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 presentationTekna 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.
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
2023Q3 vF.pdf
