- BIO-UV’s ballast water treatment system sales caused 30% increase in revenue.
- After the USCG certification, they are expecting a 15% increase in revenue in 2018.
- Their international expansion plan to set up operations in 65 countries enhanced 50% growth.
- The only UV-based system approved by the IMO already has a €6.4m worth orderbook.
- The target is to reach €40m by 2022.
France-based BIO-UV Group has reported a Q3 2018 revenue of €3.4m, an increase of 30% on the same period last year, says media reports.
The reason behind this growth
Sales of the BIO-SEA ballast water treatment system have contributed to an increase in third quarter revenue for France-based BIO-UV Group. “The expanding ballast water market is the main driver underpinning growth, and one that is expected to continue over coming months,” said Benoît Gillmann, President and CEO, BIO-UV Group.
“We are currently experiencing a ramp-up in order intake following our USCG certification and anticipate BIO-UV Group total revenue growth in 2018 of at least 15%, driven in particular by a sharp acceleration of the ballast water treatment market, which should secure growth of at least 60% over the full year.”
The companies they cater to
To date, BIO-UV Group has supplied its BIO-SEA Ballast Water Treatment System to more than one hundred vessels worldwide, with more orders in progress. Owners operating the UV-based BIO-SEA includes Maersk Lines, MSC Cruises, CMA CGM and Louis Dreyfus Armateurs.
Why is it important?
A strategy to increase its global footprint has also contributed to revenue growth. International expansion, which accounted for 50% of the Group’s revenue in 2017, saw the company establish a network of sales and distribution agents in more than 65 countries, with focus on key geographical areas in the Asia-Pacific region.
Future Prospects
This year, the Group opened a subsidiary in Hong Kong to oversee future sales growth and ramp-up manufacturing in the region: BIO-UV Asia.
- BIO-UV Group’s current orderbook is valued at €6.4m.
- Beyond 2018, the company reiterates its ambitions for 2022 to achieve revenue of around €40m.
- Across all the available technologies, eleven ballast water treatment systems have received IMO and USCG approval.
- BIO-UV Group is one of only three manufacturers of UV-based BWTS to have obtained approvals from both the International Maritime Organisation and the US Coast Guard.
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Source: BIO-UV Group
