| Telenier system
The technology company Batam, which focuses on the development, production and marketing of advanced communication and cyber systems and medical equipment for laboratory tests, reports on Monday the year 2021. Batam shares, which are traded on the Tel Aviv and London stock exchanges, have lost about 50% of their value in the last 12 months.
Along with the financial results, Batam reports a repurchase of its shares. As the Group reported on February 23, it seeks the approval of the shareholders, at the next shareholders’ meeting, to repurchase up to 44,053,412 ordinary shares in the amount of NIS 0.01 from the Group’s capital, which constitutes 10% of the Group’s issued share capital at the time of this announcement. The Board of Directors is also examining the possibility of distributing a dividend to shareholders.
Batam, which is traded at a current market value of about NIS 1 billion (£ 230.4 million), concludes 2021 with revenues of $ 132.8 million from continuing operations (adjusted figure) – an increase of 18% compared to 2020. However, in the company’s total revenues There was a decrease of 23.7%, to $ 140 million last year.Batm’s operating profit from continuing operations increased by 340% to $ 11.3 million, while the company’s total operating profit increased by 71% to $ 24.4 million.
The following is additional data from the company’s announcement:
In Batam’s biomedical division, which accounts for 84% of total revenue from the company’s continuing operations, revenue from continuing operations (excluding the contribution of an exceptional respirator transaction in 2020) increased in 1721 by 17.7%, to $ 112 million, compared to $ 112 million. $ 95.2 million by 2020, reflecting growth in all units.
The company’s diagnostics unit concludes the year with a 38% increase in revenue, amid significant sales growth due to strong global demand for corona test kits (reagents) and diagnostic systems as well as an increase in product sales for other diseases.
Batam’s eco-activity activity recorded a 37% increase in annual revenues (excluding the contribution of the respirators transaction). The company reports a return to growth from ongoing activities as work continues to install the group’s solution for the treatment of pathogenic waste based on the group’s unique ISS technology. Batam also notes that in the past year there has been progress in projects with Ceva Animal Health and an agricultural food corporation in Taiwan, as well as winning a contract for the solution of agricultural waste treatment at a meat processing plant in Botswana – the group’s first agreement to solve its agricultural waste in Africa.
Batam’s distribution activity recorded an annual 9% increase in revenue. The increase in revenue is due to the distribution of a number of molecular tests as well as reagents and equipment for diagnosing corona.
In the Networks and Cyber Division (16% of total revenue from continuing operations) Revenue from continuing operations (excluding NGSoft’s contribution in the two years) increased by 19.5% to $ 20.7 million (compared to $ 17.3 million in 2020), reflecting growth from continuing operations in network operations And in cyber activity.
In its network operations, Batam reports a 13% increase in revenue (without a contribution from NGSoft) launching Edgility, an environment of products and services for edge computing, based on the group’s NFV technology.
In the field of Carrier Ethernet, the company reports that a return to normal business activity led to an increase in revenue during the year and a significant increase in the order backlog, for delivery in 2022. This, in addition to obtaining a contract with Tier-1 communications operator in Asia Pacific, contributed significantly to activity growth.
Batam’s cyber activity recorded a 111% increase in revenue, amid winning more than $ 18 million in cyber security contracts from a veteran government-security customer of the group. Delivery of orders began during 2021 and will continue in 2022 and 2023. The contracts include a $ 10 million multi-year contract to provide an advanced network security solution that includes elements of NFV protection.
According to Dr. Zvi Marom, CEO of Batam (pictured above):
“We are pleased to announce again excellent results with growth from continuous operations in all our business units. We are particularly proud of the significant progress in diagnostics, where our investment in recent years is bearing fruit, and the significant contracts we have received during the year in our cyber business. We are also pleased to launch Edgility And virtual networks, which we believe will be a major growth engine of the group in the future.
Looking ahead, we have entered the new year with continued momentum in all our activities and we are on track for significant growth in 2022, in line with market expectations. We have established strong foundations in core technologies that can become market-disruptors. We will continue to promote growth and development in our activities alongside seeking opportunities to accelerate the realization of intellectual property value in our various units, through strategic transactions. We have an exciting future ahead of us and we look forward to updating on our progress and creating value for our shareholders. “
The article was first published on the Telniri website.