HyTest: Strong Growth in Sales During the First Half of 2015
Raw material supplier HyTest has had a strong growth during the Q1/2015. There has been a good increase both in consolidated revenue and net operating profit.
HyTest was able to continue its strong growth during the first half of 2015. Consolidated revenue grew to 9.2 million euros, which represented an increase of 18% compared to the first half of the previous year. Net operating profit also grew significantly to 4 million euros. Furthermore, the net operating profit margin reached a record high of 43.5%. HyTest’s profitability has remained on an excellent level despite the extensive R&D investments and the demanding industry environment.
Good profitability has made it possible for HyTest to make further investments in both direct customer contacts and an e-commerce platform.
Throughout the entire history of HyTest, export sales have made a major contribution to overall sales and the first six months of 2015 were no exception with the share of export sales amounting to 95% of total sales. Sales to the US made up 38% of total sales and China maintained its position as the second largest market with a 17% share. Other important export markets were Germany and the UK with 10% and 7% respectively of total sales. Meanwhile, in Asia, Japan and South Korea were the second and third largest markets with 7% and 4% respectively of total sales.
HyTest has continued to make significant investments in R&D and during the first half of the year it was able to launch a number of products intended for companion animal diagnostics. Veterinary diagnostics is a new product segment for HyTest and the initial feedback from the market has indicated that there is a growing interest in veterinary diagnostics and the new products have made a very positive impression.
HyTest’s patent portfolio strengthened during the first half of 2015 following it being granted a patent in the US for SES-BNP technology and for IGFBP-4 fragments in Finland, France, Germany, Sweden and the UK. HyTest also continued to support studies relating to IGFBP-4 conducted by partnering laboratories and these have provided important insights into the use of IGFBP-4 fragments as a cardiovascular disease risk marker (Hjoerterberg, 2015).
Investments aimed at in vitro production continued as new products were made available as in vitro produced. Further investments in this area will also be made during the latter part of the year.
HyTest is one of the most important raw material suppliers for the IVD industry. During its history, HyTest has become the leading supplier of reagents for a number of cardiovascular diseases diagnostics areas and it is renowned for its scientifically designed and developed products that help customers to bring top class products to the market. HyTest currently serves 400 customers around the world and more than 150 customers in China, with a focus on delivering high quality products and a personalized service.