Riga, 2022-05-12 16:30 CEST -- During the first quarter (Q1) of 2022 the Group reported quarterly revenue of 6.030 million EUR -increase by 3% in comparison to the same period of 2021. The first quarter of 2022 revenue results showed 25% volume decrease in comparison with previous quarter - 2021 Q4.
During first quarter of 2022 the Group reported quarterly EBITDA result of 0.809 million EUR and operated with net loss result of 0.046 million EUR. The reported EBITDA result shows 35% decrease in comparison with first quarter of 2021 but 98% growth compared to previous quarter, fourth quarter of 2021. In Q1 2022 the Group reported net loss 0.046 million EUR as compared to the net profit of 0.045 million EUR in Q1 2021.
The Group calculates normalized net profit which in Q1 2022 amounted to 0.129 million EUR, decreasing by 77% on year over year basis. Quarterly results represent EBITDA margin of 13.42% and normalized net profit margin of 2.15%.
Q1 2022 EBITDA profitability increase compared to Q4 2021 is explained by better semiconductor availability at the Group level for manufacturing in Q1 2022, but decrease compared to Q1 2021 is explained by the product mix of manufactured products changes, where higher-added value products proportion decreased, which is till influenced by the global component deficit.
Net profit of the Group in Q1 2022 is negatively influenced by several non-cash related items, including loss from investments in associates in amount of 0.220 million EUR, EIB loan fair value change provisions in amount of 0.085 million EUR and interest expense related to leases in amount of 0.037 million EUR. For better inter-period profitability comparisons, the Group calculates normalized net profit which in Q1 2022 amounted to 0.129 million EUR, decreasing by 77% on year over year basis.
In Q1 2022 the Group carried out revaluation of fair value of warrants issued in relation to European Investment Bank (EIB) financing contract, decreasing warrant balance sheet value by 0.167 million EUR, due to decreasing average weighted price of HansaMatrix stock in Q1 2022, which by the same amount improved net profit in Q1 2021.
Attachments:
HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements for the 3 month period ended March 31, 2021.
The definitions of alternative performance indicators (APIs) used in the news release can be found on page 41 of the HansaMatrix Unaudited Interim Condensed Consolidated Financial Statements.
Investor and media contact:
Maris 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 and other high added value business segments.
Attachments:
HM report 3m 2022 Nasdaq EN 2022-05-12.pdf
https://attachment.news.eu.nasdaq.com/aab3252f31050004134c40c152bfc6bda
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