Batam raises forecasts for the third time this year – the capital market

The Company will report its financial statements on February 22nd.

Batam, which also trades on the London Stock Exchange (NYSE: BVC) and focuses on developing, manufacturing and marketing communications and cyber systems and medical equipment for laboratory testing, reported in its results for the first half of 2020 that it enters the second half of the year with a higher backlog than in the same period in 2019. The trend has intensified in the last six months, with higher-than-expected demand for the group’s diagnostic products towards the end of 2020, as the second wave of the corona plague spread around the world.

According to the company, the growth in the previous year was due to the activities of the Biomed division, especially in the diagnostics activities that developed, among other things, diagnostic kits for the outbreak of the corona plague, mainly in sales to health authorities and laboratory networks in Europe and Southeast Asia. The company continues to receive orders for diagnostic solutions for 2021. The eco-meter activity also contributed to the exceptional results of the Biomed division in 2020 with the manufacture of respirators.

The company explains that the networks and cyber division also demonstrated strength despite the restrictions on traffic and the division’s ability to install equipment among its customers against the background of global closures. In addition, the group continues to promote its virtual networking solution – which is expected to be another growth engine for its business. The company has secured a three-year license agreement with First Tier-1 customer for NFVTime solution and successful feasibility trials with communications operators in Europe and Asia Pacific, including Vodafone.

In an interview with BizPortal, the company’s CEO Dr. Zvi Marom recently warned that “the corona will not be the only epidemic in the coming decades.”