9.2.2022 07:00:00 CET | Tekna Holding AS | Half yearly financial reports and audit reports / limited reviews
(Arendal, NORWAY / Sherbrooke QC, CANADA – 9 February 2022) Tekna Holding AS (Tekna, OSE:TEKNA), the world-leading provider of advanced materials to industry, increased materials revenues by 25% year-on-year in the fourth quarter 2021, amid strong demand from the aerospace industry. Annual materials order intake rose 46% year-on-year, bringing the order backlog for materials to a record CAD 10.2 million.
The fourth quarter of 2021 was characterized by:
* Materials sales order intake of $6.6 million, boosting annual order intake to $19.8 million. The resulting annual sales run rate is in the range of $19.8 million to $26.4 million.
* Materials revenues grew 25% from Q4 2020 to reach CAD 4.6 million, with 91% of sales generated from recurring customers.
* CAD 6.0 million in total revenues, a decrease of 17% year-on-year.
* Total order backlog stood at a solid CAD 15.3 million, of which CAD 10.2 million came from materials, which represents a 46% increase.
* Adjusted EBITDA of CAD -3.3 million, compared to CAD 4.0 million in Q4 2020, in line with YTD forecasts.
* Entered lease agreement for industrial-pilot production facility in Canada, with potential of providing capacity of up to 25 tons of powder annually by 2023, scalable up to 50 tons if needed.
“Tekna reported a solid order intake for materials in the fourth quarter, raising our order backlog to a record, amid strong demand from the aerospace industry. The market outlook for Additive Manufacturing, which accounts for approximately 60% of Tekna’s total revenue, remains positive, with demand in consumer electronics in China showing promising developments and sales in medical implants climbing towards pre-Covid levels,” says Luc Dionne, Tekna Holding’s chief executive officer.
Total revenues decreased due to a decline in system sales year-on-year, caused by temporary Covid-related order execution delays. Fourth quarter adjusted EBITDA was severely affected by lower systems revenue and high foreign commissioning costs arising from Covid restrictions.
In January 2022, Tekna announced the consolidation of its additive manufacturing powder production in Europe at a new facility in Pont-de-Veyle, in eastern France. Tekna has signed a nine-year lease agreement on the facility, which will strengthen the company’s supply chain resilience in Europe. The plant enables Tekna to be closer to its expanding portfolio of European customers, including previously announced and upcoming long-term supply agreements signed with major aerospace OEMs.
“This facility will be the centerpiece of a supply chain that is 100 per cent European-based, ranging from feedstock procurement to manufacturing of advanced powders, and delivery to point-of-use. With this, we’re paving the way for fully traceable, closed-loop material recycling in a circular economy, in line with Tekna’s ambition to enable more efficient use of resources and the elimination of waste,” says Dionne.
In the Printed Electronics segment, Tekna entered a lease agreement for an industrial-pilot production facility in Sherbrooke, Canada, with the potential of providing capacity of up to 25 tons of powder annually by 2023. With the new facilities in France and in Sherbrooke, Tekna will have created space to grow production capacity by approximately 2 500 tons of powder annually.
In the Energy Storage segment, the JDA with LG Chem reached a first milestone in January 2022. Also in the fourth quarter, Tekna signed NDAs with a major natural graphite producer as well as graphite-silicon composite producer. The company aims to sign a memorandum of understanding by the end of first quarter 2022 for the joint development of anode composite materials.
“We go into 2022 with a record high total order backlog of CAD 15.3 million, and with steadily expanding production capacity both in Canada and in Europe. Given the company’s solid outlook, we plan to uplist to the Oslo Stock Exchange main list over the course of 2022,” says Dionne.
Tekna will present its financial results for the fourth quarter 2021 on Wednesday 9 February, 2022, at 11:00 CET. The investor presentation will be live streamed and be hosted by Luc Dionne, CEO of Tekna Holding. The presentation will be held in English, and questions can be submitted throughout the event.
The streaming event is available through: https://www.tekna.com/investors/webcast-2021q4?hsLang=en
The full report and presentation are available at https://www.tekna.com/investors
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, +1 438 885 6330, Investors@tekna.com
About Tekna Holding AS
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.
www.tekna.com
Attachments
Download announcement as PDF.pdf
2021Q4 presentation_Final.pdf
