BLT - Blis Technologies

[winner69]

Blis super efficient this year ..results out

More ups than downs ..that’s good

http://nzx-prod-s7fsd7f98s.s3-websit...917/347028.pdf

[tango]

Overall I’m happy with the result. I’ve been a shareholder on and off since the beginning. At one stage I thought they were never going to deliver. It’s looking more promising now but I still have questions about their marketing


FLLYR: BLT: FY21 Financial Results 08:30a.m.
BLT
27/05/2021 08:30
FLLYR
PRICE SENSITIVE
REL: 0830 HRS Blis Technologies Limited

FLLYR: BLT: FY21 Financial Results

27 May 2021

FY21 Financial Results

Blis Technologies Limited (NZX:BLT) (Blis, the Company) has today reported
its results for the 12 months to 31 March 2021. Blis has delivered revenue of
$10.6 million and EBITDA of $1.0 million. Revenue is in line with market
guidance provided earlier in the year, while EBITDA is at the lower end of
the guidance range.

Key highlights for FY21 are:
o Revenue of $10.6m
o EBITDA of $1.0m
o Net Profit of $0.6m
o Ingredients revenue up 12%
o Finished product sales through e-commerce up 22%
o Pharmacy retail sales down 38%
o New market developments
o Canada launch
o CBEC Tmall flagship store launch
o New probiotic strain and new product range launch
o Commercial release of BLIS Q24(TM)
o Launch of the Unconditional Skincare Co., a skincare
brand based on live probiotics, the first product
being a hydration serum
o Regulatory approvals
o Health Canada approval of finished product range
o BLIS K12(TM) and BLIS M18(TM) approval in India

"The FY21 financial year has been one of significant challenge to Blis.
Changes in market conditions and consumer behaviours provided us with a new
lens to view strategy delivery. Alongside the need to be extremely flexible
under a fast changing environment, we have made significant investment in
future growth drivers" said Blis Chairman, Tony Offen.

"The development of new markets, the launch of our first skincare offering,
and further investment in our future product pipeline are the foundations for
delivery of growth for the company in the medium term" added Blis CEO, Brian
Watson.

"These are all areas that represent several years of work so it's really
pleasing to see the developments progress to the point where they become
revenue drivers rather than in-house projects. All of these developments
occurred in the 4th quarter of the financial year so have had little effect
on revenue for FY21.There has however been considerable upfront investment
added to our cost base. We estimate the cost without matching revenue to be
around $0.9m" commented Mr Watson.

Regional sales performance
Revenue (NZ$m) FY21 FY20 Change %
Asia Pacific 2.4 3.7 -34
Europe/ Middle East 3.1 4.0 -22
North America 5.1 3.0 +71

Over the past 12 months our existing pharmacy retail sales channels have been
significantly impacted by the covid pandemic driven reduction in foot traffic
through retail stores. As consumers have quickly adapted to buying online,
their changed purchasing patterns have prompted us to
accelerate our digital and e-commerce investment and focus.

Markets such as NZ, Australia and Europe with a strong retail presence have
seen a reduction in sales revenue. In the USA where we are heavily focused on
the e-commerce channel through our customer base and our own finished
products on Amazon, sales have performed particularly well, delivering a 71%
increase in revenue.

Outlook
The delivery of meaningful longer-term growth will require ongoing investment
upfront. In the current year, while a return to revenue growth is expected,
there will be increases in costs as part of the strategic evolution to a D2C,
e-commerce, R&D business. Internal capability-building is expected to result
in neutral earnings growth until the benefits of the new strategy are fully
realised.

It is our expectation that, in the longer term, finished products will
comprise the majority of Blis' sales revenue. Investment in innovation and
science will continue, building on our pioneering research heritage, in order
to realise the full potential of probiotics in improving human health and
wellbeing. The assessment of new and emerging market opportunities will be
actively pursued. Collaboration agreements with aligned industry partners
will be actively sought in order to capitalise on the international reach
these opportunities can deliver.

Ends

[MarineSalvage]

hmmm... anyone else underwhelmed? and with all the fancy new marketing staff (expensive) will we see even worse result next time round???

[porkandpuha]

hmmm... anyone else underwhelmed? and with all the fancy new marketing staff (expensive) will we see even worse result next time round???

Without the fancy marketing, this company will continue on its usual sideways trajectory. Time to go hard or go home I say.

[Leftfield]

hmmm... anyone else underwhelmed? and with all the fancy new marketing staff (expensive) will we see even worse result next time round???

I'm underwhelmed, but encouraged by the moves to more online sales/less retail as well as USA growth. Let's call it a transition year and hope for better!!

[Sideshow Bob]

hmmm... anyone else underwhelmed? and with all the fancy new marketing staff (expensive) will we see even worse result next time round???

I was just going to post that I was underwhelmed.......glad to see I'm not the only one.

Can have all the scientific evidence you like, but if you can't sell or market the stuff, then have to question.

Been at it for over 20 years. $10m in revenue. But at least they made (a little) money.....

[MarineSalvage]

70m market cap, 20 years old, half a mill net profit and most of that will be needed for the various new hires - I'd love to be bullish but hmm

I was just going to post that I was underwhelmed.......glad to see I'm not the only one.

Can have all the scientific evidence you like, but if you can't sell or market the stuff, then have to question.

Been at it for over 20 years. $10m in revenue. But at least they made (a little) money.....

[nevchev]

hmmm... anyone else underwhelmed? and with all the fancy new marketing staff (expensive) will we see even worse result next time round???

All in a period when the world is looking for immune boosting products(like the ones blis have)they come out with a beauty product.Great work people!Got to be the best looking corpse in the morgue.

[winner69]

Blis revenues higher than PEBs .....that’s some effort

...and now higher than my mates MiniMart (not much bigger than a corner dairy

[Sideshow Bob]

Blis revenues higher than PEBs .....that’s some effort

...and now higher than my mates MiniMart (not much bigger than a corner dairy

Comparing against PEB revenue is a pretty low bar. How will be comparison be in 12 months time??

Albeit BLT market cap is more than 12x less than PEB.....

As per Mainland ad.....good things take time. Ay W69.