Published: 2020-05-05 09:00:35 CEST
Financial Statement Release

CORRECTION: Update on COVID-19 impact on HansaMatrix revenue in Q1 2020

Riga, 2020-05-05 09:00 CEST -- Changes made in headline of the announcement, the text of the announcement is not changed.

Considering the current developments regarding COVID-19 spread globally and in the Baltic states, before publishing full non-audited financial results of Financial Year 2020 for Q1 according to the financial calendar, with this announcement HansaMatrix informs about operative revenue of the Company in Q1 2020.

In Q1 2020 COVID-19 situation impact on HansaMatrix consolidated revenue is comparably limited, the Company turnover in Q1 2020 amounts to 5.18 million EUR which is 12.25% decrease year-on-year, compared to Q1 2019 turnover.

Factors influencing the decrease in revenue in Q1 2020 are related to COVID-19 global spread and are the following: personell safety issues, supply chain disruptions, and transportation network disruptions.

Due to unpredictable development of overall COVID-19 situation it is too early to provide the estimations of the potential impact on HansaMatrix sales in Q2 and Q3 of 2020.

Detailed HansaMatrix non-audited financial results of Financial Year 2020 for Q1 will be published according to the financial calendar.

Māris Macijevskis, CFA
Management Board Member, Finance director
Phone: (+371) 6780 0002


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.