© Hanza Electronics Production | July 27, 2021
Hanza increases sales and swings to profit during 2Q
In the spring of 2021, Hanza managed to secured a number of new customers and projects. To meet the demand, the company continues to develop its manufacturing clusters and during the second quarter, a decision was made to invest an additional SEK 35 million (EUR 3.44 million).
Net sales during the quarter increased by 13% to SEK 633.8 (EUR 62.3 million), compared with SEK 559.0 million (EUR 54.9 million) during the same period last year. Operating profit (EBITA) increased to SEK 40.4 million (EUR 3.97 million), quite the increase from SEK -12.6 million (EUR -1.23 million) during 2Q20. Profit after tax ended up at SEK 26.0 million (EUR 2.55 million), compared to SEK -19.6 million (EUR 1.92 million) during the comparison period. “Long-term perspective is a guiding principle for HANZA, and it is clear that our strategy is working. During the second quarter, approximately 70% of HANZA had an operating margin of around 10%, which resulted in a Group margin of 6.4%. Retained financial costs during the expansion mean that the net result improves significantly; earnings per share amounted to SEK 0.73 in the second quarter," says CEO Erik Stenfors in the interim report “We are now working to complete our currently six manufacturing clusters. Once this phase is finalised, we will further scale up our company to meet the global demand for HANZA's business model,” the CEO continues.