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BATM Advanced Communications #BVC – Result of General Meeting
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that at the general meeting of the Group held today, the resolution was duly passed.
Details of the proxy voting results, which should be read alongside the Notice of General Meeting, are below:
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Resolution |
Votes for |
Votes against |
Votes withheld |
Total proxy votes |
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No. of votes |
% of votes cast* |
No. of votes |
% of votes cast* |
No. of votes |
||
|
1 |
276,069,541 |
97.26 |
7,751,047 |
2.73 |
23,401 |
283,843,989 |
(There were no discretionary votes cast)
* Excludes withheld votes
Enquiries:
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BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
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Moti Nagar, Chief Financial Officer |
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Shore Capital |
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Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
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+44 20 7408 4050 |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
BATM Advanced Communications #BVC – Founder and CEO Dr Zvi Marom talks to Alan Green
London and Tel Aviv listed BATM Advanced Communications is a leading provider of real-time technologies for networking solutions and bio-medical systems, with a raft of tier 1 clients spanning the globe. Both Bio Medical and Networking & Cyber divisions have grown rapidly thanks to strong intellectual property backed by strong patents.
The company has just announced an impressive set of FY results, with a huge 339% jump in operating profits, group revenues up 18% from ongoing operations and group cash and assets up 27% to $67.8m. Founder and CEO Dr Zvi Marom talks to Alan Green about the group progress to date, the results, the FTSE Russell Nationality review and upcoming value inflection points.
#BVC BATM Advanced Communication – Full year Results
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces its preliminary results for the year ended 31 December 2021.
Financial Summary
|
$m |
2021 |
2020 |
Change |
|
Results from ongoing operations (adjusted)* |
|||
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Revenue |
132.8 |
112.6 |
+1 8.0 % |
|
Gross profit |
50.2 |
41.0 |
+22.5% |
|
Gross margin |
37.8% |
36.4% |
+140bps |
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Operating profit |
11. 3 |
2.6 |
+339.5% |
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EBITDA |
15.7 |
6.6 |
+138.8% |
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|
|
|
|
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Reported results |
|||
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Revenue |
140.0 |
183.6 |
(23.7%) |
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Gross profit |
51.1 |
60.7 |
(15.9%) |
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Gross margin |
36.5% |
33.1% |
+340bps |
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Operating profit |
24. 4 |
14.2 |
+71.3% |
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EBITDA |
29.6 |
19.7 |
+50.4% |
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Cash from operations |
8.7 |
20.1 |
(56.8%) |
|
Basic earnings per share (cents) |
3.26¢ |
2.22¢ |
+46.8% |
|
Cash and financial assets |
67.8 |
53.4 |
+26.9% |
* Adjusted to present the results on an ongoing operations basis by excluding (1) the contribution to both years from NGSoft, a subsidiary that the Group sold in March 2021, (2) the contribution to 2020 from a significant contract for the supply of ventilators, which was exceptional in nature, and (3) the amortisation of intangible assets for both years. The term ‘ongoing operations’ in this announcement is used for comparative purposes only and is not used in the same context as in accounting standards. For further information see Note 3 – Other alternative measures.
Operational Summary
Bio-Medical Division (84% of total revenue from ongoing operations)
· Revenue from ongoing operations ( excluding the contribution to 2020 from an exceptional ventilator contract) increased by 17.7% to $112.0m (2020: $95.2m), reflecting growth in all units
· Diagnostics Unit – revenue +38%
o Significant sales growth driven by strong global demand for COVID-19 test kits (reagents) and diagnostic instruments and supported by increased sales of products in other disease areas
o Expanded COVID-19 diagnostics portfolio with launch of new solutions, including a test that uses self-collected saliva samples and the RAPiDgen® SARS-CoV-2 Ag test for at-home use
o PCR and iso-thermal method being developed by the Group for the rapid and comprehensive diagnosis of tuberculosis received the backing of the Stop TB Partnership, an international alliance
· Eco-Med Unit – revenue +37% (excl. contribution from exceptional ventilator contract)
o Returned to underlying growth with delivery resuming on contracts for the installation of the Group’s ISS-based pathogenic waste treatment solution
o Progress made in projects with Ceva Animal Health and a Taiwanese agri-food conglomerate
o Awarded a contract for its agri-waste treatment solution by a cattle facility in Botswana – the Group’s first contract for its agri-waste solution in Africa
· Distribution Unit – revenue +9%
o Increased revenue driven by the distribution of several molecular tests and of COVID-19 diagnostic reagents and equipment
Networking and Cyber Division (16% of total revenue from ongoing operations)
· Revenue from ongoing operations (which excludes the contribution from NGSoft to both years) increased by 19.5% to $20.7m (2020: $17.3m) , reflecting underlying growth in both the Networking and Cyber units
· Networking Unit – revenue +13% (excl. contribution from NGSoft)
o Launched Edgility, an ecosystem of networking products and services for edge computing based on the Group’s network function virtualisation (“NFV”) technology
§ Won two edge computing contracts expected to be worth an aggregate of $2.7m over a multi-year period, which commenced generating revenue post year end
§ Successful proof-of-concepts conducted with several potential customers and partners worldwide, which the Group expects will translate to orders in 2022
§ Established four new partnerships, including one post period, to boost Edgility sales and market presence through the offering of joint solutions
§ Expanded addressable market with enhancement of Edgility OS to enable use for public cloud environments
o Network Edge (Carrier Ethernet)
§ Resumption of normal business practices resulted in an increase in revenue during the year and a substantial increase in backlog, which is for delivery in 2022
§ Awarded a contract from a new tier 1 telecommunications operator customer in APAC, which contributed significantly to the unit’s growth
· Cyber Unit – revenue +111%
o Awarded over $18m in cyber security contracts from a long-standing government defence department customer
o Delivery of these orders commenced during the year and will continue in 2022 and 2023
o The contracts include a $10m multi-year contract for the delivery of an advanced network security solution containing elements of NFV protection
Commenting on the results, Dr Zvi Marom, Chief Executive Officer of BATM, said: “ We are delighted to be announcing another excellent set of results with growth from ongoing operations in all of our business units. We are particularly proud of the significant progress made in our Diagnostics unit, where our investment in recent years has really come to fruition, and of the substantial contracts awarded during the year in our cyber business. We were also excited to launch our Edgility platform for edge computing and virtual networking, which we believe will be a key driver of our future growth.
“Looking ahead, we entered the new year with sustained momentum across the business and we remain on track to deliver significant growth for full year 2022, in line with market expectations. We have established solid foundations in core technologies that are now at an inflexion point of becoming market disrupters. We will continue to cultivate growth and development across our business as well as pursue opportunities to accelerate the realisation of the value of the IP within our different units through strategic transactions. We have an exciting future ahead of us and we look forward to reporting on our progress and delivering value for our shareholders. “
Enquiries:
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BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
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Moti Nagar, Chief Financial Officer |
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Shore Capital |
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Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory) |
+44 20 7408 4050 |
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Henry Willcocks (Corporate Broking) |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
Alan Green covers Conroy Gold #CGNR and BATM Advanced Communications #BVC on this week’s Stockbox Research Talks
Alan Green covers Conroy Gold #CGNR and BATM Advanced Communications #BVC on this week’s Stockbox Research Talks
BATM Advanced Communications #BVC – Notice of General Meeting
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, gives notice that a General Meeting of the Group is to be held at 12:00 p.m. Israel-time (10:00 a.m. UK-time) on 17 March 2022 at the Group’s registered office at 4 Ha’harash Street, Nave Ne’eman Industrial Area, P.O.B. 7318, 4524075 Hod Hasharon, Israel.
The purpose of the Meeting is to seek shareholder approval for the buyback of up to 44,053,412 ordinary shares of NIS0.01 (“Ordinary Shares”) in the capital of the Group, representing 10% of the Group’s issued share capital as at the date of this announcement. The Group has a strong balance sheet and the Buyback Programme, which would be funded from the Group’s net cash, forms part of the Board’s broader strategy to deliver shareholder value.
In order to enable shareholder engagement and participation for those unable to physically attend the Meeting, shareholders will be able to access the Meeting via videoconference. Please note, shareholders will not be able to vote at the Meeting via the videoconference. Shareholders attending the Meeting via videoconference are therefore strongly encouraged to submit their vote in advance the Meeting.
Further information on the Buyback Programme, and details on how to register to attend the Meeting via videoconference, can be found in the Notice of General Meeting that, along with forms of proxy and direction, has today been made available on BATM’s website at: https://www.batm.com/investor-relations/agm-egm/
Enquiries:
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BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
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Moti Nagar, Chief Financial Officer |
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Shore Capital |
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Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
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+44 20 7408 4050 |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
Forward-looking statements
This document contains forward-looking statements. Those statements reflect the current opinions, evaluations and estimations of the Group’s management, and are based on the current data regarding the Group’s business as is detailed in this document and in the Group’s periodical, interim and immediate reports. The Group does not undertake any obligation or make any representation that actual results and events will be in line with those statements, and stresses that they may differ materially from those statements, due to changes in the Group’s business, market, competition, demand for the Group’s products or services, general economic factors or other factors that can influence the Group’s business and results, and due to information and factors that are currently unknown to the Group’s management and that, if known, would affect the management’s opinions, evaluations or estimations. The Group will report the actual results and events according to its legal, accounting and regulatory obligations, and does not undertake any other obligation to report them or their deviations from the forward-looking statements, or to update any of the forward-looking statements in this document or to report that it is not valid anymore.
BATM Advanced Communications #BVC – Strategic Partnership for Edgility with Advantech
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, announces that its Telco Systems subsidiary has partnered with Advantech (TWSE: 2395), a global leader in industrial IoT, to provide the Group’s Edgility virtual networking and edge compute operating system pre-installed on a variety of Advantech’s universal edge network appliances.
The partnership provides a further route-to-market for the Group’s Edgility solution, and a competitive advantage for the Group in targeting Advantech’s customer base as well as for both companies targeting new customers for the joint solution. Purchasers of an Advantech universal edge network appliance will contract directly with BATM to use the Edgility solution.
By bringing together BATM’s software with Advantech’s hardware, enterprise and service provider, customers can benefit from simpler and streamlined deployment, management and orchestration of networked devices and applications, whilst being cost-effective. The pre-installed offering also provides a wide range of preconfigured solutions optimised to support maximum functionality at the edge.
Edgility is BATM’s operating system for the creation of virtual networks and Edge Computing, which is a requirement for IoT, 5G and enterprise applications. The Group’s Telco Systems subsidiary, which offers Edgility, has recently been named as one of the 100 edge companies to watch in 2022 by STL Partners, a UK-based telecoms research and consulting firm. Find out more here.
Dr Zvi Marom , CEO of BATM, said: “We are delighted to be partnering with Advantech to provide our Edgility solution pre-installed on their network appliances, which will enable easier and faster adoption by customers. It reflects the strength of our offering in the rapidly growing Edge Computing market, which will enable Advantech to differentiate their products. With annual revenue of over US$1.7bn and selling globally from offices in over 20 countries, Advantech is a strong partner, and this collaboration enhances our competitive position and offers a further route-to-market. This is also a further example of our growth strategy across our business to accelerate the adoption of our solutions via collaborations with established partners. We look forward to working with Advantech and to continuing to expand our partner base.”
Enquiries:
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BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
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Moti Nagar, Chief Financial Officer |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
About Advantech
Founded in 1983, Advantech is a leading provider of trusted and innovative products, services, and solutions. Advantech offers comprehensive system integration, hardware, software, customer-centric design services, embedded systems, automation products, and global logistics support. We cooperate closely with our partners to provide complete solutions for a wide range of applications in diverse industries. Advantech’s mission is to enable an intelligent planet by developing automated and embedded computing products and solutions that facilitate smarter working and living. With Advantech products, the application and innovation potential becomes unlimited. (Corporate website: www.advantech.com )
Forward-looking statements
This document contains forward-looking statements. Those statements reflect the current opinions, evaluations and estimations of the Group’s management, and are based on the current data regarding the Group’s business as is detailed in this document and in the Group’s periodical, interim and immediate reports. The Group does not undertake any obligation or make any representation that actual results and events will be in line with those statements, and stresses that they may differ materially from those statements, due to changes in the Group’s business, market, competition, demand for the Group’s products or services, general economic factors or other factors that can influence the Group’s business and results, and due to information and factors that are currently unknown to the Group’s management and that, if known, would affect the management’s opinions, evaluations or estimations. The Group will report the actual results and events according to its legal, accounting and regulatory obligations, and does not undertake any other obligation to report them or their deviations from the forward-looking statements, or to update any of the forward-looking statements in this document or to report that it is not valid anymore.
#BVC BATM Advanced Comms – Trading Update and Notice of Results
BATM (LSE: BVC; TASE: BVC), a leading provider of real-time technologies for networking solutions and medical laboratory systems, gives notice that the Group will be announcing its results for the year ended 31 December 2021 on Monday 28 February 2022.
The Group is delighted to announce that it expects to report full year revenue and EBITDA for 2021 slightly ahead of market expectations (which were raised during the year on 23 August 2021) reflecting strong growth from ongoing operations* with increased revenue in both divisions. In particular, this has been driven by significant growth in the Group’s Diagnostics unit of the Bio-Medical division.
Looking ahead, the Group entered the new year with a substantially higher backlog from ongoing operations than at the same point of the prior year and the strong momentum of 2021 has continued. Accordingly, the Group remains on track to deliver significant growth for full year 2022 in line with market expectations.
Further detail will be provided in the Group’s full year results announcement on 28 February 2022.
Presentations to analysts and investors
Dr Zvi Marom, Chief Executive Officer, and Moti Nagar, Chief Financial Officer, will be holding presentations in London on the day of the results for:
· analysts at 9.00am GMT; and for
· private shareholders at 5.30pm GMT.
To register to attend either presentation, please contact laraapstein@luther.co.uk .
* Excluding the contribution to 2021 and 2020 from NGSoft, a non-core subsidiary that the Group sold in March 2021, and the contribution to 2020 from a significant contract to supply critical care ventilators, which was exceptional in nature.
Enquiries:
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BATM Advanced Communications |
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Dr Zvi Marom, Chief Executive Officer |
+972 9866 2525 |
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Moti Nagar, Chief Financial Officer |
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Shore Capital |
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Mark Percy, Anita Ghanekar, James Thomas (Corporate Advisory)
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+44 20 7408 4050 |
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Luther Pendragon |
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Harry Chathli, Claire Norbury |
+44 20 7618 9100 |
Ian Pollard – Ultra Electronics Keeps Shareholders On Side
Ultra Electronics ULE found 2017 to be a challenging year and only modest progress can be expected for 2018. 2017 ended with a strong order intake and a sound balance sheet but basic earnings per share fell by 20%. revenue by 1.3% and both underlying operating profit and underlying profit before tax both fell by 8.4%. So it will despite the poor year,raise its final dividend by 4.8% as any self respecting company will do when things are not good and and it needs to keep the shareholders in line. Mind you it did the same at half time when it had become apparent that things had started to go seriously wrong with its UK military business. Then it increased the interim dividend by 2.8p. per share even though storm clouds were gathering on the horizon.
Wizz Air Holdings WIZZ February passenger numbers rose by 23.5%, slightly less than the increase in capacity and the load factor also fell slightly to 91.2%. The network expanded with 4 new routes.
BATM Advanced Communications plc BVC 2017 became a milestone year as the company capitalised on previous investment and achieved its first year on year growth since since 2011. Revenue for the year rose by 18.5% and earnings per share moved from a loss of 0.27c oer share in 2016, to a positive 0.06c. Adjusted operating profit jumped from $0.9m to $5.6m. The bio medical division continued to show particular strength and growth momentum across both divisions, is expected to be maintained for 2018.
Zoo Digital ZOO updates that growth has continued into the second half and full year EBITDA is now expected to be above market expectations whilst full year revenue to the end of March should have risen from $16.5m to $28m.
Fusion Antibodies FAB updates that revenue for the year to the end of March is expected to show a rise of 40%, a substantial drop on the first half’s 70% growth but only because of the significant amount of management time and focus which had to be spend on the pre Xmas IPO. Growth rates are expected to resume their earlier trend now that management is free to concentrate on running the business.
My Sale Group plc MYSL produced a record first half performance for the half year to 31st December with underlying profit before tax rising by 266% on revenue up by 11%. Underlying basic earnings per share showed a rise of 82% and the active customer base rose by 12% to 1 million
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Ian Pollard – Reckitt Benckiser Returns To Growth In Fourth Quarter
Reckitt Benckiser RB delivered what it claims was a solid end to the year with like for like fourth quarter net revenue up by 2% on a constant currency basis, accompanied by volume led growth also of 2%. For the year as a whole like for like net revenue at constant exchange rates was flat thus justifying the claim that the fourth quarter saw a return to growth. Reported net income for the year rose by 88% at constant exchange rates but on an adjusted basis this fell back to 4%, whilst adjusted earnings per share were up by 10%. The final dividend is to be 97.7p per share making a total increase for the year of 7%. For 2018 the target is total like for like revenue growth of 2-3% as RB continues on its journey to becoming a global leader in consumer health care.
Spectris SXS made good strategic progress in broadening its customer offer in 2017 with like for like sales rising by 6% and adjusted operating profit and earnings per share by 8% and 14% respectively. The final dividend is to be increased by 9%.
Fidessa Group FDSA reports a solid performance in transforming markets in the year the 31st December, with adjusted profit before tax rising by 5% on a constant currency basis. The final dividend is to be increased by 5% on top of which there will be a repeat of the previous years special dividend of 50p per share. For 2018 similar levels of constant currency growth are forecast.
Dart Group DTG expects that underlying profit before tax will be materially ahead of current market expectations for the year to the end of March, due to the end of the heavy discounting of the past year, the return of a more normal pricing environment and the continued success of its growing leisure travel business With satisfactory forward bookings, trading for 2019 is expected to be in line with the current year.
BATM Advanced Communications BVC expects that 2017 revenue will be significantly ahead of market expectations at $106m, which represents a year on year rise of 17%. This follows the company’s success in obtaining new customers, new contracts and new territories.
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