Interim report (Q1 and Q3)
HansaMatrix Consolidated Interim Financial Report for the first quarter of 2019
During the first quarter of 2019 HansaMatrix unaudited consolidated net turnover increased by slight 0.18% compared to the first quarter of 2018 and reached 5.908 million EUR, representing historically highest quarterly turnover; reported EBITDA result was 6% higher, and reached 1.116 million EUR, net profit amounted to 0.201 demonstrating 60% decrease to the same period of 2018. In the reporting period quarterly EBITDA margin of 18.89% and net profit margin of 3.4% were achieved.
Riga, 2019-05-23 18:21 CEST --
During the first quarter of 2019 the Company reported turnover of 5.908 million EUR, which is historically highest quarterly turnover, representing slight increase by 0.18% in comparison to the same period of 2018. The first quarter 2019 sales results showed 17% sales volume increase in comparison with previous quarter – 2018 Q4.
During 2019 Q1 the Company reported quarterly EBITDA result of 1.116 million EUR and quarterly net profit result of 0.201 million EUR. The reported EBITDA result showed 6% increase in comparison with Q1 2018 and 116% increase compared to previous quarter of 2018 Q4. The quarterly net profit results for 2019 demonstrate 60% decrease in comparison with Q1 2018 and significant increase compared to previous – Q4 2018. Reporting period results represent quarterly EBITDA margin of 18.89% and net profit margin of 3.4%.
EBITDA margin in 2019 Q1 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.
2019 Q1 R&D turnover increased by 44% compared with 2018 Q1 R&D turnover but decreased by 37% compared to the previous quarter Q4 2018 turnover, and is accounting for 7.2% share of Company’s consolidated sales in 2019 Q1. R&D grant income has not been included in reported R&D sales figures.
Substantial increase in R&D sales volumes in 2019 Q1 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 April 1, 2018 and ending with March 31, 2019) at 2019 Q1 reported to be 21.162 million EUR, showing slight 0.05% increase compared to TTM sales for the period ended at 2018 Q4. EBITDA result for the TTM 12 month period reported to be 3.384 million EUR, increase by 2% in comparison with 12 month period ended at 2018 Q4. Net profit for TTM period reported 0.571 million EUR, 35% down if compared with 12 month period ended at 2018 Q4. Averaged EBITDA margin for TTM period is reported to be 16% and net profit margin for the same period is reported to be 2.7%.
Attachments: HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 3 Month Period Ended March 31, 2019
The definitions of alternative performance indicators (APIs) used in the news release can be found on page 27 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.