David Traynor, CEO at Byotrol is interviewed by Donald Leggatt from London South East. Bytrol have announced Full year Results up to March 2020, and David described it as 'a good year ' and acknowledged 'we are pretty confident about the following year already'.
"We hit all our key targets financially and strategically and we completed the accelerated earn out of Medimark at very favourable terms to Byotrol shareholders" he explained. "Medimark brought a sales team where we had a strong tech team, so we were a natural fit."
Covid has accelerated the changes in the marketplace, which favour a science based approach to surface and hand sanitiser products. "Demand has rocketed through the roof, which creates an even more favourable environment for companies such as ours with good, high performance chemistries which are regulatory-approved. Business-wise its very very propitious for us." said David.
Sales projections by Finncap for this current financial year to 31 March 2021 "show sales of £11.5M with ebitda of £1.75M. You can see the prognosis is very good for this year. " David explained this is in part because of high operational gearing which means new sales are more profitable.
"What we are going to project for the following year we are working on now although it will take some time to come up with what the appropriate figure is. I would say the market environment has changed for good."
Tristel and SC Johnson illustrate nicely the portfolio approach we take to doing business where we enter into licencing agreements with partners to get us into markets where we don't have the distribution ourselves. "We make 100% margin on those royalties. They take a while to get moving, but once they do they are very, very profitable."
And finally, Byotrol would be interested in a new deal and see that there will be opportunities, although there is nothing imminent right now.