75% growth in consolidated terms, of which 17% organic growth
Strong growth in Maritime activities: +38%
BIO-UV Group (Euronext Growth® - FR001334549 - ALTUV), a specialist in water treatment and disinfection using UV, ozone, salt electrolysis and AOP, reports its half-year consolidated revenues for the 2022 financial year.
|Data in €m (audited) |
from 1 January to 30 June
|H1 2021 |
|H1 2022 |
|Change overall||Change proforma1|
1 By integrating Corelec over the first half of the past year (from 1 January to 30 June 2021), or 2021 pro-forma half-year revenue of €23.3m.
2 Corelec's revenue in the first half of 2021 was €7.1m.
During the first half of its 2022 financial year, BIO-UV Group had recorded consolidated revenue of €28.1m, a strong increase of 75% compared to the first half of 2021, despite the geopolitical context and still high supply chain tensions.
On a pro-forma basis, and with the consolidation of Corelec over the entire first half of 2021 (€23.2m), first half growth stood at 21%.
On a same-currency and exchange rate basis (excluding the impact of Corelec consolidated since 1 November 2021), organic growth stood at 17%.
This robust increase over the first half semester was driven by a substantial recovery in revenue in the Maritime division (+38%) and robust growth in the Land activities (+101% on a consolidated basis and +13% on a proforma basis) driven by the successful integration of Corelec.
Land activities: sharp increase in France and at Corelec
In France, BIO-UV Group delivered robust half-year growth of 22% on a pro-forma basis, underpinned by sales of O'Clear solutions as well as Akeron salt electrolysers in the recreational market. Note that sales of Akeron heat pumps also rose in double digits.
On the export front, the global health context, primarily in Asia, slowed activity which was stable at €6.2m.
Maritime activities: return to high revenue levels with organic growth of 38%.
After a second half of 2021 impacted by project and shipping delays, BIO-UV Group restored robust growth of 38% during H1 2022, despite demanding comparison with the year-earlier period. Note that the Maritime division recorded growth of 34% in revenue over H1 2021.
After bolstering its teams, the group sold more than 100 ballast water treatment systems in the first half of the year alone, including the new BIO-SEA M-Series range (high and medium flow rates from 300m3/h to 2,100m3/h). Potential sales in the division during the second half as well as in 2023 and 2024 remain very high.
Outlook for 2022
On 15 July 2022, BIO-UV Group's order backlog stood at €13.3m, including €11.3m in orders already signed to deliver in 2022 (€5.1m for the Maritime division and €6.2m for the Land division).
After H1 2022, BIO-UV Group confirms that 2022 is set to show robust revenue growth, boosted by the contribution from Corelec.
The publication of 2022 half-year earnings on 21 September 2022, will provide an opportunity to fine-tune this target.
Benoît Gillmann, Founder, Chairman and CEO of BIO-UV Group, commented:
"In the current context affected by all kinds of tensions and inflation, BIO-UV Group's performance in the first half of 2022 is remarkable. Once again, I would like to thank the Group's teams who delivered an excellent performance with very solid fundamentals. BIO-UV continues to generate strong growth, paid its first dividends in the first half of the year and also distributed a profit-sharing scheme to all employees as well as an additional salary increase to take account of high inflation.
This is further evidence of our commitment to all our stakeholders: employees, customers, suppliers, and shareholders.
We also continue to make progress in our strategic areas: recreational, marine, reuse, industry, and aquaculture. In times of increasing water scarcity, extreme temperatures and a growing world population, water is more than ever an absolute and vital priority. Treating it is more than ever a necessity in order to provide for the needs of the population. BIO-UV Group is at the heart of these needs by delivering relevant and competitive solutions.”
|H1 2022 results||21 September 2022|
|2022 annual revenue||25 January 2023|
|FY 2022 results||5 April 2023|
Press release will be published after Euronext Paris market close.
About BIO-UV Group
Founded in 2000, BIO-UV Group designs, manufactures and markets ultraviolet, Ozone, salt electrolysis and AOP (advanced oxidation process) disinfection systems.
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.