BIO-UV Group (Euronext Growth® - FR001334549 - ALTUV), specialist in water and surface treatment and disinfection systems, posts its 2020 consolidated annual revenues for the year ended 31 December 2020.
BIO-UV achieved annual revenues of €32.1M, up sharply by +60% compared with 2019 (which already recorded growth of +61% vs 2018) despite the health restrictions imposed by the SARS-CoV-2 (coronavirus) pandemic.
This solid performance was supported by dynamic organic growth of +24%, with double-digit growth across all divisions.
BIO-UV confirms an EBITDA margin of 10% in 2020, compared with 6.9% a year earlier, representing an increase of more than +150% in EBITDA over the year.
Consolidated annual revenues by business segment
|Data in €M (unaudited)||2019||2020||Total variation|
Triogen is consolidated as of 1st October 2019 and integrated into the Land activity.
Maritime activity: 60% growth in second-half 2020!
After achieving €5.2M in revenues in 2018, then €10.2M in 2019, Maritime activity recorded consolidated annual revenues of €14.6M in 2020, reflecting solid growth of +44%, including +60% growth in second-half.
The division continued its dynamic development, continuing to benefit from international regulations requiring ship-owners to fit out their vessels with ballast water treatment systems, which will now be applicable until September 2025. This one-year deferment in the international regulations will help smooth the market and extend the activity horizon by another year.
Land activity: double-digit organic growth in France, for Export and for Triogen
The Land division achieved consolidated revenues of €17.1M in 2020, a total increase of +74%, exceeding the annual plan. At constant scope and exchange rates, organic growth stood at +11%, with double-digit growth across all activities.
- In France, BIO-UV posted solid growth of +13% in 2020, with an extremely dynamic residential swimming pool market. Activity will remain strong in France in 2021 and will be accelerated by the launch of the new O'Clear® innovation, which combines the most well-known chemical-free water disinfection technologies on the market: ultraviolet (UV-C) and electrolysis.
- In terms of Export, despite a complicated global context, annual revenues were up +10% in 2020 with the award of major contracts. The ongoing reinforcement of the sales team – with recruitments already completed in several geographic areas (Central Europe and the Middle East) – will contribute to the acceleration that has already begun.
- Finally, Triogen posted annual revenues of €9.0M, up by +10% at constant exchange rates. The activity with Suez eventually went beyond the initial contractual commitments.
Surfaces activity: a complete range, operational and certified since September 2020
Created in Q2 2020, since September the new Surfaces division has offered one of the few equipment ranges in the world to be validated and certified according to demanding standards and protocols, able to eliminate bacteria and viruses on surfaces and spaces using UV-C.
In 2021, BIO-UV's objective will be to strengthen the sales teams in the Surfaces division to ensure the sustainability of this business segment and expand it to meet long-term needs (bacterial and viral pandemics, hospital-acquired infections, etc.).
2021: double-digit growth and increased profitability
In 2021, BIO-UV set itself the targets of achieving another year of double-digit organic growth and continuing to improve its profitability (EBITDA).
To date, the BIO-UV order book stands at €14.8M, €8.1M of which is to be invoiced in 2021.
Maritime activity totals €12.2M in orders (of which €5.5M to be invoiced in 2021). The Land activity order book, including Triogen, stands at €2.6M, all of which will be completed in 2021.
In the longer term, BIO-UV confirms its ambition to achieve €60M in revenues by 2024, exclusively through organic growth.
Benoît Gillmann, Chairman and CEO of BIO-UV, said:
“In the midst of an unprecedented health crisis, BIO-UV stepped up its pace with sustained growth in 2020 and annual results, published at the start of April, demonstrating a sharp increase in profitability and cash flow.
The group benefits from solid fundamentals and a context of increased vital needs which will enable it to continue its development in 2021, including major environmental, health and economic challenges increasingly present in our markets, an optimised and strengthened organisation following the successful integration of Triogen, and a sales forces which has been expanded and will continue to be across all activities.
Drawing on these solid foundations, the forthcoming new phase of development will be based on sustained organic growth and new external growth operations, thanks to the success of the fundraising in September 2020.”
|2020 annual results||7 April 2021|
|H1 2021 revenue||21 July 2021|
|H1 2021 results||22 September 2021|
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About BIO-UV Group
Created in 2000, BIO-UV Group designs, manufactures and markets innovative ultraviolet water and surfaces treatment systems, and since September 2019, Ozone and AOP.
The range of equipment developed by the Group is aimed at several markets: ground, marine and surfaces.
Listed on Euronext® Growth - Paris (FR0013345493 - ALTUV), BIO-UV Group has granted the “Innovative Company” label by Bpifrance and is eligible for the French “PEA-PME” investment scheme.