Good for Business, Latvia, Markets and Companies, Technology

In the second quarter of 2018, HansaMatrix saw its turnover grow 7.2% y-o-y to EUR 5.187 mln and the group’s profit expanded 61.8% to EUR 402,384.

The first-half results and the achieved annual growth level are in line with expectations and reflect the company’s firm commitment to its growth strategy, the company’s management said, adding that in the second quarter the company’s sales declined from the first quarter due to unusually warm summer months, the holiday season in May and June, and to some extent also due to as a global shortage of electronic components.

The group’s Baltic sales grew 7.4% y-o-y to EUR 4.797 mln in the first half of 2018, accounting for 43.3% of total turnover. Sales in Nordic countries rose 26.3% to EUR 2.967 mln, or 26.8%, and sales in other EU member states jumped 53.6% to EUR 3.157 mln, or 28.5% of total turnover. The high-tech group’s sales outside the EU shrank 2.8 times to EUR 163,000, or 1.5% of total turnover.

In 2017, HansaMatrix group reported audited turnover of EUR 19.649 mln at a 15.8 % growth from 2016, and tripled its profit to EUR 1.679 mln. In the first quarter of 2017, the group's turnover was EUR 4.495 mln and it earned a profit of EUR 411,997.

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.