Published: 2021-04-26 21:14:12 CEST
HansaMatrix
Annual Financial Report

HansaMatrix audited consolidated and parent company audited Financial report for year 2020

Revenue from contracts with customers of HansaMatrix Group in the financial year 2020 amounted to EUR 22.59 million, decreasing by 8.21% compared to the previous financial year 2019.The Group reported operational cash flow EBITDA in amount of EUR 3.081 million, which is 18.08% decrease and net loss EUR 0.552 million in comparison with the net profit of EUR 0.208 million in 2019.

Riga, 2021-04-26 21:14 CEST -- HansaMatrix Group completed the 2020 reporting period with revenue from contracts with customers (hereinafter – the turnover) of EUR 22.59 million, which is 8.21% less than the EUR 24.61 million reported in the previous period. During the reporting period, the Group reported EBITDA result of EUR 3.081 million, compared to EUR 3.761 million in 2019; the net loss amounted to EUR 0.552 million, compared to EUR 0.208 million net profit in 2019.

In 2020, the R&D turnover reached EUR 1.645 million decreasing by 27.74% compared to EUR 2.278 million achieved in 2019. In 2020, the R&D turnover represented 7.3% of the total consolidated sales. The decrease in the R&D sales in 2020 resulted from the decrease in the R&D services provided in optics and photonics and from the decrease in manufacturing volume of hi-tech optics and photonics products influenced by COVID-19 extraordinary situation, decreasing R&D spending budgets in the industry.

HansaMatrix Parent Company closed the year 2020 with a turnover of EUR 21.39 million, decreasing by 7.27% compared to the EUR 23.06 million revenue reported in the previous period. During the reporting period, the Parent Company reported EBITDA of EUR 1.172 million, compared to EUR 1.627 million in 2019; the net loss amounted to EUR 0.656 million, compared to the net profit of EUR 0.324 million in 2019.

Revenue and EBITDA result in 2020 was influenced by COVID-19 global spread impacting and creating challenges in such business environment factors as personnel safety issues, supply chain disruptions, and transportation network disruptions. COVID-19 has influenced the Company performance already starting with the second half of January, 2020 when the virus gained momentum in China and Asia creating significant disruptions in the Company supply chain from this region. Some of the Company’s clients, mostly in industrial, IoT and other sectors were influenced by the pandemic situation, but at the same time the positive market trend that started in 2020 Q3 continues - increased demand in the data network and medical device sectors.

In 2020, the net profit margin was influenced by the decreased revenue and the level of fixed cost base, by the interest payment provisions for the European Investment Bank financing, by the share of losses from the associate company and by EIB warrant value change cost increase due to increasing HansaMatrix stock market price.

During the 12-months of 2020, the Group invested EUR 0.84 million in increasing the production capacity, research instruments, testing systems and development of new products.

Please see explanations of audited financial result differences compared to operative financial results in 2020 on page 87 in the Audited Consolidated and Parent Company’s financial reports for the financial year 2020 (hereinafter – the Financial report)

The definitions of alternative performance indicators (APIs) used in the news release can be found on page 89 of the Financial report.

Attachments:

·         HansaMatrix Audited Consolidated and Parent Company’s financial reports for the financial year 2020

·         Auditor’s report

·         Management Board and Council remuneration report for financial year 2020

·         Corporate Governance report for financial year 2020

Investor and media contact:

Māris Macijevskis
Finance director
Phone: (+371) 6780 0002
E-mail:
invest@hansamatrix.com

http://www.hansamatrix.com

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, optics and photonics 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.


HansaMatrix_auditors_report_2020_esigned.pdf
HansaMatrix_FS_2020_ENG_2021-04-26.pdf
HM_Atalgojuma zinojums_2020_EN_2021-04-26.pdf
HMX_CGR_2020_EN_2021-04-26.pdf