ADVA reported preliminary revenues for Q4 2020 of EUR 140.6 million and down by 7.0% from the year-ago quarter (Q4 2019: EUR 151.1 million).
“The fourth quarter of 2020 was an extraordinary finish to an extraordinary year,” said Uli Dopfer, CFO, ADVA. “Just like the beginning of the year, when the first wave of the pandemic hit, we encountered supply chain bottlenecks in Q4 caused by renewed lockdown regulations. As a result, we could not fulfill all orders as planned and revenue recognition for some projects moved to Q1 2021. In addition, the continuing depreciation of the US dollar against the euro reduced the revenue contributions from the dollar-denominated regions. On the other hand, this exchange rate shift was beneficial for our margins. Thanks to an advantageous customer and product mix and continued tight cost management, we can report today one of the most profitable quarters in our company’s history.”
“We look back with pride on a challenging but also very successful fiscal year,” commented Brian Protiva, CEO, ADVA. “In times of chaos, economic turbulence and global uncertainty, we held course and exceeded some of our ambitious goals. The cost reduction measures we introduced in 2019 continue to deliver sustainable results. In the fourth quarter of 2020, our profitability was well above analyst expectations, our cash generation was outstanding, and our order entry was very good in all regions. We’re starting the new financial year with well-filled order books and a strong tailwind. We are confident about our ability to drive continued profitable growth in the first quarter of 2021.”
Additional preliminary results for Q4 2020
- The preliminary pro forma operating income of EUR 14.4 million was up by 39.1% compared to Q4 2019 (Q4 2019: EUR 10.3 million)
- The preliminary pro forma operating income margin of 10.2% increased by 3.4 percentage points compared to the year-ago quarter (Q4 2019: 6.8%)
Preliminary results for the fiscal year 2020
- Preliminary revenues were EUR 565.0 million up by 1.5% compared to the previous year(2019: EUR 556.8 million)
- The preliminary pro forma operating income of EUR 33.8 million was up by 36.4% compared to the previous year(2019: EUR 24.8 million)
- The preliminary pro forma operating income margin of 6.0% increased by 1.5 percentage points compared to the previous year (2019: 4.5%)
