BIP product sales showed solid growth in Q2
Bactiguard’s Q2 results were strong with revenues up by 46% y/y, and EBITDA of SEK 10.5m (margin of 21.8%; up 500bp y/y). Whilst licence revenues from BD showed a shortfall (negatively affected by COVID-19), sales of Bactiguard’s own BIP portfolio was strong, which is encouraging, in our view. We expect continued strong growth of Bactiguard’s BIP product portfolio, with sales contribution from Well Lead after two consecutive quarters without any orders.
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