STOCKHOLM, Feb. 16, 2021
STOCKHOLM, Feb. 16, 2021 /PRNewswire/ -- Manufacturing strategist HANZA Holding AB (publ), listed on Nasdaq Stockholm, today presents its year-end report for 2020. Profitability for the past year has been negatively affected by declining volumes caused by the pandemic, and by non-recurring costs linked to an action program launched by the company in April 2020 in order to meet the economic downturn. However, the company is optimistic about the future and has, among other things, started building a new factory in Estonia to meet future volume increases. New acquisitions are within the current strategy, thanks to a very strong cash flow.
FOURTH QUARTER (October 1 - December 31, 2020)
FULL YEAR (January 1 - December 31, 2020)
CEO Erik Stenfors comments
"We have seen how our largest manufacturing clusters have handled volume fluctuations during the pandemic in a unique way. In Sweden, the operating margin returned to over 9% during the fourth quarter, despite reduced volumes. Our work ahead is therefore focused on developing our smaller clusters in a similar way.
"We have for a long time shown strong cash flows. This was also the case in 2020, with a cash flow amounting to SEK 182 million (122). Our operating net debt could therefore be reduced by 23%, from SEK 350 million to SEK 270 million. It provides flexibility and opportunities for, among other things, new strategic acquisitions.
"The virus outbreak has temporarily overshadowed the great challenge of our time, to reduce carbon dioxide emissions. HANZA's business model supports the global climate trend, and we will continue to expand our work with developing green supply chains."
For further information please contact:
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 08.05 am (CET), February 16. 2021.
HANZA is a global knowledge-based manufacturing company that modernizes and streamlines the manufacturing industry. Through production facilities with various manufacturing technologies grouped into local clusters as well as advisory services, we create shorter lead times, more environmentally friendly processes and increased profitability for our customers. This means we are contributing to a better and more sustainable future. The company was founded in 2008 and since 2019 has sales exceeding SEK 2 billion, with operations in Sweden, Germany, Finland, Estonia, Poland, the Czech Republic and China. Among our clients you find leading companies such as ABB, Epiroc, Getinge, Oerlikon, Saab and Siemens.
HANZA is listed on Nasdaq Stockholm's main list.
For more information please go to: www.hanza.com
Important information 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.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
HANZA Year-end report 2020