Bio-uv Group: Half-year results 2021: sustained growth and further improvement in profitability

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Sales: up 28%

EBITDA: up 77%, bringing the EBITDA margin at 12.6%

Net profit

BIO-UV Group (Euronext Growth® – FR001334549 – ALTUV), a specialist in the treatment and disinfection of water and surfaces, published its results for the first half of 2021. At its meeting on September 20, 2021, the Board of Directors of Bio-UV closed the half-yearly accounts at the end of June 2021, which were subject to a limited review by the Statutory Auditors. The 2021 half-year report is available in the Investors section of the BIO-UV website, www.bio-uv.com, investors, documents tab.

Income statement

Consolidated data (M €)
French standards
H1 2019
(6 months)
H1 2020
(6 months)
S1 2021
(6 months)
Switch
S1 2021
vs H1 2020
FISCAL 2020
(12 months)
Sales 8.1 12.6 16.1 + 28% 32.2
EBITDA1 0.5 1.1 2.0 + 77% 3.3
EBITDA1 margin 6.5% 9.1% 12.6% 10.3%
Net allocations to depreciation provisions 0.8 0.9 1.3 1.9
Operating profit (loss) (0.2) 0.2 0.7 + 224% 1.4
Financial profit (loss) (0.1) (0.2) (0.1) (0.4)
Extraordinary profit (loss) (0.0) (0.2) 0.1 (0.4)
Net income (group share) (0.1) (0.1) 0.6 n / A 0.6

1EBITDA: Profit before depreciation and amortization, net of reversals.

A very solid first half of 2021: 28% organic growth

BIO-UV recorded in the first half of the year a consolidated turnover of € 16.1 million, a sharp increase of + 28% compared to H1 2020. It should be noted that, for H1 2020, the Group had already recorded sales growth of 57%.

This strong growth in the first half of the year, driven exclusively by organic trends, is the result of double-digit growth in all of the Group’s divisions: + 34% for maritime companies and + 26% for land activities, mainly driven by the commercial success of the new O’Clear chemical-free water disinfection solution for residential swimming pools and thanks to strong export sales.

First half EBITDA2: + 77%, reflecting a further improvement in EBITDA2 12.6% margin

First half EBITDA2 came out at € 2.0 million, up 77% compared to a year earlier. This good performance is the result of good cost control in a context of sustained growth, with an increase in salary costs limited to 17% (14% linked to the increase in headcount) and an almost stable trend in other purchases and external costs. (+1%).

As a result, the EBITDA margin reaches a record 12.6% for the first half of 2021, compared to 9.1% in H1 2020 and 6.5% in H1 2019.

After net allocations to provisions for depreciation and amortization (€ 1.3 million), operating profit amounted to € 0.7 million, up 224% compared to H1 2020 (€ 0.2 million).

After correction of the financial result and the exceptional result, the net profit attributable to the group amounts to € 0.6 million, after a net loss of 0.1 million euros published for the first half of 2020. In the first half of the year, the half-year net income group share was already higher than the performance recorded for the whole of 2020.

Strong generation of operating cash flow in H1 2021: € 1.8m

During the first half of 2021, the Group has Record gross operating cash flow of 2.1 million euros, more than three times higher than a year earlier (0.7 M €) and close to the level observed for the whole of the previous year (2.4 M €).

Variations in Working Capital Requirements were limited to -0.4 M € in the first half of the year, thanks to shorter customer payment periods and stable stocks, generating solid operating cash flow of € 1.8m in the first half.

Investing activities amounted to 1.3 million euros, mainly related to capital expenditure (assets) to continue the structuring of the Group and to the costs of certification of the new BIO-SEA M-Series system for the treatment. medium and high flow ballast water.

The net financial expense amounted to 1.5 million euros, of which 0.9 million euros was allocated to net repayments of financial debts.

At the end of June 2021, available cash remained high at € 11.3 million, with financial debt falling to € 10.3 million (excluding rental debt of € 2.1 million, i.e. net cash of 1.0 million euros.

At the end of June 2021, the Group’s share capital stood at € 30.6 million, against € 30.2 million at the end of 2020.

This first-half performance is perfectly in line with the roadmap and the orientations set for the 2021 financial year: continue to generate double-digit organic growth in the business, while increasing profitability, with higher EBITDA margins as well as higher EBITDA performance in absolute terms.

In terms of external growth, BIO-UV remains very active and pursues advanced discussions in the world of chemical-free water disinfection, both in France and internationally.

Benoît Gillmann, Chairman and CEO of Bio-UV, said:

“We are particularly proud of our performance in the first half of this year: BIO-UV once again posted strong growth in its results, despite the context impacted by the health crisis, particularly in terms of supply and price inflation. raw material. Despite this, we generated strong sales growth and, thanks to good control of overhead costs, we significantly improved the Group’s profitability.

We are also confident in our short-term external growth opportunities, in line with our fundraising objectives from October 2020. ”

Financial calendar

Events Dated
2020 annual turnover January 27, 2022
Results for fiscal year 2021 April 6, 2022

The press release will be published after the close of the Euronext Paris market.


About the BIO-UV Group
Created in 2000, BIO-UV Group designs, manufactures and markets innovative ultraviolet water and surface 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), the BIO-UV Group has obtained the “Innovative Company” label from Bpifrance and is eligible for PEA-PME.

Contacts:


1 EBITDA: Profit before depreciation and amortization, net of reversals.
2 Net financial debt = financial debt and borrowings (excluding lease debt) – available cash



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