Growth Continues - High Growth of Sales in China
During the last fiscal year HyTest’s consolidated revenue was 24.1 million euros, which equated to a year-on-year growth of 1.3%. This rate was low due to the exceptionally strong growth experienced in 2016.
Operating profit and profitability for 2017 remained at high levels – 11.4 million euros and 47.3% respectively.
The main sales driversin 2017 were self-developed products; in particular products relating to cardiovascular diseases and inflammation diagnostics segments.
During the 2017 fiscal year significant development steps were taken in terms of recombinant antibody and antigen development and production technologies. HyTest considers these technologies to represent the new era in immunodiagnostics.
The share of the export sales was high – in total representing a 96% share of the revenues. Especially significant is that 2017 was the first ever fiscal year when revenues derived from China exceeded those coming from the US market. This development was driven by the very high growth of sales in China. The share of sales to China was 35%, as compared to the sales to the US which stood at 34%. The positive developments seen in China have been fueled by HyTest’s continuing commitment to invest in its operations in the country.
Other important export markets were the UK, with a 9% share, while in Asia, growth was realized in Japan and Korea, where the share of sales was 5.1% and 4.6% respectively.
HyTest manufactures antibodies and antigens for the IVD industry for use as key components of various different laboratory assays and kits. The company has gained a market leader position in a numberof key market segments such as cardiac markers and influenza testing reagents. HyTest’s main customer segments are the IVD industry andlarge international research groups.
Sales and Marketing Director