Pre-Covid ANOs revenue guidance was $30 million.
I thought the guidance was too low and they wanted to beat expectations or be on the conservative site.
$40 million in revenue and >50% ebit margins were achievable.
we all know what happened with covid.
ANO is gaining marked share no matter what happens. they take share from chemical competitors as well as from zinc suppliers because of price/quality. in this way they are able to more than offset overall negative growth of the sunscreen market.
therefore, I assume revenue will be >50million and EBIT >25 million in 2021.
covid is also making people aware that sunscreen should not be only applied on the beach when on holiday.
Ann: FY20 Overview, page-54
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