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Beskrivning
| Land | Kanada |
|---|---|
| Lista | OB Match |
| Sektor | Material |
| Industri | Forskning & Utveckling |
6.2.2025 07:00:01 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 fourth quarter of 2024. Despite facing headwinds in the Systems business, Tekna achieved growth in its Advanced Materials business, demonstrating its resilience in a challenging market environment.
Key Financial Highlights for the fourth Quarter 2024:
- Revenue: CAD 9.6 million (11.4 million), down 15.4% from Q4 2023
- Adjusted EBITDA: Negative CAD 1.4 million, from negative CAD 0.5 million
- Cashflow from operations: Improved by CAD 10.4 million compared to FY 2023
- Cash balance CAD 12.4 million, improved by CAD 4.8 million compared to last quarter
- Headcount Reduction: Number of employees reduced year-over-year by 16.7% to 185 employees (222)
- More than 200 customers served in FY 2024
“Our Plasma Systems product line faced headwinds, with reduced order intake and revenues as some projects in the pipeline have been delayed. However, our focus on operational efficiency and price management has resulted in sustained contribution margins in 2024 YoY”, said Luc Dionne, CEO of Tekna Holding ASA.
He continued: “In Advanced Materials, the industry dynamics remained positive despite challenges stemming from global economic conditions, interest rates, and market fluctuations. In 2024, we have experienced growth across nearly all customer segments, with Medical up 29%, Aerospace up 24%, and Consumer Electronics up 24%. However, sales to 3D printer manufacturers reduced by 40%.”
The company's adjusted EBITDA for Q4 2024 stood at negative CAD 1.4 million (vs. negative CAD 0.5 million in Q4 2023), reflecting the challenges in the Systems business. In 2024, cash flow from operations improved by CAD 10.4 million compared to 2023. Much due to a reduction of net working capital by CAD 5.1 million during the year and CAD 2.9 million from litigation settlement. This achievement comes despite the negative impact of CAD 2.9 million on EBITDA due to a substantial reduction in Plasma systems revenue in the year.
Dionne concluded: “The strategic changes we have implemented—including restructuring and cost reductions—are aimed at driving profitability and long-term sustainability. These actions are even more critical given the current geopolitical landscape and short-term uncertainties caused by the recent US administration threat of tariffs on imports from Canada. As we move into 2025, our commitment to innovation and capital discipline remains unwavering. We look forward to strengthening our market position in both Advanced Materials and Systems.”
Results presentation
Tekna will host a short presentation of the financial results for the fourth quarter today at 19:00 CET. The highlights 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://investorweb.no/ir-channel/TEKNA/event/ccbaee43-3f3c-42ab-a02e-8f666f131380
To submit questions before, during, or after the webcast, please email investors@tekna.com or use the Q&A section on https://investorweb.no/ir-channel/TEKNA/q&a. A recorded version of the webcast will be available shortly after the webcast has concluded.
For more information, please see the report for the fourth quarter 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, +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.