HANZA Interim report Q1 2019: Listing on the Nasdaq’s main market and acquisition of Toolfac
The manufacturing strategist HANZA Holding AB (publ), listed on Nasdaq Stockholm Small Cap, today presents its interim report for Q1, 2019. The company shows continued profitable growth and a strong cash flow. Furthermore, the year has begun with a strategic acquisition, as well as a transfer of the company's share to the stock exchange's main list.
FIRST QUARTER (1 January–31 March 2019)
- Net sales increased by 13% to SEK 497.7 million (438.6).
- Operating profit was SEK 17.3 million (18.4). In March, HANZA was listed on the Nasdaq Stockholm’s main market, incurring listing expenses totaling SEK 3.5 million in the quarter. Toolfac Oy in Finland was acquired during the quarter, which resulted in acquisition expenses of SEK 2.0 million. Operating profit excluding these two items amounted to SEK 22.8 million (18.7).
- Profit after tax amounted to SEK 9.1 million (8.8), which corresponds to SEK 0.30 per share (0.36).
- Cash flow from operating activities amounted to SEK 36.6 million (9.1).
” In January, we acquired Toolfac, a Finnish company offering machining with a high degree of automation, specialized in hydraulic and pneumatic components as well as valve systems. A well-managed, profitable company that meets all of our acquisition criteria in terms of geographical location, technology, customers and management.”
“Last autumn we announced that we had commenced a process to change our listing to the Nasdaq’s main market, and we estimated that the process to be completed by summer 2019. However, we could proudly announce that we were approved for Nasdaq Stockholm main market already in March this year. During the list change process, a full review of our entire business has been conducted, which reduces the risk of unexpected events and creates a safer investment for our owners. The list change also enables new institutional investors who only invest in the main market.
”We follow our guiding star to create high customer value and we are delighted to note that new customers chose HANZA – to produce in a smarter and more cost-efficient way, and at the same time reduce their environmental impact. In February, we signed a multi-year global manufacturing agreement with a new customer, Epiroc, and in April we deepened our business with the medical technology company Getinge. Both these contracts are acknowledgements of the strength of HANZA’s business model.”
HANZA modernizes and streamlines the manufacturing industry. We create shorter lead time with more environmentally friendly processes and increase profitability for clients by bringing together different manufacturing technologies locally. Founded in 2008, HANZA today has an annual revenue of 1.8 billion SEK and operates in Sweden, Finland, Estonia, Poland, Czech Republic and China. Among HANZA’s clients are leading companies like ABB, Epiroc, Getinge, Saab Defense och Siemens. For more information visit www.hanza.com
The shares in HANZA are listed on Nasdaq Stockholm.