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HansaMatrix Consolidated Interim Financial Report for the second quarter and 6 months of 2019
Emitents HansaMatrix Akciju sabiedrība (529900S1YDO0MHC8K318)
Veids 1.2 Pusgada finanšu pārskati un revīzijas ziņojumi / ierobežotas pārbaudes
Valoda EN
Statuss Publicēts
Versija
Datums 2019-08-22 11:43:13
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During the second quarter of 2019 HansaMatrix unaudited consolidated net turnover increased by 15% compared to the second quarter of 2018 and reached historically highest 5.973 million EUR volume; reported EBITDA result was 1% lower, and reached 0.960 million EUR, net loss amounted to 0.054 million EUR. In the reporting period quarterly EBITDA margin of 16.07% was achieved. During the period of 6 months of 2019 unaudited consolidated net turnover reached 11.881 million EUR, up by 7%; reported EBITDA result was 2.076 million EUR, down by 3% and net profit was 0.146 million EUR, decrease by 84% in comparison with 6 months of 2018. Results represent 6 month EBITDA margin of 17.5% and 6 month net profit margin of 1.2%.

During the second quarter of 2019 the Company reported historically highest quarterly turnover of 5.973 million EUR –increase by 15% in comparison to the same period of 2018. The second quarter of 2019 sales results showed slight 1% sales volume increase in comparison with previous quarter – 2019 Q1.

During first 6 months of 2019 the Company reported sales volume increase by 7% compared to the same period of 2018 and reached turnover of 11.881 million EUR.

During 2019 Q2 the Company reported quarterly EBITDA result of 0.960 million EUR and slight quarterly net loss result of 0.054 million EUR. The reported EBITDA result showed slight 1% decrease in comparison with Q2 2018 and 14% decrease compared to previous quarter of 2019 Q1. In Q2 2019, the Company was operating with a small loss and net profit margin was negative. The reporting period results represent quarterly EBITDA margin of 16.07%.

During first 6 months of 2019 (“6m”) the Company reported historically highest 6m EBITDA result of 2.076 million EUR and net profit result of 0.146 million EUR. The reported EBITDA result shows 3% increase in comparison with 2018 6m. The 6 month net profit results for 2019 demonstrate 84% decrease in comparison with 2018 6m. Results represent 6 month EBITDA margin of 17.5% and 6 month net profit margin of 1.2%.

EBITDA margin in 2019 Q2 and 6m 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 proportional losses included in the consolidated financial statements from the associate companies. Both EBITDA and net profit margins in 2019 were also influenced by significant direct manufacturing labor wage increases.

2019 Q2 R&D turnover increased by 96% compared with 2018 Q2 R&D turnover and increased by 35% compared to the previous quarter Q1 2019 turnover, and is accounting for 9.7% share of Company’s consolidated sales in 2019 Q2. R&D grant income has not been included in reported R&D sales figures.

Substantial increase in R&D sales volumes in 2019 Q2 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 July 1, 2018 and ending with June 30, 2019) at 2019 Q2 reported to be at historically highest level of 21.948 million EUR, showing 3.71% increase compared to TTM sales for the period ended at 2019 Q1. EBITDA result for the TTM 12 month period reported to be 3.369 million EUR, a slight decrease of 0.43% in comparison with 12 month period ended at 2019 Q1. Net profit for TTM period reported 0.114 million EUR, 80% down if compared with 12 month period ended at 2019 Q1. Averaged EBITDA margin for TTM period is reported to be 15.4% and net profit margin for the same period is reported to be 0.5%.

Attachments:

  • HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 6 Month Period Ended June 30, 2019

The definitions of alternative performance indicators (APIs) used in the news release can be found on page 32 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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