HansaMatrix Consolidated Interim Financial Report for the first quarter of 2021
During the first quarter of 2021 HansaMatrix unaudited consolidated net turnover increased by 12% compared to the first quarter of 2020 and reached 5.828 million EUR volume; reported EBITDA result was 181% higher, and reached 1.241 million EUR, net profit amounted to 0.045 million EUR. In the reporting period quarterly EBITDA margin of 21.29% and net profit margin of 0.77% was achieved.
Riga, 2021-05-14 09:51 CEST --
During the first quarter of 2021 the Group reported quarterly turnover of 5.828 million EUR –increase by 12% in comparison to the same period of 2020. The first quarter of 2021 sales results showed 5% sales volume increase in comparison with previous quarter – 2020 Q4.
During 2021 Q1 the Group reported quarterly EBITDA result of 1.241 million EUR and operated with net profit result of 0.045 million EUR. The reported EBITDA result shows 181% increase in comparison with Q1 2020 and 43% increase compared to previous quarter of 2020 Q4. In Q1 2021 the Group reported net profit 0.045 million EUR as compared to net loss of 0.435 million in 2020 Q1. Quarterly results represent EBITDA margin of 21.29% and net profit margin of 0.77%.
Q1 2021 achieved EBITDA result and high level of EBITDA margin in Q1 2021 is explained by the increased proportion of higher value-added products in the manufactured product mix in the reporting period. In Q1 2021 the Group carried out revaluation of fair value of warrants issued in relation to European Investment Bank (EIB) Financing contract in amount of 0.209 million EUR due to increasing average weighted HansaMatrix stock market price in Q1 2021, which decreased net profit in the reporting period.
At the beginning of 2021 COVID-19 situation deterioration was observed, however at the same time the positive market trend continued - increased demand in the data network and medical device sectors. In Q1 2021 the semiconductor component deficit situation in the market continued, which to a certain, comparably limited extent impeded the business development in Q1 2021 and may have an impact on the execution times of production orders in the coming quarters of 2021.
HansaMatrix R&D business activities have been mostly concentrated on providing R&D services and manufacturing services to the associated company LightSpace technologies and also include manufacturing services provided to third parties related to high-tech optical devices in optics and photonics sector. Starting with Q1 2021 the Group stops separately reporting the R&D revenue as R&D services will be provided complimentary to the core business of Electronic Manufacturing Services and are not expected to constitute substantial part of the total Group revenue.
Trailing Twelve Months (TTM) period ending with March 31, 2021 revenue reached 23.233 million EUR, showing 3% increase compared to TTM sales for the period ended at 2020 Q4. EBITDA result for the TTM period reported to be 3.881 million EUR, an increase of 26% in comparison with 12 month period ended at 2020 Q4. The TTM period resulted in a net loss of 0.071 million EUR. Averaged EBITDA margin for TTM period is reported 16.71%.
· HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 3 Month Period Ended March 31, 2021
The definitions of alternative performance indicators (APIs) used in the news release can be found on page 31 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
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.