Optec International Inc (OTCMKTS: OPTI)‘s wholly-owned subsidiary, WeShield, has registered its YTD revenues at $40 million, while its EBIDTA is posted at $6.7 million, which is 17% of the overall revenue. The second-quarter revenues for WeShield came in at $19.2 million, while the EBIDTA is posted at $3.5 million, which rounds off to 19% of the revenue.
Growth in the medical supply sector and PPE
the windshield had the 2020 audited financial report. The company generated $59 million and EBIDTA of $5.6 million, roughly about 10% of the revenue. The subsidiary is reporting growth in the sectors which are in hot demand today. The medical supply and PPE sectors have boomed since the onset of the pandemic. The company has signed some additional long-term agreements and contracts, which are expected to impact the new DELTA variant significantly. The impact will be realized later in the year.
There have also been further profits from logistics and warehousing, consolidation of legal departments, accounting, sales, and marketing. These benefits are expected to drip down later in 2021.
Other benefits expectations
The company said that it is expecting long-term growth derived from other initiatives like launching “ WeShield Together&rdquo, which is the group purchasing division. There has also been an increase in the distribution agreements, which are long-termed. These are from the Fortune 500 and healthcare organizations.
The company is also expecting growth in the health care sector, including vaccinations and mobile COVID testing. There will also be a full suite of OPTEC products woven into the subsidiary’s sales and marketing division. In addition, the current board of WeShield will see an expansion with the addition of advisors and strategic board members. By 2023 and beyond, the company is expecting several joint ventures, acquisitions, and mergers.