Financial Statement Release
HansaMatrix Consolidated Interim Report for fourth quarter and 12 months of 2018
During the fourth quarter of 2018 HansaMatrix unaudited consolidated net turnover slightly decreased by 1% compared to the fourth quarter of 2017 and reached 5.061 million EUR; reported EBITDA result was 37% lower, and reached 0.517 million EUR, net loss amounted to 0.185 million EUR. During the period of 12 months of 2018 unaudited consolidated net turnover reached 21.152 million EUR, up by 7%; reported EBITDA result was 3.318 million EUR, down by 10% and net profit was 0.872 million EUR, decrease by 43% in comparison with 12 months of 2017. Results represent 12 month EBITDA margin of 15.7% and 12 month net profit margin of 4.1%.
Riga, 2019-02-20 22:46 CET --
During the fourth quarter of 2018 the Company reported turnover of 5.061 million EUR - decrease by 1% in comparison to the same period of 2017. The third quarter 2018 sales results showed 1% sales volume increase in comparison with previous quarter – 2018 Q3.
During first 12 months of 2018 the Company reported sales volume increased by 7% compared to the same period of 2017 and reached turnover of 21.152 million EUR.
During 2018 Q4 the Company reported quarterly EBITDA result of 0.517 million EUR and quarterly net loss result of 0.185 million EUR. The reported EBITDA result showed 10% decrease in comparison with Q4 2017 and 33% decrease compared to the previous quarter, 2018 Q3. Reporting period results represent quarterly EBITDA margin of 10.2%.
During 12 months of 2018 (“12m”) the Company reported EBITDA result of 3.318 million EUR and net profit result of 0.872 million EUR. The reported EBITDA result shows 10% decrease in comparison with 2017 12m. The 12 month net profit results for 2018 demonstrate 43% decrease in comparison with 2017 12m. Results represent 12 month EBITDA margin of 15.7% and 12 month net profit margin of 4.1%.
2018 12m results and the achieved y-o-y growth level reflect the firm commitment of the Company to execute its growth strategy. Lower 2018 Q4 EBITDA and profit in comparison with 2017 Q4 and 2018 Q3 does not show any trend or market weakness, it can rather be attributed to increased share of lower margin products in 2018 Q4. Profitability was also partially impacted by, previously reported in the Company 2018 Q2 financial report, fire accident that broke out in 2018 Q3 in one of HansaMatrix client’s wharehouses and was expected to have negative impact on HansaMatrix data networks segment sales in 2018 Q3 and Q4 due to supply chain delivery times of additional new components. This fire accident is not expected to impact the segment sales volume in the longer term.
Trailing twelve months (TTM) period sales (period starting at January 1, 2018 and ending with December 31, 2018) at 2018 Q4 reported to be 21.152 million EUR, decrease of 0.31% in comparison with TTM period ended at 2018 Q3. EBITDA result for the TTM 12 month period reported to be 3.318 million EUR, decrease by 8% in comparison with 12 month period ended at 2018 Q3. Net profit for TTM period reported 0.872 million EUR, 37% down if compared with 12 month period ended at 2018 Q3. Averaged EBITDA margin for TTM period is reported to be 15.7% and net profit margin for the same period is reported to be 4.1%.
HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 12 month period ended December 31, 2018
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.