Syncona Ltd (CHIX:SYNCl)
£ 1.108 -0.015 (-1.34%) Market Cap: 716.93 Mil Enterprise Value: 716.91 Mil PE Ratio: 0 PB Ratio: 0.64 GF Score: 36/100
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Full Year 2023 Syncona Ltd Earnings Call Transcript

Jun 15, 2023 / 08:00AM GMT
Release Date Price: £1.52 (-0.78%)
Christopher J. Hollowood
Syncona Investment Management Limited - CEO

So good morning, everybody. Welcome to Syncona's Annual Results. My name is Chris Hollowood, I'm the Chief Executive of Syncona.

So we've had a very strong year against a very difficult macro backdrop. We set out in November a set of growth targets over the next 10 years, that was going to increase the velocity of this business and its overall delivery. And what we've seen is great progress against that. So we've expanded the team, had some terrific new hires into the team to augment the team that we already have. We've actually delivered 4 new companies against a target of 3 new companies who are already seeing the velocity of the business as we want it. But this is against the backdrop that is a very, very difficult macro environment. And we need to be cognizant of that. We have seen a NAV decline over the course of the year of about 4%. This has been driven mainly by our listed portfolio companies trading off, but also a partial write-down of the private company, SwanBio, where we've restructured that business to focus on

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