ADVA’s revenues for Q2 2020 increased by 9.3% to EUR 145.0 million from EUR 132.7 million in Q1 2020 and grew by 8.9% from EUR 133.2 million in the same year-ago period. Net income was EUR 7.6 million in Q2 2020 and overcompensated a net loss of EUR 7.2 million in Q1 2020 and also grew substantially from a net income of EUR 1.3 million in Q2 2019.
“Our results in the second quarter of 2020 were convincing. So far, the demand for our products and services has developed positively during the Covid-19 pandemic. A recession-related slowdown in the second half of the year is still possible, but, in the meantime, we believe that we will have further revenue growth in Q3,” said Brian Protiva, CEO, ADVA. “The pandemic has made our production and supply chains more complex and our transportation costs increased. But our ability to deliver is stable and fundamentally intact. Additionally, we have a global, well-diversified and loyal customer base with which we can expand and improve the digital infrastructure that our society is so increasingly dependent on.”
”Despite the ongoing Covid-19 pandemic, we managed to increase revenues and earnings in the second quarter, both sequentially and year over year,” commented Uli Dopfer, CFO, ADVA. “Our significantly improved profitability is mainly the result of the cost improvement measures that we introduced in 2019. Furthermore, we were able to improve our cash position compared to the first quarter by around EUR 15 million to EUR 67.6 million providing a solid financial basis. Due to the ongoing risks, both on the supply and on the demand side, we have concluded a KfW back-up facility of EUR 40 million for hedging purposes should a further Covid-19-driven crisis occur. With this preventive measure, we feel prepared for all scenarios.”
https://www.adva.com/en/about-us/investors/financial-results
