Published: 2020-02-17 08:09:19 CET
HansaMatrix
Other information disclosed according to the rules of the Exchange

Coronavirus influence on HansaMatrix business

Riga, 2020-02-17 08:09 CET -- HansaMatrix informs that the coronavirus outbreak that started in the second half of January, 2020 is impacting the elecronics industry supply chain of components from Asia. The extension of the Lunar New Year shutdown of factories in Asia has created a backlog in the world’s electronic component supply chain. Part of Asian component manufacturing plants have resumed operations last week, but for some manufacturers it is still unclear on when they will resume operations and what will be production and supply capacity.

HansaMatrix is carrying out the actions to minimize the impact on manufacturing business by negotiating and communicating with manufacturing clients on component sourcing and by seeking the opportunities to procure the components with the alternative or second suppliers in regions that are not impacted by the coronavirus.

The electronic component supply chain disruptions due to coronavirus could be expected to impact HansaMatrix manufacturing order execution, potentially shifting fulfillment times, and could increase component sourcing costs, which in turn could be expected to negatively influence sales volumes and profitability in Q1 of 2020, however at the moment it is too early to provide precise estimations of the aforementioned impact.

 

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.