Bactiguard presents focused growth strategy and sets new long-term financial targets
STOCKHOLM, Feb. 8, 2022 /PRNewswire/ -- Bactiguard presents new long-term financial targets in connection with the year-end report for 2021. The new financial targets relate to growth and profitability, with annual revenues of at least 1 billion SEK and annual EBITDA of at least 400 million SEK in 2026.
"With Bactiguard's unique technology for infection prevention, scalable business model, broader product portfolio and focused market coverage, our target is to reach annual sales of at least 1 billion SEK, with an EBITDA of at least 400 MSEK in 2026. We will focus on six therapeutic areas and prioritized countries and grow sales through new license agreements, an extended BIP portfolio and small strategic add-on acquisitions.
We will achieve this by a substantial build-up of our capabilities within our license business, combined with investments in the BIP portfolio. We will invest in manufacturing, product development and a further enhanced go-to market organisation. The transformation of Bactiguard will impact the profitability in the coming one to two years, while we expect rapidly accelerating profitability in 2024 through 2026," says Anders Göransson CEO.
New long-term financial targets:
Sales growth
Annual revenues of at least 1 billion SEK in 2026
Profitability
Annual EBITDA of at least 400 million SEK in 2026
Bactiguard's long-term financial targets should not be perceived as a forecast, but rather as an ambition which the board and management consider to be reasonable long-term expectations on the company.
Bactiguard's growth strategy for the coming five-year period up to 2026 is based on a continued roll-out of the Bactiguard technology, both through new license agreements and a broader product portfolio. Going forward, the focus will be on six therapeutic areas, where infection prevention is of major importance, and geographies with high potential. The therapeutic areas in focus are Orthopaedics, Critical Care, Urology, Nephrology, Dental and Wound management.
"We are confident in the strength of the Bactiguard technology in keeping people safe from infections, both for short-term and long-term applications and use. We have several interesting licensing projects ongoing and see new, exciting business opportunities. The ambition of establishing one or two new license agreements per year and expanding the use of our own portfolio for infection prevention remains unchanged," Anders Göransson concludes.
Bactiguard's product portfolio for infection prevention (BIP portfolio) will continue to be broadened through the development of new products and areas of use. In 2020, the product portfolio was expanded with wound care solutions, through the acquisition of Vigilenz.
Following the strengthening of the capital base through a directed issue of shares in 2021, Bactiguard can now accelerate investments in further growth and strengthen its position in select high potential markets across the globe to realise the growth potential.
Previous financial targets
Bactiguard's previous financial targets were presented 5 November 2020 and covered the period up to 2025. The targets were an average revenue growth of 20% per year over the five-year period with an EBITDA margin of at least 30 percent at the end of the five-year period 2025. The long-term dividend goal was to achieve a dividend of 30–50% of profit after tax, taking into consideration the company's financial position. It was also stated that "The company is in an expansion phase and will therefore in the coming years prioritize growth over dividends".
This information is information that Bactiguard Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below 2022-02-08, at 22.55.
Audiocast
Bactiguard Holding AB (publ) publishes the year-end report on Tuesday, February 8, 2022, at 23.00.
An audiocast will be held on Wednesday February 9 at 15:00 CET, where CEO Anders Göransson and CFO Gabriella Björknert Caracciolo will present and comment on the year-end report and updated financial targets. Read more at www.bactiguard.com/Q4-2021
For further information, please contact:
Gabriella Björknert Caracciolo, CFO and deputy CEO, phone: +46 72 141 62 49
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