INTERIM REPORT 09/2014
During the first half of the year, HyTest’s consolidated sales were 7.8 million euros and year-on-year sales grew by 24%. Group operating profit also saw significant growth, reaching 3.4 million euros (43,6%). HyTest’s profitability has remained excellent despite significant capital investments and the challenging business environment.
High profitability made it possible to finance broad investments with cash flow from operations. HyTest was able to invest in the hiring of new personnel in its daughter company in China. In addition, significant investments were also made in the development of a new e-commerce tool that will improve services for industry customers, which form the main customer segment for HyTest.
Export sales remained high at 95% of total revenue, with the USA being the most important market with 44% of total revenue. Sales to the USA grew by more than 10%. Sales in China grew by 39% and China is already the second biggest market for HyTest, contributing more than 19% of total revenue. During the second year of operations HyTest-China has been able to significantly grow their customer base and remain profitable.
The big EU countries like Germany (7% of total revenue) and the UK (4% of total revenue) were important markets for HyTest. However, sales development in the EU was affected by the prolonged negative outlook of the European economy. Japan (6% of total revenue) and South Korea (3% of total revenue) were the important markets in Asia.
Cardiac disease diagnostics products, which are based on HyTest’s own innovations, continued to be the most important products during H1. Other strategically important product areas were infectious disease detection and diabetes diagnostics products. HyTest also brought new companion animal diagnostics products to the market.
HyTest is one of the world's leading providers of monoclonal antibodies and antigens for the in vitro diagnostics (IVD) industry and today HyTest sells products to over 40 countries. HyTest has become a renowned supplier of materials that are used for cardiovascular disease diagnostics, infectious disease detection and diabetes diagnostics. These product groups form the cornerstone of HyTest’s sales. HyTest continues to invest in research and development in order to strengthen its well-established sales and marketing mix.
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