€44.4 million
pro forma turnover16.8%
pro forma EBITDA margin7.4%
pro forma net marginProposed payment to shareholders of
€0.05 per share
deducted from the issue premium
During its meeting of April 4, 2022, the Board of Directors of
BIO-UV Group (Euronext Growth
®
– FR001334549 – ALTUV)
, specialist in water treatment and disinfection systems by UV, ozone, salt electrolysis and AOP, approved the 2021 annual accounts, closed on December 31, 2021. The audit procedures on the accounts have been carried out and the certification report is being issued by the Statutory Auditors. The annual report for the 2021 financial year will soon be available on the BIO-UV website, www.bio-uv.com, Investors area, Documentation tab.
Annual income statement as of December 31
Data in M€ – French standards | Financial year 2020 | Financial year 2021 | Variation | Financial year 2021 | |
|---|---|---|---|---|---|
|
Turnover | 32.2 | 33.5 | +4% |
44.4 | |
|
EBITDA 3 | 3.3 | 3.9 |
+19% |
7.5 | |
|
EBITDA margin |
10.3% |
11.7% |
+140bp |
16.8% | |
Net amortization charges. and prov. | 1.9 | 2.8 | 2.9 | ||
|
Operating result | 1.4 | 1.0 |
4.6 | ||
|
Net income (Group share) | 0.6 | 0.7 |
+18% |
3.3 | |
|
Net margin |
1.8% |
2.1% |
+30 bps |
7.4% |
1
Corelec has been consolidated in the Group accounts since 1
er
November 2021.
2
By integrating Corelec over the 12 months of the past financial year (from 1
er
January to December 31, 2021).
3
EBITDA: Operating profit + Depreciation and provisions net of reversals.
In fiscal year 2021, BIO-UV Group recorded consolidated revenue of €33.5 million.
The Corelec company, acquired in November 2021 and consolidated over the two least contributive months of the financial year given the swimming pool seasonality, contributed €1 million to consolidated revenue. Over the whole of 2021, Corelec achieved annual revenue of €11.9 million, a strong increase of +101% compared to 2020.
On a pro forma basis, integrating Corelec over 12 months,
BIO-UV Group’s 2021 turnover amounts to €44.4 million
reflecting the change in dimension made at the end of the financial year.
12.0% EBITDA margin
[4]
in 2021 (excluding Corelec)
At the end of the 2021 financial year, EBITDA stood at €3.9 million in consolidated data, up +19%.
Excluding Corelec, the EBITDA margin stands at 12.0% in 2021.
After accounting for the financial result, made up of interest charges and foreign exchange gains, and an exceptional result limited to -€0.1 million,
net income, Group share amounted to €0.7 million,
up by +18% in 2021. The 2021 net margin thus stands at 2.1% compared to 1.8% in 2020.
16.8% pro forma EBITDA margin
[5]
For its part, Corelec achieved an EBITDA of €3.6 million in 2021, representing an EBITDA margin of 30.0%.
On a pro forma basis,
the EBITDA of the new entity stood at €7.5 million in 2021, materializing an EBITDA margin of 16.8%.
Pro forma operating profit amounted to €4.6 million, representing an operating margin of 10.4%.
the
pro forma net income is €3.3 million
including a corporate tax charge of €0.6 million, i.e. a
pro forma net margin of 7.4%
.
€3.3m operating cash flow in 2021, excluding scope effect
BIO-UV generated a gross cash flow of €3.6 million in 2021, up +55% over the financial year (€2.4 million generated in 2020) and limited the variation in the turnover at -€0.3m (-€2.5m in 2020) excluding scope effect. BIO-UV thus generated a
solid operating cash flow of +€3.3m
in 2021 (compared to -€0.1m in 2020) excluding scope effect.
Investment operations consumed €29.3 million, including €26.7 million dedicated to the acquisition of Corelec and €2.7 million in CAPEX (acquisition of fixed assets) to pursue the structuring of the Group and the certifications of new systems, particularly on maritime and aquaculture activities.
The acquisition of Corelec was financed by setting up €18.0 million in new financing, including €13.0 million in bank debt and €5.0 million in bonds. At the same time, BIO-UV repaid loans for €2.0 million.
As of December 31, 2021, net financial debt
[6]
was €27.6 million and shareholders’ equity amounted to €30.8 million (compared to €30.2 million at the end of 2020).
Proposed payment to shareholders of €0.05 per share
In view of BIO-UV’s solid performance in 2021 and a sound financial structure, the Board of Directors of April 4, 2022 decided to propose to shareholders, during the general meeting of May 25, 2022, the payment of an amount in cash of €0.05 per share, deducted from the issue premium, for the 2021 financial year. Subject to the favorable vote of the shareholders at the general meeting, the detachment of this payment would take place on June 28, 2022 and its settlement on June 30, 2022.
This 1
time
proposed payment to shareholders of the history of BIO-UV testifies to the company’s desire to follow a regular distribution policy over the coming years.
23% increase in pro forma sales in 1
er
quarter 2022
Despite the conflict in Ukraine and the still strong tensions on the supply chains, BIO-UV got off to a good start in the 2022 financial year, both for its historical scope and for the Corelec company.
After the 1
er
quarter, the Group is in line
pro forma growth (by integrating Corelec) of +23%
. On the historical scope (excluding Corelec), the Group is in
quarterly organic growth of +15%
, with sustained growth in the activity of the Maritime division. The latter benefits from both the postponement of orders and deliveries from 2021, and from a buoyant market with the strengthening of its teams.
Furthermore, the integration of Corelec is well under way.
Geopolitical situation Russia – Ukraine
Regarding the conflict in Ukraine, the Group generated around 1% of its activity in 2021 in Russia, Belarus and Ukraine.
BIO-UV has no production site or employee exposed to this area, and does not make any direct purchases with suppliers in these countries.
Outlook 2022
In view of the turnover achieved on 1
er
quarter and orders already signed and to be delivered on the 2
th
quarter, the amount of invoicing for the 1
er
semester 2022 is already at the level of the 1
er
half of 2021 (including Corelec), i.e. approximately €23 million. It will be necessary to add to this amount the invoicing on the orders to come during the 2
th
trimester.
Despite a troubled context, the year should however be marked by continued dynamic growth in activity, accelerated by the contribution of Corelec.
Benoit Gillmann, Founder & Chairman – Managing Director of BIO-UV Group, declares:
”
Having evolved in a complex market for more than two years, to which was added the geopolitical crisis at the start of 2022, I would like to thank and congratulate all the teams at
BIO-UV, in Lunel and Muret in France as well as Glasgow in Scotland, for their efficiency, their mobilization and their motivation. This commitment has enabled us to achieve an excellent year in 2021, and to embark on a promising and growing start to the year 2022!
The 2021 financial year is indeed remarkable due to the growth achieved, with a turnover of €44.4 million on the Group’s new real scope, but also the profitability displayed with an EBITDA of €7.5 million. , or 16.8% EBITDA margin. These results allow us, for the 1
time
time, to propose at the next general meeting the payment of a bonus of €0.05 per share and thus mark the start of a distribution policy as a thank you to our shareholders. This year 2021 also bears witness to the pursuit of a clear and ambitious strategy, with a strong position in the recreational market, through the acquisition of Corelec, and the start of our ramp-up in the aquaculture markets, industrial processes and the reuse of wastewater (“reuse”) in particular.
Finally, I would like to insist once again on the key positioning of BIO-UV on the water market, real blue gold. There is nothing more essential for life. It is impossible to live without drinking water and without treated or even reprocessed water. The techniques, without chemicals, designed, manufactured and marketed by BIO-UV make it possible to make “these waters” healthy. This absolute necessity places us in an essential strategic area, with permanent and sustained growth. The vital issue represented by the equation “more population, less water to drink” directly impacts the activity of recognized companies that master these treatment technologies such as BIO-UV. BIO-UV is thus at the heart of environmental and sustainable themes. »
Financial diary
Publications | dates |
|---|---|
2022 half-year revenue |
July 20, 2022 |
2022 half-year results |
September 21, 2022 |
2022 annual turnover |
January 25, 2023 |
2022 annual results |
April 5, 2023 |
All publications will take place after the closing of the Euronext Paris markets.
About BIO-UV Group
Created in 2000, BIO-UV Group designs, manufactures and markets innovative water disinfection systems using ultraviolet light, salt electrolysis, ozone and AOP (advanced oxidation process).
Listed on the Euronext market
®
Growth in Paris (FR0013345493 – ALTUV), BIO-UV Group is labeled Innovative Company by Bpifrance and is eligible for the PEA-PME scheme.
contacts:
|
BIO-UV Group +33 (0)4 99 13 39 11 [email protected] |
Investor Relations Mathieu Omnes – NEWS +33 (0)1 53 67 36 92 [email protected] |
Press relations Serena Boni – NEWS +33 (0)4 4 72 18 04 92 [email protected] |
[4]
EBITDA: Operating profit + Depreciation and provisions net of reversals.
[5]
By integrating Corelec over the 12 months of the past financial year (from 1
er
January to December 31, 2021).
[6]
Net financial debt = borrowings and financial debts (excluding finance lease loans) + other financial debts – available cash
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– Press release on accounts, results
Full and original press release in PDF format:
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