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HansaMatrix prolongs factoring agreements with Swedbank Lizings

BC, Riga, 03.07.2018.Print version
Latvian hi-tech group HansaMatrix has prolonged the factoring agreements with Swedbank Lizings leasing company, HansaMatrix said in a statement submitted to the Nasdaq Riga stock exchange, cites LETA.

HansaMatrix group has signed agreements with Swedbank Lizings to prolong for one year the maturity of the existing factoring financing limits in the aggregate amount of EUR 2.76 million to be used for working capital financing, including export transactions.

"The factoring agreements will allow the company to speed up the working capital turnover and potentially to increase the manufacturing volumes," said Ilmars Osmanis, CEO of HansaMatrix.

In the first quarter of 2018, HansaMatrix group posted EUR 5.895 million in turnover at a 31.2 percent rise year-on-year, and the group's profit reached EUR 502,178, growing 21.9 percent from the same period last year,

In 2017, HansaMatrix group reported audited turnover of EUR 19.649 million at a 15.8 percent growth from 2016, and tripled its profit to EUR 1.679 million.

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.

HansaMatrix shares are quoted on the Main List of the Nasdaq Riga stock exchange.

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