Tekna Holding ASA

Earnings Release • May 15, 2024

Tekna Holding ASA: First Quarter Results 2024 - Continued focus on sustained growth and margin improvement despite soft start of the year

Tekna Holding ASA: First Quarter Results 2024 - Continued focus on sustained growth and margin improvement despite soft start of the year

15.5.2024 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 quarter of 2024. The company reported a decrease

in revenues but maintains a strong outlook for the year with a robust order

backlog and continued margin improvement.

In the first quarter of 2024, revenues came in at CAD 8.7 million, an 8 per cent

decrease from the same period last year. The decrease in total revenue reflects

a 5 per cent decline in systems revenue to CAD 2.9 million and a 10 per cent

decline in materials revenue to CAD 5.8 million.

Despite the lower revenues, the company's order backlog remains robust.

Supported by a significant increase in materials order intake, the order backlog

grew by 17 per cent to CAD 15.9 million. Adjusted EBITDA was CAD -2.6 million in

the quarter, compared to CAD -1.2 million in Q1 2023. Total order backlog at the

end of Q1 was CAD 22.9 million, compared to CAD 26.4 million one year ago.

"Tekna has navigated a challenging quarter with strategic focus and operational

discipline. While our revenues have seen a modest decline, we are encouraged by

the materials' order intake increase of 26% over the same period last year,

growing the order backlog and providing a positive outlook for the remainder of

the year," said Luc Dionne, CEO of Tekna Holding ASA.

The company is maintaining its guidance for revenue growth and margin

improvements for the remainder of 2024 and Tekna remains committed to its

strategic initiatives to enhance financial performance.

"Our outlook for 2024 remains positive. The atomizer commissioned in Q4 2023 is

running at full capacity and we are about to ramp-up production on a newly

installed machine. Together with the strong order pipeline, this underscores our

confidence in the business's direction and the demand for our innovative

products. We are well-positioned to leverage our market leadership and

operational efficiency to deliver enhanced shareholder value going forward,"

added Dionne.

Results presentation

Tekna will present its financial results for the first quarter and a and

Business and Market update today at 13:00 CEST. 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-2024q1

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 first quarter and Business and Market

update presentation, which are attached to this notice and available at

http://www.tekna.com - 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, +33670115190, investors@tekna.com

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.

https://www.tekna.com

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847682/3100/4475/Download%20announcement

%20as%20PDF.pdf

2024Q1 vF website.pdf -

https://kommunikasjon.ntb.no/ir-files/17847682/3100/4474/2024Q1%20vF%20website.p

df