THIRD QUARTER (July 1 - September 30, 2020)
Manufacturing strategist HANZA Holding AB (publ), listed on NASDAQ Stockholm, today presents its interim report for the period January - September 2020. The company describes that covid-19 continues to affect parts of the business, but that sales volumes have stabilized. Furthermore, HANZA sees that the pandemic has created new business opportunities through an increased need to both streamline and regionalize the supply chain in line with HANZA's business model. The Board has analyzed HANZA's financial targets in view of the extraordinary situation and considers them still realistic.
Operating profit after amortization of intangible assets (EBIT) amounted to SEK 15.2 million (14.3).
- Net sales amounted to SEK 503.1 million (515.5).
- Operating profit (EBITA) amounted to SEK 21.4 million (17.4), which corresponds to an EBITA margin of 4.3% (3.4).
- Profit after tax amounted to SEK 6.6 million (0.9), which corresponds to SEK 0.20 per share
FIRST NINE MONTHS (January 1 - September 30, 2020)
- Cash flow from operating activities amounted to SEK 25.9 million (29.1).
- Net sales amounted to SEK 1,661.2 million (1,519.8).
- Operating profit (EBITA) amounted to SEK 29.2 million (56.2). which corresponds to an EBITA margin of 1.8% (3.7).
Operating profit after amortization of intangible assets (EBIT) amounted to SEK 15.9 million (48.7).
At the outbreak of covid-19 HANZA initiated an action program which affected the result with SEK 27.5 million.
- Profit after tax amounted to SEK -6.6 million (18.1), which corresponds to SEK -0.19 per share (0.58).
- Cash flow from operating activities amounted to SEK 120.2 M (113.1).
CEO Erik Stenfors comments the report:
"During the third quarter, we continue to see a significant impact from covid-19 with sales of approx. 8% below expected volume. However, this is an improvement compared to the second quarter, when the decrease was approx. 10%. The stabilization, together with the action program launched in April 2020, means that the operating profit for the quarter turned out better than our assessment in the spring."
"The slowdown is linked to the pandemic. We note that our customers are stable companies, and if we look ahead, the volumes will increase when the pandemic gives way. Of course, it is not possible to say exactly when this will happen, but in the meantime we are actively working on new business opportunities created by the crisis, both new potential customers and new acquisitions. "
"The Board has analyzed the Group's financial targets in view of the pandemic and have assessed that they are still realistic and as such should remain unchanged. This means, among other things, that the margin target of 6% after amortization of intangible assets (EBIT) still stands."
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