Nanosonics’ (ASX:NAN) New Trophon Units Sales Bounce Back, Share Price up ~7%

  • November 04, 2020 01:52 PM AEDT
  • Hina Chowdhary
    Hina Chowdhary
    Director, Equities Research Hina Chowdhary
    1706 Posts

    Hina Chowdhary is the Director, Equity Research at Kalkine and has an extensive experience of about 15 years in the area of Research, which includes 5+ years in Equities Research particularly.She has earned a Master of Science degree from the renowne...

Nanosonics’ (ASX:NAN) New Trophon Units Sales Bounce Back, Share Price up ~7%

Summary

  • ASX 200-listed medical technology company Nanosonics Limited witnessed a recovery in its business during the first four months of FY21.
  • During the period, the number of new trophon units installed globally were up by 16% compared to the FY20’s last four months. Unit purchases of consumables increased by 4% compared to pcp.
  • The Company’s sales recovered following the reopening of hospital departments and a rise in ultrasound procedure volumes.

A leader in infection prevention solutions, ASX 200-listed Nanosonics Limited (ASX: NAN) today updated the market with its four-month performance (period ended October 2020). Despite the current market conditions, the Company has recovered well with the number of new trophon units installed, reaching 91% of the numbers achieved in the prior corresponding period (pcp).

Following the significant announcement, the share price of NAN was noted at A$5.500, up by 7.421% at AEST 01:04 PM. The Company has a market capitalisation of almost A$1.54 billion.

Let us discuss look at the Company and its latest update in detail-

About Nanosonics Limited

An infection prevention player, Nanosonics Limited has developed and marketed trophon®, a distinct automated disinfection technology. Trophon is the first significant innovation in high-level disinfection for ultrasound probes in over 20 years.

Nanosonics’ new trophon units’ sale up 16%

On 4 November 2020, Nanosonics updated the market with the new trophon installed base and end-user consumable sales during the four months ended 31 October 2020 in the context of the pandemic-led current market scenario.

Quick Highlights:

  • Unit purchases of consumables (Sonex/NanoNebulant) by end customers were up 4% compared to the pcp. The unit purchases increased by 25% compared to FY20’s last four months.
  • During the period, the number of new trophon units installed worldwide was 91% of the volumes achieved in pcp with EMEA at 119% and North America at 90%.
  • Compared to the last four months of FY20, the number of new trophon units installed globally during the period increased by 16%.

Nanosonics also stated that, as reported on 25 August 2020, the number of new units installed in Q4 FY20 was 46% down on the pcp.

The Company’s recovery during the period was primarily due to the reopening of hospital departments and the increase in ultrasound procedure volumes which inched towards the pre-Q4 FY20 levels.

Despite the ongoing uncertainty, NAN remains optimistic. The Company disclosed that investments in its growth agenda continue throughout the business as it looks to expand its geographical presence and product portfolio further.

Nanosonics highlighted that as an infection prevention company, it remains committed to doing everything to support all customers during these unprecedented times.

Michael Kavanagh CEO and President, Nanosonics commented-

 

 


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