AGM Statement and Notice of Interim Results

Tristel PLC

16 December 2024

 

TRISTEL plc

("Tristel" or the "Company")

AGM Statement and Notice of Interim Results

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, announces it will hold its Annual General Meeting at 11am today at the offices Company's headquarters, Unit 1b Lynx Business Park, Fordham Road Snailwell, Newmarket, Cambridgeshire, CB8 7NY.

Matt Sassone, Chief Executive Officer, will address the meeting with the following update:

"I am pleased to announce that the Company has had another record first half and expects to hit, if not exceed, it's three-year target of 10% - 15% revenue growth by 30 June 2025.  The business continues to grow, and we continue to trade in line with expectations. 

"In the USA, we have continued winning accounts and onboarding new customers, although Tristel ULT's year-to-date sales growth has been below expectations.  This is primarily due to the stringent purchasing bureaucracy of signing up new healthcare accounts, alongside the time taken to train sales reps with the Company's longstanding partner Parker Laboratories. We are pleased that customer feedback is encouraging, and the sales pipeline remains robust as Parker continues to optimise the Company's go-to-market strategy. We remain confident of the opportunities available to Tristel in the US as we continue to gain traction in the largest healthcare market in the world.

"We are pleased to report that our Tristel ULT technology has recently been included in the revised American National Standard, a set of guidelines which state the selection and use of liquid high-level disinfectants (HLDs) and gaseous chemical sterilizers that have been cleared for marketing by the FDA for use in hospitals and other healthcare facilities. Tristel has participated in the public consultation for the guidelines and the update ensures that chlorine dioxide foam is recognised as a method of HLD.

"In September 2024, we filed for Premarket Notification 510(k) with the U.S. Food and Drug Administration (FDA) for Tristel OPH, our high-level disinfectant foam for use on ophthalmic medical devices and had targeted the end of the calendar year for clearance. We have subsequently received a request for additional information from the FDA and having met with the agency are confident that we can provide this information within the required 180-day time frame. The ophthalmic opportunity within the US remains strong and we are making good progress on establishing our commercial route to market.

"We are pleased to see that our long-established market in Germany is surpassing expectations, where updated KRINKO guidelines (Commission for Hospital Hygiene and Infection Prevention) now more strongly endorse wiping as a method for high-level disinfection (HLD), further validating our technology and driving increased adoption.

"We are excited about the next phase of Tristel's growth and look forward to updating shareholders at the time of our Interim Results on 24 February 2025."

For further information please contact:

Tristel plc		Via Walbrook PR
Matt Sassone, Chief Executive Officer		www.investors.tristel.com
Liz Dixon, Chief Financial Officer
Walbrook PR Ltd		Tel: [phone] or [e-mail]
Paul McManus / Lianne Applegarth / Alice Woodings	Mob: [phone]
Cavendish Capital Markets Ltd		Tel: [phone]
Geoff Nash / Camilla Hume / Trisyia Jamaludin (Corporate Finance)
Sunila de Silva (ECM) / Louise Talbot (Sales)

About Tristel plc

Tristel plc is a global infection prevention company focussed on the manufacture and supply of products using its unique proprietary chlorine dioxide (ClO₂) chemistry. The Company is a market leader in manual decontamination of medical devices, supplying hospitals under the Tristel brand, and under the Cache brand provides products for sporicidal surface disinfection, a more sustainable alternative to commonly used pre-wetted plastic wipes.

Tristel's head office and manufacturing facility is located in Snailwell, near Cambridge, and operates globally employing approximately 270 people across 16 subsidiaries selling into 40+ countries. The Company targets annual revenue growth of between 10% and 15% and an EBITDA margin of at least 25% and the business is profitable, with no debt and has a progressive dividend policy.

The Company has been listed on the London Stock Exchange's AIM market since 2005 (AIM: TSTL).

For more information about Tristel's product range please visit: https://tristel.com

 

END