Latvia, Markets and Companies, Technology

International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 19:40

HansaMatrix posts EUR 659,500 in audited profit in 2018

BC, Riga, 16.04.2019.Print version
Company HansaMatrix achieved EUR 20.535 mln in turnover last year, an increase of 5.4% on 2017, while the company's profit decreased 46.2% to EUR 659,501, according to the company's financial report submitted to Nasdaq Riga stock exchange.

HansaMatrix Group's turnover amounted to EUR 21.154 mln last year, 7.7% up from 2017, while the group's profit fell 2.1 times to EUR 781,018.

HansaMagtrix Group's sales in the Baltic countries increased 1.9% to EUR 9.302 mln, sales in Nordic countries rose 12.6% to EUR 5.896 mln, while sales in non-EU countries decreased 31.4% to EUR 417,000.

According to the company's management report, the increase in turnover is due to the growing demand from a number of existing clients in the industrial market sector and starting cooperation with new clients in the industrial and other product market sector.

Data network products and industrial products accounted for, respectively, EUR 9.884 mln (3 % decrease from 2017) and EUR 7.355 mln (9.2 % increase) of HansaMatrix Group's total turnover.

The company last year invested EUR 2.5 mln in increasing production capacity, research, test systems, and development of new products.

HansaMatrix is a 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.


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