Batam: Earnings per share rose by about 140% – the capital market

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Batm
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Reports its results for 2020 and shows 49% growth in revenue, which amounted to $ 183.6 million, compared to $ 123.4 million in 2019. Earnings per share stood at 2.22 cents per share, 139% higher than earnings per share of 0.93 cents per share a year earlier.

Against the background of sales activity for diagnostic kits for Corona and respiratory devices for intensive care, the biomedical division’s revenues doubled compared to 2019, accumulating to $ 128.7 million – 70% of the company’s total revenues. The division’s gross profit margin improved by 1270 basis points to 36.3% compared to 23.6% in 2019, against the background of the mix of products in the reporting period that mainly include the new products for molecular biology-based diagnostic tests.

In the Networks and Cyber ​​division, revenues fell by 6.7% to $ 54.9 million, compared to $ 59 million in 2019. Batam explains the decline by saying that the corona made it difficult for customers to install the equipment. The division’s gross profit margin also decreased, which stood at 25.5% in 2020, compared with 30.5% last year, due to the effect of the corona on the mix of products in the division.

The entire group recorded a gross profit of about $ 60 million in 2020, compared to $ 33 million in 2019. The gross profit margin increased by 620 basis points to a level of 33.1% compared to 26.9 previously. EBITDA for the period doubled to $ 19.7 million. In 2020, the company generated free cash flow from operating activities amounting to $ 20.1 million, 138% higher than an amount of $ 8.4 million at the end of 2019.

Batam’s forecast for the coming year is for continued strong demand for its molecular testing kits and systems. Another expectation is that NFVTime sales will make a significant contribution to the entire year’s revenue of the Communications and Cyber ​​Division with the planned launch of the solution by PCCW and the expected adoption of other operators. Batam estimates that sales of additional products in the division will return to growth after the closures are lifted and with a return to routine. The board also expects an improvement in gross profitability as a result of the expected increase in the group’s revenues from molecular diagnostics solutions and from NFV.

“It has been an extraordinary year for Batam,” he noted Dr. Zvi Marom, CEO of the company With respect to reports. “We have shown significant financial growth, driven by our biomedical division, which has been able to respond quickly to the outbreak of the corona epidemic and, among other things, develop diagnostic tests for the corona and manufacture respiratory machines for intensive care units while continuing its regular activities. “With the first Tier-1 client for the NFVTime solution, which will begin launching the solution soon. As a result, we are making significant progress in implementing our strategy in molecular diagnostics and NFV, which are our future growth markets.”