Published: 2021-01-12 10:53:55 CET
Financial Statement Release

Update on COVID-19 impact on HansaMatrix revenue in Q4 and 12 months of 2020

Riga, 2021-01-12 10:53 CET -- Considering the current developments regarding COVID-19 spread globally and in the Baltic states, with this announcement HansaMatrix informs about revenue development in Q4 and 12 months of 2020.

Based on the preliminary data, in Q4 2020 HansaMatrix consolidated revenue amounted to 5.61 million EUR which was 15% smaller compared to Q4 2019. In 2020 consolidated revenue of the Company reached 22.6 million EUR, exhibiting 8% year on year decrease.

At the turn of the year, the COVID-19 situation deterioration was observed and the negative impact on the business of some of the Company's customers increased, but at the same time the positive market trend continues - increased demand in the data network and medical device sectors. At the beginning of 2021, there is also a deterioration of the situation in terms of transportation of components, which may have an impact on the execution times of production orders.

Māris Macijevskis, CFA

Management Board Member, Finance director
Phone: (+371) 6780 0002


About HansaMatrix

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, Internet of Things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.