HANZA Interim Report January-March 2016
HANZA Holding AB (publ), listed on Nasdaq First North Premier, today announced results for the quarter ended March 31, 2016. The company reported profitable growth, with significant improvement in earnings and additional new customer projects.
HANZA is a strategic manufacturing partner that offers advice and complete production of customer products. The business model has led to HANZA few years has grown into becoming one of the industry leaders in the Nordic countries, with an annual sales exceeding SEK 1.2 billion. After an initial period of establishing the company, HANZA is now a phase of company development with focus on profitability.
First quarter 2016 financial summary
- Net sales increased by 27% to 338.6 million (266.0)
Excluding acquired and divested operations, the growth was 9%
- Operating profit from the operational business areas amounted to SEK 14.5 million (-2.7). EBIT amounted to SEK 12.5 million (-4.6)
- Profit after tax amounted to SEK 5.4 million (-7.6),
corresponding to 0.26 SEK per share (-0.96)
- Cash flow from operating activities amounted to SEK 5.7 million (-15.3)
Erik Stenfors, HANZA’s CEO, comment on the report:
"Our acceleration program 'Frontrunner', which we introduced at the beginning of 2015 continues to give results. We now see the fifth consecutive quarter of increasing profitability and for the first quarter 2016 we reached an operating margin of 3.7%. Furthermore, the capital structure is continuously improving and the equity ratio increased to 34%, compared with 23% at the end of the first quarter of 2015."
"At the beginning of 2016, we delivered yet another MIGTM analysis, which led to a contract where we will implement a customized optimization of the customer's manufacturing process. For HANZA it will result in annual manufacturing exceeding SEK 30 million, starting in the second quarter of 2016. We expect to receive further MIGTM projects during 2016. "
"We will continue to develop HANZA focusing on profitable growth and reduced debt in 2016. This means, among other things, continued efforts to develop our manufacturing clusters and to complete the synergies following the acquisition of Metalliset."
For more information please contact:
Erik Stenfors, VD, Tel: 46 709 50 80 70, mail: firstname.lastname@example.org
Lars Åkerblom, CFO, Tel: 070 794 98 78, mail: email@example.com
The information in this press release is such that HANZA must disclose it in accordance with the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.00 am (CET), May 10, 2016. Erik Penser Bankaktiebolag is the company's certified adviser.
This press release may contain certain forward-looking statements that reflect HANZA’s current views of future events and financial and operational performance. Words such as "intends", "anticipates", "expects", "may", "plan ", "anticipate" or similar expressions regarding indications or predictions of future developments or trends, and are not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties because it is dependent on future events and circumstances. Forward-looking statements are not guarantees regarding future results or developments and actual results may differ materially from those set forth in forward-looking information.