BPC Instruments (“BPC” or “the Company”) hereby publishes the interim report for the period January 1—March 31, 2024. The interim report is available as an attached file to this release and on the Company’s website (https://bpcinstruments.com/financial-reports/). Below is a summary of the report.
CEO Jing Liu comments:
“Financially, our performance has been robust, with net sales for the quarter amounting to 15,143 (12,192) kSEK, representing an increase of +24 %. This growth reflects the strong demand for our products and the effectiveness of our sales and marketing strategies. Moreover, despite significant investments in staff and operational enhancements, our EBIT for the quarter reached 4,288 (2,385) kSEK, demonstrating an increase of +80 %. This notable improvement highlights our commitment to prudent investments and operational efficiency, positioning us for sustainable growth and profitability.”
Q1 | 2024-01-01—2024-03-31
Net sales for the quarter amounted to 15,143 (12,192) kSEK, an increase of +24 %.
EBIT for the quarter amounted to 4,288 (2,385) kSEK, an increase of +80 %.
Net profit for the quarter amounted to 3,617 (2,014) kSEK, an increase of +80 %.
Earnings per share for the quarter amounted to 0,35 (0,19) SEK
Total cash and equivalents amounted to 24,825 (16,679) kSEK
“BPC Instruments” refers to BPC Instruments AB with organization number 556687-2460. The number of shares
in BPC Instruments as of March 31, 2024: 10 454 000 shares (10 454 000).
Significant events Q1 2024
On January 25, BPC received a purchase order from the prestigious Swedish University of Agricultural Science (SLU). The order encompassed the delivery of three Gas Endeavour® core units, with a total order value exceeding 729,000 SEK.
On January 30, BPC revealed the results of its annual customer survey, demonstrating another year of exceptional levels of customer satisfaction. The survey, conducted in December 2023 with nearly 900 global customers, revealed that 95 percent of respondents rate BPC’s customer support as ‘very satisfied’ or ‘satisfied’.
On February 20, BPC announced a purchase order from a prestigious, multi-mission laboratory that provides crucial science and technology to support various federal, state, and local government agencies, companies, and organizations in addressing the most challenging security issues within the US. The order consisted of the delivery of two Gas Endeavour® systems, with a total order value equivalent to 673,000 SEK.
On March 7, BPC secured a purchase order for BPC® Blue from a prominent global petrochemical company headquartered in Saudi Arabia. Operating in over 50 countries with a strong presence in key international markets such as the Middle East, Asia, Europe, and the Americas, this client selected BPC® Blue for conducting in-house biodegradability evaluations for its polymer materials. The order consisted of the delivery of one BPC® Blue Premium Package, with a total order value equivalent to 476,000 SEK.
Highlights after the end of the period
On April 9, BPC announced the global launch of its latest innovation, BPC® Air – an advanced air incubator offering both cooling and heating capabilities. BPC® Air enriches the Company’s product line-up with state-of-the-art laboratory instruments tailored to diverse incubation temperature requirements for biogas production, biodegradability assessment, feed/food ingredients, and more. Paired with other respirometer systems provided by BPC, the Company now offers a comprehensive analytical solution across multiple niche business sectors.
On April 16, BPC announced the successful completion of the equity transfer of its Chinese Joint Venture, formerly known as BPC Instruments (Haining) Co Ltd. With this transaction, BPC holds sole ownership of the venture, rebranded as BPC Instruments (Zhejiang) Co Ltd. The transition to complete ownership signifies the Chinese Joint Venture’s improved revenue growth and market expansion within China over the last four years, positioning BPC for broader opportunities in both Chinese and international markets. Financial consolidation of the joint venture and BPC is anticipated to commence in the second quarter of 2024.
No other significant events have occurred since the end of the period that has materially affected this report.
