BIO UV: 2020 Annual Results - Good Start To 2021: Growth Of Over 20% In The 1st Quarter


+152% increase in EBITDA in 2020, for a record annual EBITDA margin of 10.3%

EBITDA2 came out at €3.3m in 2020, an increase of 2.5x compared with 2019 (+152%).

Despite the full-year impact of the contribution of Triogen employees, the increase in payroll expenses was limited to +34% in 2020 (+4% on a pro forma basis). The increase in other purchases and external expenses was also contained, at +47% (+18% on a pro forma basis).

As a result, the EBITDA margin increased from 6.6% in 2019 to 10.3% in 2020, exceeding the 10% objective set in early 2020 before the advent of the health crisis.

Including provisions for depreciation and amortisation (€1.9m), operating income amounted to €1.4m, compared with an operating loss of -€0.4m in 2019.

Following the recognition of financial income and exceptional income, which notably includes non-recurring legal fees of €0.4m, net income Group share was a positive €0.6m, compared with a net loss of -€0.4m in 2019.


A solid and reinforced financial position in 2020: €12.6m in cash and cash equivalents

The Group generated a record gross cash-flow margin of €2.4m in 2020, up 192% year on year. Driven by buoyant activity at the end of the year, the change in the working capital requirement represented €2.5m in 2020 compared with €1.4m in 2019.

Investment transactions represented €3.2m, of which €3.0m in CAPEX (acquisition of fixed assets) to support development (€1.8m for Maritime activities).

Net financing flows totalled €14.3m, a result of the capital increases carried out in 2020 (€1.5m in May and €12.7m in October) and the subscription of a State-guaranteed loan (PGE) of €2.8m.

At 31 December 2020, cash and cash equivalents amounted to €12.3m, with financial debt of €11.1m (excluding finance lease liabilities of €2.5m), for a positive net cash position of €1.2m (compared with net financial debt3 of €9.8m at 31 December 2019).

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Disclosure: Information in “The Felder Report” (TFR), including all the information on this website, comes from independent sources believed reliable but accuracy is not guaranteed and ...

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