* Growth exceeding targets announced
* Acceleration of the ballast water treatment market: +68%
* 2019 order book in ballast water treatment already ahead of 2018 revenues for
* Reiteration of 2022 ambitions
"The acceleration that we anticipated in the ballast water treatment market was
confirmed and even exceeded our expectations at the end of the year. Given the
strict regulations facing shipowners around the world since 2017, many of them
want to comply as soon as possible before the law comes into force in 2019, and
the cut-off date in 2024, by equipping their fleet with a water ballast
treatment system. Our inclusion in the very small circle of systems with a
double certification (IMO and USCG), gives us a priority position in the
decision-making process of these shipowners. This position, combined with the
performance of our equipment and our international reach, allows us to capture
a significant share of this global market. This momentum could already be seen
in our 2018 growth, which surpassed our objectives, and it is continuing in
2019 with an order book at end January that already exceeds our 2018 revenues,"
says Benoit Gillmann, CEO and founder of BIO-UV Group, pleased.
BIO-UV Group (ISIN code: FR0013345493/Ticker: ALTUV), a specialist in UV water
treatment systems, announced today the publication of its 2018 revenues.
In 2018, BIO-UV Group surpassed its growth objectives, reporting a +22%
increase in its total revenues over the period, compared with an initial growth
objective of at least +15%, announced last October upon the publication of its
2018 half-year results.
This excellent performance was driven in particular by the sharp acceleration
of the ballast water treatment activity, which overshot objectives with growth
of +67.7% over the year, and steady sales in historic activities.
Change in annual sales by business segment
In EUR million at 31 December 2018 2017 Change
Historical markets 7.2 7.1 +1.4%
Ballast water treatment 5.2 3.1 +67.7%
TOTAL TURNOVER 12.4 10.2 +21.6%
Acceleration of the ballast water treatment market
The strict regulation that requires all new ships - and starting from September
2019, all existing ships - to have equipment to treat their ballast water, has
benefited BIO-UV Group, which saw a ramp-up in its order intake in 2018.
Thanks to its double IMO and USCG certification(1), currently held by only
three other UV system companies in the world (and by only eleven tech companies
overall), BIO-UV Group was able to sign many shipowners and shipyards,
including some of the largest global players in the field.
Revenues for the activity saw substantial growth of +67.7%, exceeding the
announced growth objective of at least +60% for the year.
Historical markets saw their activity continuing at a sustained pace, with
slight growth over the period. This performance was buoyed by France, which saw
significant growth (+20%), enabling it to boost its market share in the area,
and showed a slight, temporary decline in exports due to the difficult
geopolitical context in the Group's strategic regions.
2019 order book for the ballast water treatment activity: EUR5.6m billable in
2019, already an increase on 2018 revenues
BIO-UV Group is enjoying excellent visibility in 2019, with an order book at 31
January 2019 of EUR5.6m for its ballast water treatment activity, entirely
billable in 2019 and already exceeding its total 2018 revenues in this market.
Historical markets also offer strong visibility. After a steady performance in
2018, notably at the end of the year with the success of our interests in the
Piscine Globale Europe and Pollutec 2018 trade shows, the historic activities
should see stronger growth in 2019, driven by anticipated order intake and the
Group's historic positions in France and abroad.
Reiteration of 2022 ambitions
These performances are perfectly in line with the Group's ambitions for 2022:
to achieve revenues of around EUR40m and operating margin in excess of 10%.
About BIO-UV GROUP
Created in 2000, BIO-UV Group designs, manufactures and markets innovative
ultraviolet water treatment systems. The range of equipment developed by the
Group is aimed at several markets:
(1) IMO: International Maritime Organisation - USCG: United States Coast Guard
- The recreation market, on which BIO-UV Group is no. 1 in France and in
Europe for UV water treatment in residential swimming pools, and for the
public and semi-public community pool dechlorination market;
- The municipal and industrial markets, on which specific ranges have been
developed for applications such as: purification, effluent treatment,
wastewater reuse, process waters, aquaculture, etc.;
- The ballast water treatment market, which has benefited since 2017 from a
new international regulation requiring all ships to have equipment to treat
their ballast water.
BIO-UV Group generated in 2018 revenue of EUR12.4 million and had 70 employees
as of 31 December 2018. At the end of 2017, EBITDA was EUR1.1 million,
representing an EBITDA margin of 11.1%.
BIO-UV Group has been granted the "Innovative Company" label by Bpifrance and
is eligible for the French "PEA-PME" investment scheme.