Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. France
  4. Euronext Paris
  5. Novacyt
  6. News
  7. Summary
    ALNOV   FR0010397232


Real-time Quote. Real-time Euronext Paris - 06/11 11:35:27 am
3.988 EUR   +2.55%
06/03NOVACYT  : Launches Two New COVID-19 Tests
06/03NOVACYT  : Launch of two new PCR COVID-19 assays
05/31NOVACYT  : Monthly statement on outstanding equity shares and voting rights
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Novacyt S.A. ("Novacyt", the "Company" or the “Group”): Half-Year Trading Update

07/13/2020 | 02:01am EDT

Sales growth of more than 900%, debt-free and significantly cashflow positive

Demand for COVID-19 test expected to continue into 2021

Regulatory News:

Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT), an international specialist in clinical diagnostics, announces an unaudited trading update for the six months ended 30 June 2020.

Trading update

Unaudited revenue for the first half of 2020 increased over 900% to €72.4 million (£63.3 million), compared to revenue of €7.2 million (£6.3 million) for the first half of 2019, with 91% of revenue accounted for in the second quarter. For the half year, the Group estimates EBITDA profitability over €45 million (£41 million). This follows the successful launch of one of the world’s first molecular tests for COVID-19, which the Company rapidly developed and launched in January 2020.

The Company’s cash position as at 30 June 2020 was €20 million (£18 million) (cash as at 31 December 2019 of €1.8 million (£1.6 million)). This strong cash position is after significant investment to meet continued demand for the COVID-19 test expected in the second half of the year. It is also reported after paying down all outstanding debt, making Novacyt debt free for the first time in the Company’s history.

Demand for the Company’s COVID-19 test remains strong, with June sales of €25.4 million (£22.5 million) showing the sixth consecutive month of growth. Certain contracts for the supply of the test have also been extended into the second half of the year and in some cases into 2021. With the daily global incidence of SARS-CoV-2 infections continuing to rise, Novacyt expects significant ongoing demand for COVID-19 testing well into 2021. It is a sad fact that as of 11 July 2020, the number of global cases is more than 12.7 million, an increase of 69% compared to 11 June 2020.

In the US, the Company has signed a major distribution agreement for its COVID-19 test with a new global strategic partner. The US is delivering significant sales growth for Novacyt and this new agreement enables the Company to accelerate penetration of its COVID-19 test in this important market. This distribution agreement will focus initially on the US, with the potential to expand into further markets.

The Company remains well positioned to address the global need for COVID-19 testing, with its test being sold worldwide. It also has sufficient manufacturing capacity, raw materials and finished goods to meet the expected demand, having orchestrated a significant scale-up of operations during the half year. The Company continues to scale the business internally and has hired 45 people during the first half of the year, with plans to make further investment to strengthen the organisation in the second half of the year.

Development of the Company’s COVID-19 test established Novacyt as a pioneer and a leader in COVID-19 diagnostics. Novacyt remains committed to building on this world-class innovative position for COVID-19 testing, and more broadly for respiratory disease testing, and is investing to address unmet needs in the market. Novacyt has already launched three new innovative products, COVID-HT, Exsig™ Direct and Exsig™ Mag, to support laboratories testing for COVID-19. These products are expected to drive incremental revenue and the Company received initial orders in June 2020 following their launch. Novacyt expects to provide an update on its investment in R&D to support continued growth, including a number of new products and innovations to be launched in the near future.


Given the visibility of orders, extended contracts and the launch of new COVID-19 related products, the Company anticipates revenue for the second half of the year to be greater than the first half of the year and margins to be at least at a similar level. As a result, there is expected to be greater cash generation in the second half of the year and the Company is reviewing its capital allocation policy to enhance and accelerate long-term value creation through its three-pillar strategy of organic, R&D and acquisitive growth.

Graham Mullis, Group CEO of Novacyt, commented:

“The first half of 2020 has been transformational for Novacyt. The Company has rapidly established itself as one of the market leaders in COVID-19 PCR testing, with a significantly increased customer base, a recognised reputation for the performance of its products and established multiple significant strategic partnerships. This solid foundation, combined with a strong financial performance, will enable us to greatly enhance and accelerate our strategy for delivering long-term value to shareholders. I look forward to providing an update on these plans as we move into this exciting next phase of growth for the Company.”

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

About Novacyt Group

The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high-quality assays and reagents worldwide. The Group directly serves microbiology, haematology and serology markets as do its global partners, which include major corporates.

For more information please refer to the website: www.novacyt.com

© Business Wire 2020
All news about NOVACYT
06/03NOVACYT  : Launches Two New COVID-19 Tests
06/03NOVACYT  : Launch of two new PCR COVID-19 assays
05/31NOVACYT  : Monthly statement on outstanding equity shares and voting rights
05/26GLOBAL MARKETS LIVE : Amazon, Volkswagen, AstraZeneca, Aston Martin, Sony...
05/26NOVACYT  : Launch of VersaLab™ Portable
05/26NOVACYT S.A. ("NOVACYT", THE "COMPAN : Launch of VersaLab™ Portable
05/21NOVACYT  : Government and Covid test supplier Novacyt row over £150m PCR contrac..
05/21NOVACYT  : DHSC Dispute Update
05/21NOVACYT S.A. ("NOVACYT", THE "COMPAN : DHSC Dispute Update
05/17LONDON STOCK EXCHANGE : Banks, industrial stocks drag FTSE 100 down; Diploma jum..
More news
Sales 2020 312 M 377 M 377 M
Net income 2020 185 M 224 M 224 M
Net cash 2020 102 M 123 M 123 M
P/E ratio 2020 1,52x
Yield 2020 -
Capitalization 282 M 341 M 341 M
EV / Sales 2020 0,58x
EV / Sales 2021 0,38x
Nbr of Employees 110
Free-Float 99,2%
Duration : Period :
Novacyt Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NOVACYT
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 2
Average target price 4,90 €
Last Close Price 3,99 €
Spread / Highest target 42,9%
Spread / Average Target 22,9%
Spread / Lowest Target 2,81%
EPS Revisions
Managers and Directors
Graham David Mullis Chief Executive Officer & Executive Director
James Martin Mccarthy Chief Financial Officer & Director
James Christopher Wakefield Chairman
R. A. Trevor Chief Technology Officer
Lisa Henriet Director-Group Operations
Sector and Competitors
1st jan.Capitalization (M$)
MODERNA, INC.109.49%87 874
WUXI APPTEC CO., LTD.30.07%66 799
BIONTECH SE192.63%57 615
LONZA GROUP AG16.32%54 656