11 Jul 2022 07:00
Byotrol plc ("Byotrol" or the "Company")
Post Close Trading Update
Notice of Results
Byotrol plc (AIM: BYOT), the infection prevention technology company, today provides an update on trading for the year ended 31 March 2022. Subject to audit, it is expected that the results will be in line with the trading updates made ahead of the year-end including:
· Sales of £6.3m, comprising £5.2m from product sales and £1.1m from IP sales and royalties;
· Positive Adjusted EBITDA, before exceptional items;
· Cash at year end of £1.1m.
The Board is pleased to report that for the first time we include in IP revenue a contribution from Solvay for Byotrol's on-going participation in Solvay's sales of Actizone 24 hour surface sanitiser. As previously announced, this is a small quantum, but a very encouraging first financial step.
Post-period end
Since the year end, the Company has closed two significant new IP agreements.
1. a multi-year, three-way, exclusive agreement between the Company, our US licensee Integrated Resources International (IRI), and a significant US distribution company ("USCo"), to sub-register with the US EPA and then sell the Byotrol24 surface sanitiser under USCo branding into US Professional markets. Should formal registration be achieved - expected within 12 months - sales by IRI to USCo will accrue additional royalties to Byotrol. The Company expects to have further clarity on this when it reports its audited results for the year.
2. a seven year license in alcohol-free hand sanitisers with Rentokil Initial Plc . This is a non-exclusive license of rights to our proprietary hand sanitising formulation for distribution by Rentokil under its own brand into serviced washrooms, predominantly in the UK and Europe
Byotrol expects to release audited final results for the full year to 31 March 2022 before the end of next month.
David Traynor, CEO of Byotrol plc, commented:
"We are pleased to confirm that our results for the past year will meet expectations as described in our trading update of early March.
We are also pleased to announce further progress in licensing and IP, with two new agreements with best-in-class names in their respective markets, and confirmation that Solvay's Actizone24 product is now gaining commercial traction.
Underlying market trends remain very favourable for our long-term growth. We look forward to providing a further update on product and IP sales with the release of our final audited results, which is expected in August."
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information, visit www.byotrolplc.com, follow on twitter @byotrol, or contact
Byotrol plc
David Traynor - Chief Executive Officer
Chris Sedwell - Chief Financial Officer 01925 742 000
finnCap
Geoff Nash/ James Thompson - Corporate Finance
Richard Chambers - ECM - 020 7220 0500
Flagstaff Strategic and Investor Communications 020 7129 1474
Tim Thomson/Andrea Seymour/Fergus Melon byotrol@flagstaffcomms.com
Notes to Editors:
Byotrol plc (BYOT.L), quoted on AIM, is a leading infection prevention and control company, operating globally in the animal health, human health, facilities management, and consumer sectors.
Byotrol develops unique antimicrobial technologies for use on surfaces, skin and instruments, which it then commercialises through market-leading distribution partners in each sector.
Byotrol's antimicrobial technologies can be licensed for use in leading brands, to significantly improve their product claims, while reassuring consumers and end-users of their efficacy and quality.
Founded in 2005, the Company develops technologies and products with the aim of providing easier, safer and cleaner lives for everyone.