HansaMatrix
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HansaMatrix Consolidated Interim Financial Report for the fourth quarter and 12 months of 2021

In 2021 consolidated revenue reached 21.962 million EUR, decreasing by 3%; a solid EBITDA result of 3.757 million EUR was reported, up by 24% in comparison with 2020; net loss amounted to 0.502 million EUR, as compared to the net loss of 0.847 million EUR in 2020. Results represent 12 month EBITDA margin of 17.1%. During the fourth quarter of 2021 HansaMatrix consolidated revenue reached 4.838 million EUR, decreasing by 13% compared to the fourth quarter of 2020; reported EBITDA result was 47% smaller, and reached 0.435 million EUR, net loss amounted to 0.516 million EUR as compared to the net loss of 0.359 million EUR in fourth quarter 2020. Quarterly results represent EBITDA margin of 8.99%.

Riga, 2022-02-15 16:00 CET -- During the fourth quarter of 2021 the Group reported quarterly revenue of 4.838 million EUR –decrease by 13% in comparison to the same period of 2020. The fourth quarter of 2021 revenue results showed 8% volume decrease in comparison with previous quarter – 2021 Q3.

In 2021 the Company reported sales volume decrease by 3% compared to the same period of 2020, reaching 21.962 million EUR.

During 2021 Q4 the Group reported quarterly EBITDA result of 0.435 million EUR and operated with net loss result of 0.516 million EUR. The reported EBITDA result shows 47% decrease in comparison with Q4 2020 and 53% decrease compared to previous quarter of 2021 Q3. In Q4 2021 the Group reported net loss 0.516 million EUR as compared to the net loss of 0.359 million EUR in Q4 2020 and net profit of 0.295 million in Q3 2021 Quarterly results represent EBITDA margin of 8.99%.

During 12 months of 2021 the Group reported EBITDA result of 3.757 million EUR and 12m net loss result of 0.502 million EUR. The reported EBITDA result shows 24% increase in comparison with 2020 12m. In 12 months of 2021, the Company operated with a net loss of 0.502 million EUR, as compared to the net loss of 0.847 million EUR in 12m 2020. In 12m of 2021, the Company operated with 17.1% EBITDA margin.

Q4 2021 revenue, EBITDA and EBITDA margin decrease compared to Q3 2021 is explained by the global electronic component deficit impeding manufacturing order execution volumes. Good performance in terms of 12m 2021 EBITDA result is explained by the increased proportion of high-value added products in manufactured product mix and by improvements in operational efficiency.

Net profit of the Group in Q4 and 12m 2021 is negatively influenced by several non-cash related items, including loss from investments in associates, EIB warrant fair value change provisions, EIB loan fair value change provisions and interest expense related to leases. For better inter-period profitability comparisons, the Group calculates normalized net profit which in Q4 2021 amounted to negative 0.306 million EUR and in 12m 2021 in aggregate amounted to positive 1.021 million EUR, respectively generating -6.32% and 4.65% Normalized net profit margin.

Attachments:

·        HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the fourth quarter of 2021 and 12 month period ended December 31, 2021.

The definitions of alternative performance indicators (APIs) used in the news release can be found on page 38 of the HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements.

Investor and media contact:
Māris Macijevskis, CFA
Management Board Member, 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 and other high added value business segments.