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International Internet Magazine. Baltic States news & analytics Thursday, 28.03.2024, 10:04

HansaMatrix profit amounts to EUR 872,100 in 2018

BC, Riga, 21.02.2019.Print version
Electronic system product developer and manufacturer HansaMatrix posted EUR 21.151 mln in turnover last year, an increase of 7.6% on 2017, while the company's profit fell 48.1% to EUR 872,102, according to the company's financial report submitted to Nasdaq Riga stock exchange.

In the fourth quarter last year, HansaMatrix turnover decreased 1.3 % year-on-year to EUR 5.061 mln, and fourth-quarter losses amounted to EUR 185,499 as compared to a profitable fourth quarter in 2017.


The company's management report says that the lower EBITDA and profit in the fourth quarter of 2018 does not show any trend or market weakness, it can rather be attributed to increased share of lower margin products. Profitability was also partially impacted by a fire accident that broke out in the third quarter of 2018 in one of HansaMatrix client's warehouses and was expected to have negative impact on HansaMatrix data networks segment sales in the third and fourth quarters last year due to supply chain delivery times of additional new components. This fire accident is not expected to impact the segment sales volume in the longer term.


Main sales drivers in 2018 continued to be Baltic customers with 45% market share of sales. Nordic and other EU sales reported as 28% and 26% of total sales. Product deliveries to customer locations outside EU amounted to 2% of total sales in 2018. Baltic sales increased 3% from 2017, Nordic sales rose 12%, other EU sales increased 17%, while outside EU sales decreased 43%.


Main sales contributors last year continued to be data network products with 47% sales share, followed by industrial product sales with 35% share in turnover. Internet of things product share in sales was 6% and other product share - 12%. Data network sales were 2% down from 2017, industrial product sales increased 11%, Internet of things product sales rose 13%, and other product sales reported 47% increase from 2017.


HansaMatrix investments amounted to EUR 2.509 mln last year, including EUR 1.041 mln in the fourth quarter.


In 2017, HansaMatrix posted EUR 19.649 mln in audited turnover, 15.8 % up from 2016, while the company's profit increased threefold to EUR 1.679 mln.






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