BIO-UV Group (Euronext Growth® - FR001334549 - ALTUV), specialist in water and surface treatment and disinfection systems, provides an update on the recent activity and new contracts won by its Land and Maritime divisions, and its financial targets for fiscal year 2020.
Growth across the Land business: France, Export and Triogen!
Double-digit growth is on the agenda in 2020 for the Land division and shows an auspicious momentum for the 2021 financial year.
In France, activity in the residential pool market is very strong, double-digit growth. Export, which continues to post double-digit growth in the wake of the 1st half of the year,
the group has gained new major international benchmarks.
BIO-UV has won the project to supply ozone water treatment equipment for the world's largest aquarium in the future Sea World Park, which will open in 2022 in Abu Dhabi. This contract, won by Triogen, represents a turnover of at least €600 thousand invoiced in the 4th quarter of 2020.
In Scandinavia, the group once again won orders for the supply of well-boat equipment with its Norwegian partner Redox. The UV disinfection equipment is used to treat water in vessels transporting live fish to and from offshore farms from nursery farms for producers in Latin America and Scandinavia. The latest round of orders amounts to more than €600 thousand and will be delivered before the end of 2020.
After a 2nd quarter impacted by the consequences of the crisis in the United Kingdom, Triogen has returned to sustained growth in the 2nd half of the year, driven in particular by the framework contract with Suez which is well ahead of the initial contract commitments.
Based on these latest commercial successes, BIO-UV states that the turnover of the Land operations in 2020 will be higher than the annual plan established before the coronavirus crisis.
Marine activities: growth of around 50% in 2020
During the 2nd half of the year, the group continued to win good orders including the equipment for twelve mine-hunting vessels for the Belgian and Dutch navies on behalf of the shipbuilder Groupe Piriou. This multi-year contract from 2021 to 2028, with a total value of €700 thousand, is part of the partnership concluded in September 2020 between BIO-UV and Piriou Services, a subsidiary of the Piriou Group in charge of the Nava repair business.
Several significant contract negotiations are under way at the end of the year, after a slightly less sustained commercial activity in recent months in the Marine division due to the health crisis.
The impact on global maritime trade, combined with the one-year lag in international regulations requiring shipowners to equip themselves with ballast water treatment systems, resulted in delays in orders and tenders that should have been completed by 2020. However, the one-year postponement of international regulations will smooth the entire market until the end of 2025.
€32M Revenues (up 60%) and 10% EBITDA margin (up 150%) in 2020
As a result of these lags, 2020 sales are now expected to reach €32 million, compared to €35 million targeted before the crisis, a significant annual growth of 60% compared to the €20 million achieved in 2019 (which was an increase of 61% vs. 2018).
It should be noted that the new Surfaces division is expected to achieve a turnover of more than €600 thousand this year, just a few months after the launch in September of a full range of equipment, validated and certified for the disinfection of surfaces and spaces by UV-C.
In terms of profitability, BIO-UV confirms its target of 10% EBITDA in 2020, compared to 6.9% a year earlier, representing a value increase of more than 150% in EBITDA for the year.
Confirmation of 2024 ambition: €60 million in sales
By 2024, Bio-UV's ambition is to establish itself among the world's leading chemical-free disinfection companies. This ambition will be realised by a change in dimension with the goal of reaching €60 million in sales in 2024, exclusively through organic growth.
In addition to the group's expansion of commercial and marketing activities, the €12.7 million of funds raised at the end of September 2020 by capital increase will also enable us to seize opportunities for external growth aimed at acquiring new technologies in the world of disinfection. These acquisitions are not included in the 2024 revenue target.
Next publication: 2020 annual revenues, on 27 January 2021, after market.
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.