5.5.2021 07:00:01 CEST | Tekna Holding AS | Half yearly financial reports and audit reports / limited reviews
(Arendal, NORWAY / Sherbrooke QC, CANADA – 05 May 2021) Tekna Holding AS (Tekna, OSE:TEKNA), the world-leading provider of advanced materials to industry, reported revenues of CAD 7.8 million in the first quarter of 2021 (Q1 2020: 4.3) and an adjusted EBITDA of CAD 0.4 million (-1.7), of which recurring revenues amounted to 85 percent in the period.
“Tekna had a solid start to 2021, posting 83 percent revenue growth year-on-year, mainly driven by new customers and increased powder sales, a trend which is accelerating,” says Morten Henriksen, Tekna Holding’s chief executive officer. “We’ve already secured 65 percent of our annual revenue target for materials and we’re scaling up our sales organization and our production capacity globally to meet demand in all three of our operating segments.”
Tekna reported revenues of CAD 7.8 million in the first quarter of 2021, up from CAD 4.3 million in the corresponding quarter last year, and an adjusted EBITDA of CAD 0.4 million, compared to CAD -1.7 million in the first quarter 2020. Powder revenues reached a record CAD 4.4 million, up 23 percent year-on-year. Recurring revenues rose to CAD 3.7 million, up 42 percent from the first quarter 2020.
In April, Tekna’s Board of Directors approved a roadmap for capacity increase for the three segments, Additive Manufacturing, Printed Electronics and Energy Storage, which will bring the company’s total number of plasma systems from eight to 14. The company has commissioned a state-of-the-art powder atomizer for titanium to meet growing demand from the aerospace, medical, and automotive industries.
“The first quarter 2021 offered several milestones, including the listing of Tekna Holding AS on Euronext Growth in Oslo in March,” says Luc Dionne, chief executive officer of Tekna Canada. “Tekna raised close to NOK 700 million in new equity prior to the listing, providing us with the financial strength to fuel our ambitious growth strategy.”
Tekna is well positioned for growth and has a proven track-record of scalability. Revenues are driven by megatrends accelerating demand for high-quality micro and nano materials and increasing market share due to the uniqueness of the materials produced.
In the Energy Segment, Tekna signed an agreement in April with the leading Korean chemical company LG Chem on a multi-year joint development program to produce new materials that will improve the storage capacity and the cycle stability of Lithium-Ion batteries. Both companies bring patented technology to the project, which will contribute to meeting the accelerating demand for high-performance Lithium-ion batteries, driven by the growing global need for energy storage.
“Tekna’s operations have been largely unaffected by the Covid-19 pandemic and the market outlook is positive. We’re on track to reach our target to grow 2020 materials revenues of CAD ~13 million to a run-rate of CAD ~22 million in 2021,” says Henriksen.
Tekna will present its first quarter 2021 report on Wednesday 5 May 2021 at 14:00 CET. The investor presentation will be streamed live and be hosted by Morten Henriksen, CEO Tekna Holding AS and Chairman Tekna Canada, and Luc Dionne, CEO Tekna Canada. The presentation will be held in English and questions can be submitted throughout the event. The streaming event is available through:
https://channel.royalcast.com/landingpage/hegnarmedia/20210505_8/
For additional information, please contact us.
* Arina van Oost, VP Corporate Strategic Development & Innovation / IR manager, +1 438 885 6330, investors@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, +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.
www.tekna.com
Attachments
Download announcement as PDF.pdf
Tekna Q1 2021_Final.pdf
