Trading update

Tristel PLC

25 July 2023

 

TRISTEL plc

("Tristel" or the "Company")

Trading update

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products, provides a trading update for the year ended 30 June 2023, ahead of its Open Day for shareholders being held today.

Demand for Tristel's infection prevention products for medical device decontamination and for the sporicidal disinfection of surfaces continues to be very robust across all key geographical markets.

As a result, revenues for the year were up 16% to £36.0m (FY 2022: £31.1m), ahead of consensus forecasts and above the Company's long-term target for revenue growth. Adjusted profit before tax (adjusted for share-based payments) will be slightly ahead of consensus forecasts of £6m. Tristel continues to be debt free and cash generative. Cash balances on 30 June 2023 were £9.5m (30 June 2022: £8.9m).

During the year a total of 17m disinfection events took place using Tristel's chemistry, up 8.2% on the previous year (FY 2022: 15.7m disinfection events). This is also 42% higher than in the year before COVID temporarily disrupted Tristel's normal operational performance (FY 2019: 12m disinfection events).

Paul Swinney, CEO of Tristel plc, comments: "I am delighted to confirm to shareholders that the business continues to deliver a strong trading performance and growth ahead of both analyst expectations and our own growth targets.

"In early June we achieved a major milestone by obtaining approval from the US Food and Drug Administration for our Tristel ULT disinfectant for ultrasound instruments. We are now manufacturing and marketing our products in the USA and Canada and starting to expand in Latin America. We look forward to updating shareholders on our commercial progress in these markets as we continue through the financial year.

"Looking forward to the years ahead, I am confident that Tristel will truly become a leading global player in the infection prevention industry. We now have access to the world's largest ultrasound market for our high-level medical device decontamination products and we have an exciting pipeline of new product innovations supported by a strong balance sheet. We are very excited about the prospects for further growth and the outlook is positive."

A recording of the presentation that will be delivered to shareholders today will be made available on the Company's website, shortly after the event here: https://tristelgroup.com/invest/webinars-presentations/.

The information communicated in this announcement is inside information

for the purposes of Article 7 of Regulation 596/2014.

For further information please contact:     

Tristel plc	Tel: [phone]
Paul Swinney, Chief Executive Officer
Liz Dixon, Chief Financial Officer
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Applegarth	Mob: [phone]
finnCap	Tel: [phone]
Geoff Nash/ Charlie Beeson (Corporate Finance)
Alice Lane (ECM)

 

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