9.11.2023 07:00:00 CET | 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 third quarter of 2023.
"Once again we deliver strong growth in quarterly revenues. Revenues are up more
than 50 per cent from last year, driven by strong growth in both the Systems and
Materials business lines. I am also very pleased that the EBITDA was again
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 9.1 million, an increase of 53 per cent
compared to the third quarter in 2022. Sales growth in the quarter was driven by
a 121 per cent increase in Systems and a 25 per cent in Advanced Materials.
Year-to-date revenues are up 47 per cent. The adjusted EBITDA in the third
quarter of 2023 ?improved year-on-year by CAD 2.2 million to CAD -1.7 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. Year-to-date the EBITDA is improved by CAD 6.3
million.
Order intake was CAD 10.4 million in the quarter, up from 6.5 million in Q2.
?The total order backlog was CAD 23.7 million, supporting the previous guidance
of revenue growth for 2023 in both Materials and Systems.
One of the orders received in the quarter is a significant order valued at CAD
2.9 million for titanium powder for the manufacturing, at scale, of consumer
electronic components by metal injection molding. The order will be supplied
from material readily available in inventory, improving the company's cash
position. It plays an important role in Tekna's strategy to secure sales of the
entire production capacity and aligns with the company's ambitious growth
objectives.
"We are reiterating our guidance of a substantial improvement in 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 third 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-2023q3
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 third quarter 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, +14388856330, +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/17847682/2729/3815/Download%20announcement
%20as%20PDF.pdf
2023Q3 vF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847682/2729/3813/2023Q3%20vF.pdf