First quarter January 1 - March 31)
HANZA Holding AB (publ) released its interim report for the first quarter of 2021 on April 26. The report shows increasing profitability and a continued strong cash flow. The company also describes how the acquisition in March was an important step in the company's strategic plan. Looking ahead, HANZA sees a growing market.
- Net sales amounted to SEK 567.4 million (599.1). Quantifiable items that affect the comparison with Q1, 2020, amount to a net of approx. SEK -70 million. Adjusted for these, growth was approx. 7 %.
- Operating profit (EBITA) increased to SEK 22.5 million (20.4), which corresponds to an operating margin of 4.0 % (3.4). Costs directly related to the acquisition of SLP charged the quarter with SEK 6.0 million. Excluding these costs, operating profit amounted to SEK 28.5 million (20.4), which corresponds to an operating margin of 5.0 % (3.4).
- Profit after tax amounted to SEK 9.1 million (6.4), which corresponds to SEK 0.27 per share (0.19).
- Cash flow from operating activities amounted to SEK 66.1 million (67.6).
Material events during the period
- On March 19, HANZA acquired Suomen Levyprofiili Oy ("SLP"), a successful Finnish manufacturer of sheet metal mechanics with over 100 employees.
- On March 23, the Nomination Committee presented its proposal to the Board ahead of the Annual General Meeting, which was a re-election of the board in its entirety.
CEO Erik Stenfors comments the report
"Last year we saw how our mature manufacturing clusters managed to meet a rapidly changing demand, with good profitability. We are now working actively to develop our smaller clusters to achieve a corresponding level throughout the Group."
"We see a good development of our sales and during the first quarter we decided on capacity-increasing machine investments of approximately SEK 30 million that will be installed during the autumn. In parallel, we are building our new production facility for complex assembly in Estonia, which will be opened at the beginning of next year."
Show as PDF
Show original from Cision
This information was distributed by Cision http://www.cisionwire.se/