REG - Tristel PLC - AGM Statement and Notice of Interim Results

TristelAnnouncement

16/12/2024 07:00

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RNS Number : 1272Q  Tristel PLC  16 December 2024

TRISTEL plc

("Tristel" or the "Company")

 

AGM Statement and Notice of Interim Results

 

Tristel plc (AIM: TSTL), the manufacturer of infection prevention products,
announces it will hold its Annual General Meeting at 11am today at the offices
Company's headquarters, Unit 1b Lynx Business Park, Fordham Road Snailwell,
Newmarket, Cambridgeshire, CB8 7NY.

 

Matt Sassone, Chief Executive Officer, will address the meeting with the
following update:

 

"I am pleased to announce that the Company has had another record first half
and expects to hit, if not exceed, it's three-year target of 10% - 15% revenue
growth by 30 June 2025.  The business continues to grow, and we continue to
trade in line with expectations.

 

"In the USA, we have continued winning accounts and onboarding new customers,
although Tristel ULT's year-to-date sales growth has been below
expectations.  This is primarily due to the stringent purchasing bureaucracy
of signing up new healthcare accounts, alongside the time taken to train sales
reps with the Company's longstanding partner Parker Laboratories. We are
pleased that customer feedback is encouraging, and the sales pipeline remains
robust as Parker continues to optimise the Company's go-to-market strategy. We
remain confident of the opportunities available to Tristel in the US as we
continue to gain traction in the largest healthcare market in the world.

 

"We are pleased to report that our Tristel ULT technology has recently been
included in the revised American National Standard, a set of guidelines which
state the selection and use of liquid high-level disinfectants (HLDs) and
gaseous chemical sterilizers that have been cleared for marketing by the FDA
for use in hospitals and other healthcare facilities. Tristel has participated
in the public consultation for the guidelines and the update ensures that
chlorine dioxide foam is recognised as a method of HLD.

 

"In September 2024, we filed for Premarket Notification 510(k) with the U.S.
Food and Drug Administration (FDA) for Tristel OPH, our high-level
disinfectant foam for use on ophthalmic medical devices and had targeted the
end of the calendar year for clearance. We have subsequently received a
request for additional information from the FDA and having met with the agency
are confident that we can provide this information within the required 180-day
time frame. The ophthalmic opportunity within the US remains strong and we are
making good progress on establishing our commercial route to market.

 

"We are pleased to see that our long-established market in Germany is
surpassing expectations, where updated KRINKO guidelines (Commission for
Hospital Hygiene and Infection Prevention) now more strongly endorse wiping as
a method for high-level disinfection (HLD), further validating our technology
and driving increased adoption.

 

"We are excited about the next phase of Tristel's growth and look forward to
updating shareholders at the time of our Interim Results on 24 February 2025."

 

For further information please contact:

 

 Tristel plc                                                                  Via Walbrook PR
 Matt Sassone, Chief Executive Officer                                        www.investors.tristel.com (http://www.investors.tristel.com/)
 Liz Dixon, Chief Financial Officer

 Walbrook PR Ltd                                                              Tel: 020 7933 8780 or tristel@walbrookpr.com
 Paul McManus / Lianne Applegarth / Alice Woodings    Mob: 07980 541 893/ 07584 391 303/ 07407 804 654

 Cavendish Capital Markets Ltd                                                Tel: 020 7220 0500
 Geoff Nash / Camilla Hume / Trisyia Jamaludin (Corporate Finance)
 Sunila de Silva (ECM) / Louise Talbot (Sales)

 

About Tristel plc

Tristel plc is a global infection prevention company focussed on the
manufacture and supply of products using its unique proprietary chlorine
dioxide (ClO(2)) chemistry. The Company is a market leader in manual
decontamination of medical devices, supplying hospitals under the Tristel
(https://tristel.com/) brand, and under the Cache
(https://thecachecollection.com/) brand provides products for sporicidal
surface disinfection, a more sustainable alternative to commonly used
pre-wetted plastic wipes.

 

Tristel's head office and manufacturing facility is located in Snailwell, near
Cambridge, and operates globally employing approximately 270 people across 16
subsidiaries selling into 40+ countries. The Company targets annual revenue
growth of between 10% and 15% and an EBITDA margin of at least 25% and the
business is profitable, with no debt and has a progressive dividend policy.

 

The Company has been listed on the London Stock Exchange's AIM market since
2005 (AIM: TSTL).

 

For more information about Tristel's product range please visit:
https://tristel.com (https://tristel.com)

 

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