What it does
The networking and cyber division offers telecoms and network solutions, focusing on advanced software and cybersecurity, to tier-1 businesses and governments worldwide.
The bio-medical division focuses on the development and provision of diagnostic lab equipment as well as products to treat biological waste products from the medical, agricultural, and pharmaceutical sectors.
The group is listed on the main board of the London Stock Exchange and is headquartered in Israel with offices in North America, Europe, and the Far East.
How is it doing
In its results for the six months ended June 30, 2020, the networking solutions and medical laboratory provider reported earnings (EBITDA) of US$5.3mln, up 36.2% year-on-year, while revenues surged 37.7% to US$77.4mln.
The stronger performance appeared to be mainly attributed to the firm’s Bio-Medical division, its largest business segment, which saw revenues climb 65% in the year to US$50mln, helped by strong demand for the company’s coronavirus diagnostic tests. Meanwhile, the company’s networking and cyber arm saw revenues increase by 5.3% to US$27.4mln.
BATM added it had entered the second half with a “substantially higher backlog” than at the same time last year, with revenues now expected to increase 32% for the full year alongside a 48% rise in EBITDA, significantly ahead of market expectations.
The group also said its “strong cash position” of US$44.3mln at the end of the first half combined with expected cash generation for the second half gave it the confidence to reinstate its dividend for the full year 2020.
BATM also recently launched three coronavirus testing kits which it said will “significantly advance” the diagnosis of coronavirus and other respiratory illnesses.
In October, BATM received a €4.3mln order for its coronavirus (COVID-19) real-time diagnostic kits and instruments. The group said the customer is an Italian group that provides tests across Europe for businesses such as airports.
What the boss says: Zvi Marom, chief executive
“The substantial interest in these solutions is growing as the pandemic prevails throughout much of the world and we head towards flu season,
“We believe that we will receive further sizeable orders from our existing customers as well as continue to gain new customers for these products
- Growth in testing kits production and sales
- More coronavirus-related orders
- NFVTime momentum builds strongly