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HansaMatrix Consolidated Interim Financial Report for the fourth quarter and 12 months of 2019
Emitents HansaMatrix Akciju sabiedrība (529900S1YDO0MHC8K318)
Veids 2.2. Iekšējā informācija
Valoda EN
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Datums 2020-02-20 17:00:29
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During the fourth quarter of 2019 HansaMatrix unaudited consolidated net turnover increased by 17% compared to the fourth quarter of 2018 and reached 5.928 million EUR volume; reported EBITDA result was 8% higher, and reached 0.556 million EUR, net profit amounted to 0.081 million EUR. In the reporting period quarterly EBITDA margin of 9.38% and quarterly net profit margin of 1.37% were achieved. During the period of 12 months of 2019 unaudited consolidated net turnover reached 23.927 million EUR, up by 13%; reported EBITDA result was 3.574 million EUR, up by 8% and net profit was 0.199 million EUR, decrease by 77% in comparison with 12 months of 2018. Results represent 12 month EBITDA margin of 14.9% and 12 month net profit margin of 0.8%.

During the fourth quarter of 2019 the Company reported quarterly turnover of 5.928 million EUR –increase by 17% in comparison to the same period of 2018. The fourth quarter of 2019 sales results showed 3% sales volume decrease in comparison with previous quarter – 2019 Q2.

During first 12 months (“12m”) of 2019 the Company reported sales volume increase by 13% compared to the same period of 2018 and reached turnover of 23.927 million EUR.

During 2019 Q4 the Company reported quarterly EBITDA result of 0.556 million EUR and quarterly net profit of 0.081 million EUR. The reported EBITDA result showed 8% increase in comparison with Q4 2018 and 41% decrease compared to previous quarter of 2019 Q3. The reported net profit is improvement compared to Q4 2018 and Q3 2019 which both were finished with small net losses. Results represent quarterly EBITDA margin of 9.38% and quarterly net profit margin of 1.37%.

During first 12 months of 2019 the Company reported 12m EBITDA result of 3.574 million EUR and net profit result of 0.199 million EUR. The reported EBITDA result shows 8% increase in comparison with 2018 12m. The 12 month net profit results for 2019 demonstrate 77% decrease in comparison with 2018 12m. Results represent 12 month EBITDA margin of 14.9% and 12 month net profit margin of 0.8%.

EBITDA margin in 2019 12m remains at comparably high level, determined by product with higher added value proportion in the total sales volume. Net profit margin exhibits decreasing trend, explained by the increased interest payments, where interest payment provisions for European Investment Bank financing is included and explained by the increased share of losses included in the consolidated financial statements from the associate companies due to increased ownership.

Both EBITDA and net profit margins in 2019 were also influenced by significant direct manufacturing labor wage increases.

Profitability in 2019 Q4 was negatively influenced by holiday season in December and also by Zinātnes parks financial result from April 29, 2019 to December 31, 2019 consolidation into HansaMatrix consolidated financial statements, decreasing HansaMatrix EBITDA in 2019 Q4 by 0.08 million EUR.

2019 Q4 R&D turnover increased by 15% compared with 2018 Q4 R&D turnover and increased by 59% compared to the previous quarter Q3 2019 turnover, and is accounting for 13% share of Company’s consolidated sales in 2019 Q4. R&D grant income has not been included in reported R&D sales figures.

Increase in R&D sales volumes in 2019 Q4 is explained by R&D manufacturing department substantially increasing production of high-tech optical devices and by working on several other R&D projects.

Trailing Twelve Months (TTM) - 12 month period sales (period starting in January 1, 2019 and ending with December 31, 2019) at 2019 Q4 reported to be at historically highest level of 23.927 million EUR, showing 3.76% increase compared to TTM sales for the period ended at 2019 Q3. EBITDA result for the TTM 12 month period reported to be 3.574 million EUR, an increase of 1.10% in comparison with 12 month period ended at 2019 Q3. Net profit for TTM period reported in amount of 0.199 million EUR. Averaged EBITDA margin for TTM period is reported 15.3% and net profit margin 0.8%.

Attachments:

  • HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 12 Month Period Ended December 31, 2019

The definitions of alternative performance indicators (APIs) used in the news release can be found on page 33 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 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.

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