ADVA reports Q2 2021 preliminary financial results and narrows outlook for the full year 2021
ADVA Optical Networking SE (ISIN: DE0005103006, FSE: ADV) today published a revised profitability outlook and, for this reason, the preliminary results for the second quarter of 2021. A corresponding ad-hoc announcement according to article 17 of the market abuse regulation was published.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210716005285/en/
Brian Protiva, CEO, ADVA (Photo: Business Wire)
Preliminary results for Q2 2021
- Preliminary revenues reached EUR 149.4 million, up by 3.0% compared to Q2 2020 (Q2 2020: EUR 145.0)
- Preliminary pro forma operating income for Q2 2021 was EUR 14.4 million and increased by 42.6% compared to Q2 2020 (Q2 2020: EUR 10.1 million)
- Preliminary pro forma operating income margin of 9.7% increased by 2.7 percentage points compared to Q2 2020 (Q2 2020: 7.0%)
Despite the high level of complexity in supply chains caused primarily by the semiconductor crisis and the associated additional costs, ADVA was able to report a very successful preliminary 6M result for the 2021 financial year. Preliminary revenues for the 6M period were EUR 293.8 million (6M 2020: EUR 277.7 million) and preliminary pro forma operating income was 9.3% of revenues (6M 2020: 3.0%). The consistent execution of ADVA’s transformation strategy, as well as expanded measures for strict cost control, should also have a positive effect on the pro forma operating income in the further course of the year. Based on the very good results for the first half of the year and the very promising outlook for the rest of the financial year, the Management Board considers a pro forma operating income of less than 7% of revenues as unlikely, hence narrowed the outlook corridor to 7% to 10% for the full year.
Despite this positive development, the global Covid-19 pandemic and semiconductor crisis continues to pose high risks to ADVA’s supply chain. The current bottlenecks in the semiconductor industry are increasingly presenting ADVA and other telecommunications equipment manufacturers with major challenges. Hence, from today’s perspective the Management Board decided to keep the revenue outlook for the full fiscal year of between EUR 580 million and EUR 610 million.
For the fiscal year 2021, the management expects revenues between EUR 580 and EUR 610 million and now a pro forma operating income margin of between 7% and 10%.
“Today’s preliminary quarterly results make me incredibly proud of the ADVA team,” said Brian Protiva, CEO, ADVA. “After the strong first quarter, we were able to grow again in Q2 2021. The digitization efforts in many regions of the world are in full swing, and the expansion of communication infrastructure is advancing. The demand for our technology is high across our entire portfolio and our order books are filled at record levels. The global semiconductor shortage is still a concern, but we are managing our supply chain well. Thanks to the dedication, agility and flexibility of our team, ADVA is on a clear trajectory of growth with rock-solid profitability.”
“The second quarter of 2021 marked another record quarter in terms of profitability. While continuing to execute our business transformation strategy, we absorbed higher purchase prices of components due to the semiconductor crisis and reached a preliminary pro forma EBIT of 9.7%,” said Uli Dopfer, CFO, ADVA. “With that strong first six months in the bank, I am encouraged that we will manage the current supply bottlenecks and reach a pro forma EBIT for the full year of between 7% and 10% of revenues.”
The company will publish its final financial results for Q2 2021 on July 22, 2021, as planned.
Use of pro forma financial information
ADVA provides consolidated pro forma financial results in this press release solely as supplemental financial information to help investors and the financial community make meaningful comparisons of ADVA’s operating results from one financial period to another. ADVA believes that these pro forma consolidated financial results are helpful because they exclude non-cash charges related to the stock option programs and amortization and impairment of goodwill and acquisition-related intangible assets, which are not reflective of the company’s operating results for the period presented. Additionally, expenses related to restructuring measures are not included. This pro forma information is not prepared in accordance with IFRS and should not be considered a substitute for the historical information presented in accordance with IFRS.
ADVA is a company founded on innovation and focused on helping our customers succeed. Our technology forms the building blocks of a shared digital future and empowers networks across the globe. We’re continually developing breakthrough hardware and software that leads the networking industry and creates new business opportunities. It’s these open connectivity solutions that enable our customers to deliver the cloud and mobile services that are vital to today’s society and for imagining new tomorrows. Together, we’re building a truly connected and sustainable future. For more information on how we can help you, please visit us at www.adva.com.
ADVA Optical Networking SE, Munich, Germany
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ipsen Strengthens Its Pre-clinical Oncology Pipeline With an Exclusive Worldwide-collaboration With BAKX Therapeutics Inc. for BKX-001, Targeting the Apoptosis Pathway27.7.2021 19:01:00 CEST | Press release
Regulatory News: Disclaimer: Intended for international media and investor audiences only Ipsen (Euronext: IPN; ADR: IPSEY) and BAKX Therapeutics Inc. have signed an exclusive worldwide-collaboration agreement to research, develop, manufacture and commercialize BKX-001 as a potential treatment for leukemia, lymphoma and solid tumors. Apoptosis is the naturally occurring process of programmed cell death. Deregulated apoptosis can lead to uncontrolled cell division and the development of a tumor.2 The apoptosis cell-signaling pathway has been proven to be a target for cancer therapy with the development and approval of BCL-2 inhibitors for the treatment of certain hematological malignancies.3 BAX is a novel target in this pathway that is downstream of all anti-apoptotic proteins like BCL-2, BCL-XL, MCL-1 etc.4 Direct activation of BAX has several possible outcomes as an investigational cancer therapy, potentially addressing multiple tumor types and the resistance encountered while target
Daikin Industries Becomes OCSiAl Shareholder27.7.2021 18:55:00 CEST | Press release
Japanese giant Daikin Industries, Ltd, has become a shareholder of the world’s largest producer of graphene nanotubes, OCSiAl, following three years of collaboration in developing graphene nanotube applications as a next-generation additive. Together, the companies are determined to develop high-performance materials and establish new markets. The signing of a share subscription agreement between Daikin Industries, a world-leading air conditioning company and a pioneer in fluorine technologies, and OCSiAl, the world’s largest producer of graphene nanotubes and related industrial solutions, was supported by prior joint developments and market evaluation. In accordance with the terms of the agreement, the valuation of OCSiAl is about USD $2 billion. Along with the subscription agreement, the two companies have signed a cooperation agreement to develop, produce, and market graphene nanotube solutions for next-generation Li-ion batteries and fluoropolymers, which comprise a substantial par
V.E, part of Moody’s ESG Solutions, provides Second Party Opinion on Colombia’s Sovereign Green Bond Framework and Inaugural Issuance27.7.2021 17:58:00 CEST | Press release
V.E, part of Moody’s ESG Solutions, published today a Second Party Opinion (SPO) on Colombia’s Sovereign Green Bond Framework and inaugural issuance. The SPO assesses four main components: the framework’s level of contribution to sustainability, its alignment with international standards, its coherence with Colombia’s strategic sustainability priorities, and Colombia’s environmental, social and governance (ESG) performance. “Proceeds from the green instruments issued under Colombia’s framework will provide a ‘robust’ contribution to sustainability, the second-highest level on our four-point scale,” said Adriana Cruz Felix, Head of Sustainable Finance Research at V.E. “The issuance will fund projects to protect biodiversity as well as build climate change resilience and adaptation, thereby reinforcing the capacity of Colombia’s institutions to address key environmental challenges.” In V.E’s opinion, the framework and portfolio of eligible expenditures are aligned with the four core comp
DYSIS Announces New Compact and Portable Colposcope Design with Computer-Aided Cervical Mapping27.7.2021 17:30:00 CEST | Press release
DYSIS Medical Inc. is excited to announce the launch of DYSIS® View, a compact and portable colposcope, which includes the company’s innovative computer-aided cervical mapping technology that helps healthcare professionals detect cervical lesions more clearly. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210727005846/en/ DYSIS View | Computer-Aided Colposcopy with Cervical Mapping (Photo: Business Wire) The DYSIS family of colposcopes include the novel DYSISmap, which is a color-coded summary of the acetowhitening effect of the patient’s cervix. Colors are allocated on the map depending on the acetowhitening changes measured by DYSIS during the examination. This data helps healthcare professionals improve biopsy selection. In the IMPROVE-COLPO study, when map-assisted biopsies were added to colposcopy exams, detection of patients with CIN2+ increased by 44%1. “We are thrilled to bring DYSIS View to market to complement our
Exchanger Industries Limited Acquires HRS Heat Exchangers27.7.2021 17:00:00 CEST | Press release
Exchanger Industries Limited (“EIL”), the Canadian market leader and globally recognized designer and manufacturer of heat transfer products for the energy, petrochemical, industrial and clean power generation sectors, has acquired HRS Heat Exchangers Ltd. ("HRS"). Financial terms were not disclosed. HRS is widely recognized as the pre-eminent, international specialist supplier of heat exchangers and custom process systems across the environmental, food, beverage, and pharmaceutical sectors. The seasoned HRS management team will be retained by EIL and play a critical role in executing plans for robust international expansion afforded by the strategic combination of two distinct, yet complementary industry leaders. “For decades, we’ve worked hard on behalf of our customers in Canada, the U.S. and 25 countries worldwide, consistently providing them with mission-critical, innovative solutions in some of the most demanding environments,” stated Mark el Baroudi, EIL’s CEO. “The HRS acquisit
Quanergy’s 3D LiDAR Helps Waste Incineration Plant Optimize Recycling Process and Reduce Environmental Impact in China27.7.2021 16:18:00 CEST | Press release
Quanergy Systems, Inc., a leading provider of OPA-based solid state LiDAR sensors and smart 3D solutions for automotive and IoT, today announced a new smart LiDAR deployment automating waste plant operations, to ensure process efficiency and minimize the environmental impact of a waste-to-energy incineration plant in China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210727005789/en/ Quanergy’s 3D LiDAR Helps Waste Incineration Plant Optimize Recycling Process and Reduce Environmental Impact in China (Graphic: Business Wire) Deployed in collaboration with Hunan University, one of China’s top engineering research universities, and Hunan Qiaokang Bridge Health Intelligent Technology for Puxiang Bioenergy, Quanergy’s high accuracy M-Series 3D LiDAR sensors were applied to scan the surface of the waste piles at the incineration plant and create a 3D point cloud image, to accurately calculate the volume of the waste. The LiDAR
Andersen Global Enhances Gambian Foothold with Payce Consulting27.7.2021 15:30:00 CEST | Press release
Andersen Global continues its Africa expansion with the addition of collaborating firm Payce Consulting, adding dimension to the organization’s existing presence in The Gambia. Payce Consulting, founded in 2014 by Partner Paul Gaye, serves the public and private sectors at the local and international level including financial institutions, education, industrial and commerce, transportation, fish processing and export, hotel and leisure, seaport, energy, agriculture, information technology and government agencies. The tax and advisory firm provides corporate finance, business advisory, business structuring and insolvency, outsourcing, financial services and portfolio management services to clients. “Our client-focused approach, extensive industry knowledge and commitment to best-in-class service have allowed us to develop and maintain strong client relationships,” Paul said. “Our collaboration with Andersen Global is the next step for our firm as we look to provide our clients with the