Tekna releases Q4 2021 financial results, order intake up 46%
February 9, 2022
Tekna Holding AS, Sherbrooke, Quebec, Canada, has reported an increase of 25% in materials revenues year on year in the fourth quarter of 2021. Annual materials order intake also rose 46% year on year, bringing the materials order backlog to CAD$10.2 million while the total order backlog stood at CAD$15.3 million.
The fourth quarter of 2021 was further characterised by CAD$6 million in total revenues, representing a decrease of 17% from the previous year. Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) were reported at -CAD$3.3 million compared to CAD$4 million in Q4 of 2020 in line with year-to-date forecasts. The decrease in total revenues is said to have decreased due to a decline in system sales year-on-year, caused by temporary COVID-related delays. The EBITDA was affected by lower systems revenue and high foreign commissioning costs arising from COVID restrictions.
“Tekna reported a solid order intake for materials in the fourth quarter, raising our order backlog to a record, amid strong demand from the aerospace industry,” stated Luc Dionne, Tekna Holding’s CEO. “The market outlook for Additive Manufacturing, which accounts for approximately 60% of Tekna’s total revenue, remains positive, with demand in consumer electronics in China showing promising developments and sales in medical implants climbing towards pre-COVID levels.”
In January 2022, Tekna announced the consolidation of its AM powder production in Europe at a new facility in Pont-de-Veyle, in eastern France, in an effort to allow the company to exist nearer to its European customers.
In the Printed Electronics segment, Tekna entered a lease agreement for an industrial-pilot production facility in Sherbrooke, Canada, with the potential of providing capacity of up to 25 tons of powder annually by 2023. With its new facilities in France and in Sherbrooke, Tekna expects to have created space to grow production capacity by approximately 2,500 tons of powder annually.
In the Energy Storage segment, the JDA with LG Chem reached a first milestone in January 2022. Also in the fourth quarter, Tekna signed NDAs with producers of major natural graphite and a graphite-silicon composite. The company aims to sign a memorandum of understanding by the end of the first quarter of 2022 for the joint development of anode composite materials.
Dionne concluded, “We go into 2022 with a record high total order backlog of CAD 15.3 million, and with steadily expanding production capacity both in Canada and in Europe. Given the company’s solid outlook, we plan to uplist to the Oslo Stock Exchange main list over the course of 2022.”