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BIO UV : EUR 44.3m in 2021 pro forma revenue: a new dimension at the dawn of a new growth cycle


BIO-UV Group (Euronext Growth® - FR001334549 - ALTUV), a specialist in water treatment and disinfection by ultraviolet, ozone, salt electrolysis and AOP, reports its full-year revenues for the 2021 financial year.

 

Data in €m
for 1 January to 31 December
2020
consolidated
2021
like-for-like basis
2021
consolidated1
Total change   2021
proforma2
Land activity 17.6 18.7 19.7 +11%   30.5
Maritime activity 14.6 13.9 13.9 (5%)   13.8
Total revenues 32.1 32.5 33.5 +4%   44.3

1 Corelec, consolidated since 1 November 2021 is included in Land Activities.
2 Including Corelec over 12 months in fiscal year 2021 (for 1 January to 31 December).

 

A new dimension: €44.3m in pro forma 2021 revenue

For FY 2021, BIO-UV recorded consolidated revenue of €33.0m, reflecting growth of 4% compared with 2020.

Corelec, acquired in November 2021, was consolidated over two months of the year and contributed €1 million to consolidated revenues.

On a pro forma basis, including Corelec over 12 months, 2021 revenues would have amounted to €44.3 million, reflecting a change in dimension for the BIO-UV Group.

 

Land Activities: buoyant trends in France driven by the commercial success of the O'Clear solution and dynamic export sales

The Land Activities division reported consolidated revenues of €19.6 million in 2021, up 11% compared with 2020.

  • In France, BIO-UV Group reported full-year growth of 24%, beating expectations. In a particularly dynamic residential pool market, the group benefited especially from the commercial success of the O'Clear solution, offering the most recognised chemical-free water disinfection technologies on the market (ultraviolet and electrolysis with very low salinity).
  • The Export Activity was up 3% in 2021, reflecting moderate growth owing to the global health crisis, which led to the postponement of certain orders to 2022.

 

The Maritime Activity: full-year revenues down slightly but strong growth in the orderbook end-2021

As announced end-October, the 2nd half of 2021 saw numerous order and delivery postponements owing to:

  • the closure of certain ports and worksites, particularly in Asia;
  • postponements, decided by shipowners in agreement with class companies, to the equipment and updating of certain vessels, due to stretched business schedules (container carriers) or a lack of business in other usages (for example: oil & gas).

The business opportunities of this division in 2022, 2023 and 2024 is very significant. There are still around 35,000 vessels1 to equip over the next three years worldwide.

Thus, orders to be delivered in the 1st half of 2022 alone have already reached a record for this time of year at €6.0 million.

The BIO-SEA division also began delivery of its new medium and high-power range at the end of 2021 (from 300 m3/h to 2,100 m3/h), the BIO-SEA M-Series.

 

Order backlog at present: €14.2 million, of which €12.7 million to be billed in 2022

BIO-UV Group will release its 2022 targets when it publishes its full-year results for 2021, on 6 April 2022.

These are likely to reflect persistently strong business growth, boosted by the contribution from Corelec.

 

Confirmation of full-year profitability growth target

BIO-UV Group confirmed its target to increase profitability in 2021 (excluding the accretive impact of Corelec), which was already the case in H1 2021 (interim EBITDA margin of 12.6% versus 9.1%
a year earlier).

 

Benoît Gillmann, Chairman and CEO of BIO-UV Group, commented:

“ As we change dimension and enter a new growth cycle, I am extremely proud of the full team, with the success of our strategy and our growth since BIO-UV Group's IPO in July 2018. Despite the global challenges over the last two years, our team has delivered a total growth of +172% since 2018, averaging over 28% annually, together with two external growth deals and an EBITDA margin rising from 7.1% in H1 2018 to 12.6% in H1 2021.

On a pro forma basis, including Corelec over 12 months, revenues are over €44 million and EBITDA will be above 15%.

For 2022, we have never enjoyed such a very strong orderbook.

For the Land Activities, we chalked up an impressive performance, including in mature markets like France where full-year growth came to a remarkable +24%.

The Corelec acquisition, was very significant in terms of revenue and profitability, confirming our external growth strategy in high-growth sectors such as recreation. Consolidation of our new acquisition is progressing very well.

Thanks to this acquisition and our historical activities, we have strengthened our leading position in water treatment in various applications, with chemical-free environmentally-conscious processes.

BIO-UV Group is committed to serving a rapidly expanding global market, sustaining the planet's most important, finite resource that is critical to human health.”

 

Next release: Full-year 2021 results (audited), 6 April 2022, after the 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.

Contacts:

BIO-UV Group
+33 (0)4 99 13 39 11
invest@bio-uv.com
Investor Relations
Mathieu Omnes – ACTUS
+33 (0)1 53 67 36 92
momnes@actus.fr
Press Relations
Serena Boni – ACTUS
+33 (0)4 4 72 18 04 92
sboni@actus.fr

 


1 source: Nykjaer Jensen, founder of European Marine Technology - June 2021



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