Financial Statement Release
Update on COVID-19 impact on HansaMatrix revenue in Q1 2021
Riga, 2021-04-07 15:18 CEST --
Considering the current developments regarding COVID-19 spread globally and in the Baltic states, with this announcement HansaMatrix informs about revenue development in Q1 of 2021.
Based on the preliminary data, in Q1 2021 HansaMatrix consolidated revenue amounted to 5.79 million EUR demonstrating 11.8% increase compared to Q1 2020. The increase in revenue is explained by the growing customer demand in data networks sector.
Despite COVID – 19 situation, most of European leading Electronic Manufacturing Services (EMS) companies experience growth. Nevertheless, HansaMatrix business environment is currently influenced by the challanges in the supply chain, facing significant component deficit explained by the growth in upstream demand in data networks, automotive, medicine and IoT business sectors. The existing global component manufacturing capacity was not sufficient for development of new technologies and the demand driven by COVID-19 pandemic global outbreak. The component manufacturing capacity supply and demand mismatch could be expected to normalize in the course of the following 9-12 months.
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.