STOCKHOLM, Nov. 5, 2020
STOCKHOLM, Nov. 5, 2020 /PRNewswire/ -- Manufacturing strategist HANZA Holding AB (publ), listed on NASDAQ Stockholm, today presents its interim report for the period January - September 2020. The company describes that covid-19 continues to affect parts of the business, but that sales volumes have stabilized. Furthermore, HANZA sees that the pandemic has created new business opportunities through an increased need to both streamline and regionalize the supply chain in line with HANZA's business model. The Board has analyzed HANZA's financial targets in view of the extraordinary situation and considers them still realistic.
THIRD QUARTER (July 1 - September 30, 2020)
FIRST NINE MONTHS (January 1 - September 30, 2020)
CEO Erik Stenfors comments the report:
"During the third quarter, we continue to see a significant impact from covid-19 with sales of approx. 8% below expected volume. However, this is an improvement compared to the second quarter, when the decrease was approx. 10%. The stabilization, together with the action program launched in April 2020, means that the operating profit for the quarter turned out better than our assessment in the spring."
"The slowdown is linked to the pandemic. We note that our customers are stable companies, and if we look ahead, the volumes will increase when the pandemic gives way. Of course, it is not possible to say exactly when this will happen, but in the meantime we are actively working on new business opportunities created by the crisis, both new potential customers and new acquisitions.
"The Board has analyzed the Group's financial targets in view of the pandemic and have assessed that they are still realistic and as such should remain unchanged. This means, among other things, that the margin target of 6% after amortization of intangible assets (EBIT) still stands."
For further information please contact:
Erik Stenfors, CEO, Tel: +46-709 50 80 70, e-mail: email@example.com
Lars Åkerblom, CFO, Tel: +46-707 94 98 78, e-mail: firstname.lastname@example.org
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The following files are available for download:
HANZA Interim report January - September 2020