Last checked at 19 Feb 2018 07:00
LEI: 213800FLQUB9J289RU66
19 February 2018
BATM Advanced Communications Limited
("BATM" or "the Group")
Trading Update
FY 2017 results expected to be ahead of market expectations
BATM Advanced Communications Limited (LSE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, provides the following update on trading for the year ended 31 December 2017 ahead of the publication of the Group's full year 2017 results on 5 March 2018.
The Group had a very successful second half of the year with both of its divisions gaining new customers, securing new contracts and expanding into new territories. As a result, the Group expects to report revenue for the year ended 31 December 2017 significantly ahead of market expectations at approximately $106m, representing year-on-year growth of approximately 17%. The Group also expects to report EBITDA of approximately $7.0m (2016: $2.8m). The 2017 EBITDA includes the benefit of profits on disposal of a wholly-owned building in December 2017 of approximately $5.6m (2016 EBITDA of $2.8m included the benefit of profits on disposal of another building of approximately $3.1m).
The increase in revenue was driven by growth in both of the Group's divisions. The Networking & Cyber division generated significantly better-than-expected sales largely due to growth in the Group's existing ICT services and solutions business as well as its success in implementing its strategy to leverage the telecom industry transition from hardware to Network Function Virtualisation ("NFV") and Software-Defined Networking ("SDN"). During the period, as previously announced, the Group established partnerships with a number of leading telecoms and semiconductor companies such as NXP and ARM, with the respective partners offering joint solutions for NFV/SDN. Revenue growth in the Bio-Medical division was driven by stronger sales in the distribution unit, mostly based on diagnostic and molecular biology products and services.
Further details will be provided in the Group's full year results announcement on 5 March 2018.
Enquiries:
BATM Advanced Communications | |
Dr Zvi Marom, Chief Executive Officer | +972 9866 2525 |
Moti Nagar, Chief Financial Officer | |
Shore Capital | |
Mark Percy, Anita Ghanekar | +44 20 7408 4050 |
Luther Pendragon | |
Harry Chathli, Claire Norbury | +44 20 7618 9100 |
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.