seed facility support the production partners will citizen, finalized portion varities and harvesting are future in XXXX. expected its existing Mainly be is in Casterra expected recently, July, the XXXX. ] with Brazil. and by for business extended ]. and and for orders both the the company More by early in to supply achieved its cycle call, for to investment schedule, next a its seed the The to has of Africa mid processing harvest a the being seat Casterra discussing Kenya. significant production growing the the orders end which season operations a began of by completed Currently, production first successfully reliable significant current seeds year. company during last AI seed our the Kenya, this Yalos, establish engine. In Brazil grown with supply meet the its efforts Casterra of of of and supports rain demand. third marked a produced and next-generation tech product, to MicroBoost seat completed unbiological Due milestones is product. [ global Customer to Kenya orders now leader company's Bio, Bio rocks establishment future X paloniquolent Continuing the Lavie in Lavie and season harvested and commercial significant Since needs. Powered The Africa. quarter developing as city a the milestone [ the to remainder

treatment the quarter. one important obtained been serves notably, to First, are with recent grower expected crops in has the Initial results for product expanded of to starting soybean soybean, wet XXXX. of most sales this agriculture. past positive to inter initial have More begin growers the for spring America in Yalos to in North

following development Another the now key down field product is for in commercialization third of targeting is year. stage pipeline Lavie a LAVXXX biofungicide results which in reached the media, Bio's successful consistative pre trial has advancement the

help weather of frame. over Within bio when example validation power a a diverse Lavie the undergoing in July, team strong I of to the was novel These candidate also pleased technology months, in the promising Lavie Bio solution extreme very microbes at deliver identified with major collaboration withstand ICL. to in announced and milestone This developing and stimulant trials. a is XX in just field micros conditions. efficiency a crops short relatively currently time Bio dozen are

biologicals. Finally, the Lavie groundbreaking to transform development economics This innovative Bio's to culture. received grant Lavie of the value of with Bio ag of a and underscores technology advance fermentor the Israel micro uniqueness has Innovation from and potential the a offering Authority ground

Evogene Next, the a tech engines. crop products, like of specializing and ChemPass development AI to protection discuss I would plans company novel our sustainable utilizing in

according the pleased AgPlenus key Corteva. work previously with are and schedule. presented, As as collaborations X that to to progressing report in agreed both planned collaborations is I'm engaged Bayer

in confirmed ] focus that predicted achievements target Fully's of cycle. which like on developing place campus have to mentioned quarter, proteins septoria important pipeline, X would collaborations, [ fungicide independent crop past to as potential X threat primary the been significant the took is AgPlenus essential in the Regarding septoria by company's treatment a as to is address for funding highlight I life worldwide. the

predicted effective ChemPass X milestone in rates significant already to targets. pro at innovative develop these in AgPlenus identified global be company protection. These high for currently marked with second X The undergoing target against least X,XXX of AI are compounds approximately vitro This progress hits. testing to the solutions using advancement protein missions showing

Now pre-IND its With with a turning immuno-oncology Biomica to Phase BMCXXX. therapeutics results Bermuda, on completion. The composed for powered engine. advancing which MicroBoost candidate, specialized observed lit the developing by AI in microbiome-based primarily is in tech human present, X nearing has patients I year, positive is clinical the study program IND At meeting continuing batch the II in is Phase the BMCXXX. receiving this conducted the preparation additional Biomica feedback. company the positive Earlier with manufacturing for response. with submission. Biomica the clinical is a preparation of now prolonged process for also IND study, showing FDA, clinical In of

initiated evaluation has extensive Biomica data company analyzed pipeline. relevant programs, numerous following expansion therapeutic its and Additionally, sets an obtained indications, partially of new X these to potential and programs obesity of The focused longevity. exciting on new has support making

Now Eldad, provide review will third the Evogene's Yaron a quarter. financial CFO, for of results the

Thank you, Ofer.

approximately million, during million from deliveries short-term million held cash other payments Lavie its $XX of marking cash approximately XX% third in Evogene $X.X for The excluding excluding months made September Biomica million around million increase Evogene Bio to approximately the $X.X to expected September in XXXX year. Bio was deposits and third XXXX. $XX.X XX, million. projected $X.X XX% a from not of quarter the period is during XXXX, in $XX to cash XXXX, the XXXX. Lavie quarter used and XXXX Biomica the of usage of of cash, customers $X amount As previous for due This consolidated equivalents usage be and regarding The million, XXXX. the from subsidiaries cash approximately $X.X had were million and Revenues $X.X million, in same approximately approximately first of X approximately notable does decrease an include consolidated bank

Corteva during quarter the The recognized $X.X AgPlenus Bio and XXXX Casterra Casterra during the revenue attributable of previous partially seed for from in third on $X.X development compared was recognized months forecast AgPlenus to $XX.X were year. XXXX was offset driven revenues in million. revenues year, X growth of of expenses, million by growth the approximately collaboration Research the mainly the revenues approximately XXXX. Evogene and by the refundable XXXX. Bayer recognized continued increased the of mainly by period. increased the of compared previous order approximately the quarter to in third XXXX the the Lavie million approximately for to fourth primarily quarter for with anticipates significant seeds supply. Casterra's quarter from A XXXX of with based same on period and This third in $XX.X of the Revenues in brands decrease first the million decrease were new net million X $X.X licensing from agreement supply castor in of months of in

development the The decrease development canonic as expenses decrease mainly same previous compared is the mainly in year. session of Biomica and in a previous period approximately and the certain the the expenses to to same compared increase period approximately is of Research XXXX a expenses net in The XXXX due in in expenses, third approximately in from activity attributable grants $X.X as million the year. of nonrefundable in Sales the to the were X increased above. of for $X.X approximately were million decrease and increase same decreased XXXX. to quarter the compared of same and months and expenses marketing and previous Canonic as the The decreased X in sales as the million in first slight Biomica, during in period marketing million, $X.X $X.X to mentioned to mainly activities XXXX, period attributable year. first months Casterra is for

period and as $X.X in the the $X.X million expenses to were period General and million of marketing of and $X.X the to million doubtful XXXX to to X and of of and that Casterra expenses months of to same quarter third the increased approximately the XXXX same in remained a $X.X the in XXXX to increase administrative of recorded in previous August to expenses quarter Sales administrative first previous from previous compared transaction of mainly the on million General third million increased stable for $X.X for XXXX $X.X occurred the the debt approximately supplier $X.X and year. in year. XXXX approximately provision X during were for compared in first related totaling approximately approximately costs approximately period approximately million year. third million. the the months fundraising due seed The quarter Evogene's the X same attributable expenses period

million, million million approximately above. expenses $X.X expenses amounted $X.X the was unchanged The in XXXX first million, previous ] XXXX mainly half as G&A due was $X.X seize September G&A quarter the period assets previous the approximately operations the for approximately from million decision for first in revenues, loss for in of fixed in [ year. to in of XXXX the a economics operating approximately third QX mainly to the to revenues the and decreased impairment XXXX. period of other compared The period quarter million approximately Total X XXXX. the increased XX, decrease of $X.X same The other increased above. of due as loss an ended mentioned QX mentioned resulted of year, operating months due from increase expenses $XX.X to XXXX in of of to X the approximately to XXXX, same Mainly months $XX.X first

of in $XXX,XXX XXXX fundraising. expenses was same Financing to of the net Financing first third of period $XXX,XXX year. warrants compared year. XXXX, accounting net of to period the and with and to periods the previous August financing of of $XXX,XXX income warrants $XXX,XXX the the previous pre-funded of net for was XXXX for the financial XXXX, expenses months net the mainly the the as financing period of associated XXXX was compared compared during issued third in treatment of same X increase in income quarter X-month respective The in net quarter expenses

were warrants on ] subsequently, each at warrants Pre-funded we pricing position initially auction were value, the the Black statement period as of fair Short using a consolidated classified & measured model. and financial at liability recorded [ and reporting

above. same million during a for million expenses primarily the company was $X.X the loss in of revenues third net XXXX as year. decreased related $XX.X the financial The compared the $XX the net of quarter, expenses was approximately compared was Operator? approximately net and was approximately costs months the increased approximately the period transaction financial warrants mentioned of recorded XXXX, net issued This result, the due XXXX of $X.X As to third The third as decrease of the expenses expenses warrants of transaction. general and period to first X to due in in previous impacted financial increased million $X.X million in for to year. net loss approximately related to loss quarter XXXX $XXX,XXX. The an previous approximately in loss to increase for quarter same the third to administrative compared million the amount of that $X.X by million and quarter of

from first The Instructions] Ben Markets. Lake Klieve question Street [Operator of Capital

did not this update you for by a Casterra This on materialize? happen. call, quarter you Why expected material a at XXXX did second order deliveries said the today's not follow-on On call.

a receiving internal still on we -- partners. expected we call, call. many the Ofer didn't it ], from this there not because bills. earnings there they discussion to complication. in you based were previous performance our It's [ server to is that Yes, still for in that joining thank core our is Ben, the are speaking, see their receive to are you, But This orders

we decision, didn't we since now. [indiscernible] So almost receive which day the from it every final called

that there couldn't update So reason such any is But meetings. because it's partners. our today's the in ongoing for discussion we relationship give complication or specific an not the with this is the

deliveries. initial mid-XXXX ability Casterra secure order? Of the Have its follow Ben to question order delayed Klieve. in from Another a placed continued on compromised

question. [ [ Where past we days With and with to [indiscernible], sold Juha I'm our in ], production a we our in published that together think production that X seed respect this from Africa. to the retaining visit stage just we Kenya. site, reached issue I for ] we

planning achieved to are partners becoming value. are we quite are of there. Our them partners to our happy believe suppliers our bring from extend -- And we an what continue stay I Africa. will some to site we important Actually, impressed that we to to in

some As [ the in seds in from that now visit moving we But we Kenya, to every short working because of stage pictures month. some And been will generate to our ] disclosed, we movies was which might the of the we the impressive. fast. have ANC quite in the harvesting are can even close rain hundreds tons of Kenya. extension and of very the in there are season Tony delays put nice

in seed So good our I supplies are to partners. the position think we a future with that future

complication, disappointed that But and forward seed yes, performance a yes, And we the from this futures better producer's XXXX much delays. So now are some that production. thing we specific looking some there were to get are behind their in we performance. with

announced Klieve. Evogene from Is much? Ben the contributing and how Another cash any question with If University. to collaborations Ben-Gurion so, Google

with are covering Ben-Gurion So the the through grant. collaboration. University Actually, to respect we

additional been this to ongoing development site it's process. expenses. respect is our perspective, this expenses All is no of on With of product each so part participating our Evogene covering -- From there is for Google, so cost collaboration. in our

already build model and the all help that correction employee this can a to part and accelerate Google contribute And the So fundamental were it's amazing to has significant to this excited progress. join amount of very and of they budget. forces us, our with us resources to

have the So effect more Google much actually our said, an budget more project. to due to it end while as I what product we continued we what -- than on planned this doesn't is compared in the involvement

how XXXX, what usage next remaining do Biomica why The balance how as what September you the long of in to level be? will out parent XXXX, cash your of available? cash you company XX the the of If for cash is long does pay? usage Lavie much are carve and additional the at detail deliver question seeds, on Bio you the saying us opportunities inject to more give what Could how have customer funds

take Yaron, answer? can this you

sure. Yes,

September the the and and seeds million In during So already And $X end were million $X in [indiscernible], arrive and beginning of had that October. for September delivered shortly. in spend the question. We is cash the of rest had of another of Evogene subsidiaries mono the thanks as part should XX. of

In of deliver the that, the addition of $X to current seeds expect amount to million. in we quarter end by

I we year comfortable for say the going feel forward have enough So more. to cash that and

to question, I answer you the first, the part your respect the with hope to And get that question. of So second

in and in funds we Evogene, million have way, few are $XX So to the just additional next close months. we expecting receive a for to

think I much And we we for here a how So put that different for I future -- that is sorry, Biomica position. think from Lavie on, information calls Casterra money to and and will are Bio, please stable remember of and it's technology for that use asset these -- pay to company Evogene quite used have start have more Imogen going the receiving that -- we of probably to and services. be apart for our and in for from the X demand they type on

Biomica, to received of it's the belong And amount Lavie use up to So see it's part expenses. when we the deliver XX send you Evogene and to days. to we usually, when money is going the to the cover we to that on money [indiscernible] around from that money, of sales which

even revenue too though company. So long. generate we're we And for to need that it's And the numbers. talking for additional to opportunity the not big wait about that

I think And that mentioned now I partners doing. our even sell companies also sell from holding exploring companies subsidiaries of potential to working to past interest So in must of or those addition, are strategic on is options part our an subsidiary raising one intensively. fund opportunity in the in level. is maybe in and the now, what a to that completely we one a or show we're that subsidiaries our are our it we This something for

we there this can will So strength a I that profit finance cash to happen. few and is position, additional our bring that avenues think event

I then stability the nice company. our to and cash the this a will really think be that of addition to So balance

that So these questions. address I hope

from question realistic not do Where X for Janney sales few years? years looking think rate Reiss case what Scott. is out? Montgomery your is Yalos the a I'm sales level but guidance, run Brett you target? next base for The of can quarter's be What

take please question, Amit, Bio the answer, CEO Lavie that of will please.

back year, that put KPIs our service actually the and we Yalos which customers factors in expand that Yalos the to And X using did growing. on is to of the next the Brett, sales the mode, question. Thanks, even product, is, from this happened the feedback came we're planning return are proof makes soybean. received year? Yes. still biggest though that about us optimistic very penetration One to are this farmers we for and What second one we good are works is that

stimulants much do currently of in times XXX% more for And a seeds of are X of the treated. what bio acres acres wheat. we terms soybeans is are prime Soybean the crop also

-- anticipate a So And that's a potential. them soybean significant, as reported. win us big very very material start we revenues you'll big be will Evogene's years, X sales that and being and in will is that the see in very, for

Scott from question AGP. next of The Henry

the annual early for feedback should the on we revenues How Yalos launch. think about has How peak Yalos? been

more is I feedback as been Wheat crops. challenging a said, has the So good.

very more -- much their are wheat that growers, use but a expand results relevant crop growers see is product. to and the of Soybean in we planning good the satisfied very also

So in feedback. the of this is terms

be it be I years, big And of the sales, already start significant. significant sales. of X the in of millions terms will to next as sales said, at In dollars double-digit

A revenues think color further XXXX Casterra any we should question XXXX? from Henry relative of in AGP. How Scott about to

as mentioned this still information for we discussing disclose earlier, because much So the our XXXX partners. can forecast I method we about with are

revenue we that the are a our opportunity on year. that that I effects significant significant some evaluating -- relatively maturity for have can is there addition, Casterra next In on

year in capacity believe showed And year. year. very the also this performance than Brazil Kenya, production better next see that nice respect a in this So production the and I set we issue that message. of look a we fact important is will with solved this to And production very

located seed are castor as strong Africa. This way. competitive other and the companies of currently, few There very the compared Africa. we in put are many, Think only are only producer that of to in plays. about has a are outside us it by position other in located are They they not

issue the heart locating in focus major production seat time the Kenya. delivery why we challenge and facility a the in Africa by shipping our is of So

an The investor. Stefano next DuoraRazio, question is from

insight management shareholders' into aligned Could insider of in how and current level company ownership interests. the provide you the is with

thing with I call, respect Evogene, Thank analyst from to you, based this This can through hear our management, the on portion management me to information But a the is ownership. have deliver contact with equity Group front auction. subsidiary. Stefano, information after call. me with you in to to in also respect significant analyst even We joining insider this an of don't same directly. compensation is this can for CEO

You is and through an you we on where is might salary for -- And on than auction the average lower equity in in compensate an in side our companies we company this growth mechanism. our in what just expect are.

day, a can very link is we thinking we mechanism the certain invented -- And at -- as So I shareholders for this shareholder us, strong because of we a there how the is value think well. interest a create we management our and and really put of to end lot interest. a generate that level between

to Mr. concluding your time. further no questions at statement? like would Haviv, are make you There this

looking to Thank we're we're for achieve I to Imogen, Thank I very forward of forward very today's year on for our would continue everybody to a and call. be Yes. to you next to that targets. you. Evogene looking And believe like the you update year promising much. joining analyst subsidiaries. progress going thank is

Call. you participation. your concludes XXXX for Conference Quarter This Early Evogene's Results Thank Third you. Thank

disconnect. go and may ahead You