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Tekna Holding ASA
Earnings Release • Aug 17, 2023
3772_rns_2023-08-17_72f4b7fa-729f-4122-8dee-a0c6b509536b.pdf
Earnings Release
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Tekna Holding ASA: Half-Year and Second Quarter Results 2023 – All-time high quarterly revenues
17.8.2023 07:00:00 CEST | Tekna Holding ASA | Half yearly financial reports and audit reports / limited reviews
(Arendal, NORWAY / Sherbrooke QC, CANADA) Tekna Holding ASA (Tekna, OSE: TEKNA), a world-leading provider of advanced materials to industry, today announces the company's results for the first half year and second quarter of 2023.
"Once again we deliver all-time high quarterly revenues, driven by strong growth in both the Systems and Advanced Materials business lines. I am also very pleased that the EBITDA was close to break-even and significantly improved from last year. We experience a continued strong interest in the market where leading customers are approaching the industrial manufacturing phase," said Luc Dionne, CEO of Tekna Holding ASA.
Total revenue in the quarter was CAD 11.0 million, an increase of 45 per cent compared to the second quarter in 2022, closing the first half of the year at CAD 20.4 million. Sales growth in the quarter was driven by a 66 per cent increase in Systems and a 37 per cent in Advanced Materials. The adjusted EBITDA in the second quarter of 2023 improved year-onyear by CAD 2.6 million to CAD -0.6 million, closing the first half of the year at CAD -1.8 million. The adjusted EBITDA improvement is resulting from an increase in revenues and improved contribution margin showing clear effects of organizational efficiency and cost control measures.
Tekna reports order intake of CAD 6.5 million in the quarter, which is less than in Q1, but within normal variations quarter by quarter. The total order backlog was CAD 22.0 million, supporting the previous guidance of revenue growth for 2023 in both materials and systems.
"Our target for the capacity increase program has been reached. Our top priority going forward is to continue to increase sales, production and delivery of additive materials and to maintain the momentum on new orders and deliveries for Systems. We are reiterating our guidance on improving operating revenues and margins in 2023 compared to 2022, supported by the strong order backlog, increased production capacity and organizational efficiency," said Mr. Dionne.
Results presentation
Tekna will present its financial results for the second quarter today at 13:00 CET. The results will be presented by CEO Luc Dionne and CFO Espen Schie of Tekna Holding ASA, and the event will be made available via a live webcast. Click the following link to register and gain access to the webcast:https://www.tekna.com/investors/webcast-2023q2
Questions can be submitted via the webcast link during the live event. A recorded version of the webcast will be available shortly after the webcast has concluded.
For more information, please see the second quarter presentation material and report for the first half of 2023, which are attached to this notice and available at http://www.tekna.com.
Disclosure regulation
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Contacts
Arina Van Oost, Investor Relations | VP Corporate Strategic Development & Innovation, Tekna Holding ASA, +14388856330, +33670115190, [email protected]
About Tekna Holding ASA
Tekna is a world-leading provider of advanced materials to industry, headquartered in Sherbrooke, Canada.
Tekna produces high-purity metal powders for applications such as 3D printing in the aerospace, medical and automotive sectors, as well as optimized induction plasma systems for industrial research and production. With its unique, IP-protected plasma technology, the company is well positioned in the growing market for advanced nanomaterials within the electronics and batteries industries.
Building on 30 years of delivering excellence, Tekna is a global player recognized for its quality products and its commitment to its large base of multinational blue-chip customers. Tekna's powder products increase productivity and enable more efficient use of materials, thereby paving the way towards a more resilient supply chain and circular economy.