Byotrol Plc

("Byotrol" or the "Group")

Trading Update and Board Changes

Byotrol Plc (AIM: BYOT), the specialist infection prevention and control company, provides an update on trading for the year ended 31 March 2023. 

Subject to audit, it is expected that the results will be in line with market expectations.  Key highlights are:

·      Sales of £4.6m, comprising £4.3m from product sales and £0.3m from IP sales and royalties;

·     Significant improvement in gross margin on product sales - 41% compared to 37% (FY22), reflecting sku rationalisation and multiple improvements in operating processes;

·      Adjusted EBITDA of -£0.8m; and

·      Cash at year end of £0.7m with a key debtor paid just after year end, taking underlying cash to over £0.8m

The IP side of Byotrol continues to progress encouragingly, particularly in the US.  We are hopeful of formal approval this summer from the EPA for Byotrol24 with enhanced long-lasting efficacy claims against viruses, and we are then expecting our previously-announced sub-licensee to commence a market launch in the US under its own branding shortly afterwards.  All other IP initiatives including our participation in Solvay's Actizone, remain on plan.  

We remain confident in delivering significant growth in the current financial year and returning to profitability.   

As is normal, the exact timing of our Final Results will depend on the audit process.  We are currently assuming the audit to be completed in August.

Dr Trevor Francis, incoming Non-Executive Chairman of Byotrol commented:

"I am looking forward to overseeing the continued development of Byotrol and supporting the executive team of Vivan Pinto, CEO, Chris Sedwell, CFO, and David Traynor, ED.

Since the acquisition of Medimark Scientific, a lot of good progress has been made within the Company, especially in operating processes and I am convinced we now have the right structure and team to drive the business forward and create value for all stakeholders."

For further information contact:

This announcement is released by Byotrol Plc and, prior to publication, the information contained herein was deemed to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014. Such information is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Byotrol Plc was Chris Sedwell, CFO.

* Adjusted EBITDA is defined as Earnings before Interest, Tax, Depreciation and Amortisation and exceptional items, share-based payments, non-trading items such as profit or loss on disposal of assets, plus revenue recognised as interest under IFRS 15

Notes to editors

Byotrol plc (BYOT.L), quoted on AIM, is a specialist infection prevention and control company, operating globally in the Healthcare, Industrial, Food and Consumer sectors, providing low toxicity products with a broad-based and targeted efficacy across all microbial classes; bacteria, viruses (including coronavirus), fungi, moulds, mycobacteria and algae.

Byotrol's products can be used stand-alone or as ingredients within existing products, where they can significantly improve their performance, especially in personal hygiene, domestic and industrial disinfection, odour control, food production and food management.

Byotrol develops and commercialises technologies that create easier, safer and cleaner lives for everyone.

For more information, go to byotrol.com