Allium Medical Solutions - Making progress across the board
Allium has reported H118 financial results. Revenues increased 31% y-o-y to NIS4.9m. As before, we continue to expect additional product approvals during 2018 and sales growth from its distribution deals in new and established markets. We maintain our FY18 sales forecast of NIS14m with a projected 2017-2020e revenue CAGR of 57%. We continue to believe that regional expansion is crucial to the company’s investment case. Our valuation, updated for net cash of NIS16.6m, is NIS1.82 per share.
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