ADVA achieves record profitability with preliminary Q4 2020 financial results
ADVA (FSE: ADV) today announced that in preparation for its 2020 annual report, the preliminary figures of the fourth quarter and the financial year 2020 deviate significantly from both the previous year’s figures and the available financial analyst estimates. For this reason, ADVA has published the following preliminary financial results for the fourth quarter of 2020 and the fiscal year 2020.
Preliminary results for Q4 2020
- Preliminary revenues were EUR 140.6 million and down by 7.0% from the year-ago quarter (Q4 2019: EUR 151.1 million)
- 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%)
Any potential differences in the above figures are due to rounding.
As a result of this development, revenues were at the lower end of the guidance corridor of EUR 565 to 580 million and the pro forma operating income margin at the top end of the guidance corridor of 5% to 6%.
The main drivers for the deviations in revenues and profitability from analysts’ expectations are the highly depreciated US dollar compared to the euro and Covid-19-related revenue shifts in Q4.
For the fiscal year 2021, the management expects revenues between EUR 580 and EUR 610 million and a pro forma operating income margin between 6% and 9%.
“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.”
The information is based on preliminary and unaudited group figures. The company will publish its final financial results for Q4 and the full fiscal year 2020 on February 25, 2021, as planned.
The economic projections and forward-looking statements contained in this document relate to future facts. Such projections and forward-looking statements are subject to risks that cannot be foreseen and that are beyond the control of ADVA. ADVA is therefore not in a position to make any representation as to the accuracy of economic projections and forward-looking statements or their impact on the financial situation of ADVA or the market in the shares of ADVA.
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
About Business Wire
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
EIG Signs $12.4 Billion Infrastructure Deal with Aramco9.4.2021 22:30:00 CEST | Press release
EIG, a leading institutional investor to the global energy sector and one of the world’s leading infrastructure investors, today announced that it has entered into a lease and lease-back agreement with Saudi Arabian Oil Co. ("Aramco"), under which a consortium of investors led by EIG will acquire a 49% equity stake in Aramco Oil Pipelines Company (“Aramco Oil Pipelines”), a newly formed entity with rights to 25-years of tariff payments for oil transported through Aramco’s stabilized crude oil pipeline network. The transaction is valued at approximately $12.4 billion with Aramco holding the remaining 51% stake in the new entity, indicating a total equity value of Aramco Oil Pipelines of approximately $25.3 billion. The pipeline network, which includes all of Aramco’s existing and future stabilized crude pipelines in the Kingdom of Saudi Arabia, connects oilfields to downstream networks. The pipeline network transports 100% of Aramco’s crude oil produced in the Kingdom under its Concessi
Atos, Dassault Systèmes, Groupe Renault, STMicroelectronics and Thales Join Forces to Create the ‘Software République’: a New Open Ecosystem for Intelligent and Sustainable Mobility9.4.2021 14:45:00 CEST | Press release
Elie Girard, Bernard Charlès, Luca de Meo, Jean-Marc Chery and Patrice Caine, respectively the chief executives of Atos, Dassault Systèmes, Groupe Renault, STMicroelectronics and Thales today announced their intention to join forces to create the Software République, a new ecosystem for innovation in intelligent mobility. By pooling their complementary expertise, the partners plan to develop and market together systems and software to provide an enriched and sustainable mobility offer for cities, regions, businesses and citizens. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210409005248/en/ Photo: SOFTWARE RÉPUBLIQUE Artificial intelligence, cybersecurity, connectivity, embedded electronics, and virtual twin technology will contribute to the excellence of these new products and services. This open innovation ecosystem, founded by five leaders in the automotive and technology fields, will welcome new members and develop ope
BIAL Launches New Support Platform to Inspire People With Parkinson’s Disease to Stay Active9.4.2021 14:31:00 CEST | Press release
NOT FOR UK MEDIA DISTRIBUTION BIAL has developed a new resource centre on its Keep It ON website for World Parkinson’s Day 2021 to empower people living with Parkinson’s disease to stay healthy and active and to help them manage their condition. Working in partnership with the European Parkinson's Disease Association (EPDA) as well as experts in nutrition, voice and cognition, BIAL plans to create a wealth of resources covering four key areas: Nutrition: Nutritionist Diana Miranda explains in her videos the importance of keeping hydrated and gives tips on managing common symptoms in Parkinson’s disease such as constipation. The page also features videos from chef Fábio Bernardino discussing recommended recipes for people with the condition. Exercise: Videos of physiotherapist Josefa Domingos from the EPDA demonstrate challenging and engaging exercises for people with Parkinson’s disease to do at home. Voice: Voice exercises by Speech Therapist Rita Cardoso are included to help improve
Comment by the Chair of Toshiba’s Board on the Acquisition Proposal9.4.2021 08:49:00 CEST | Press release
Osamu Nagayama, Chairperson of the Board of Directors of Toshiba Corporation (TOKYO:6502) has commented on the acquisition proposal from CVC Capital Partners as below. As announced in the public statement dated April 7th, Toshiba has received a preliminary and non-legally binding initial proposal from CVC Capital Partners (CVC) regarding the acquisition of Toshiba and to get the same privatized. This initial proposal by CVC was completely unsolicited and not initiated by Toshiba by all means. The proposal does not go through detailed review of Toshiba business. Further, CVC’s initial proposal is conditional on a variety of matters such as clearances of the Anti-trust registrations of the relevant jurisdictions, the Foreign Exchange and Foreign Trade Act of Japan and necessary financing. Furthermore, the proposed transaction is not contemplated to be financed by CVC alone; rather, it is indicated in CVC’s proposal that it would seek financing assistance from certain co-investors and fin
Exscientia Announces First AI-Designed Immuno-Oncology Drug to Enter Clinical Trials9.4.2021 07:30:00 CEST | Press release
Exscientia, a leading artificial intelligence (AI)-driven pharmatech company, today announced the first AI-designed molecule for immuno-oncology to enter human clinical trials. The A2a receptor antagonist, which is in development for adult patients with advanced solid tumours, was co-invented and developed through a Joint Venture between Exscientia and Evotec, including application of Exscientia’s next generation 3-D evolutionary AI-design platform as part of Centaur Chemist®. The drug candidate has potential for best-in-class characteristics, with high selectivity for the target receptor, bringing together potential benefits of reduced systemic sides effects as well as minimal brain exposure to avoid undesired psychological side effects. Preclinical data related to this project will be presented at the American Association for Cancer Research (AACR) annual meeting to be held 9-14 April, 2021. With this announcement, the company’s AI technologies and drug-hunting expertise are now resp
Northern Data sells Texas data center operations to Riot Blockchain Inc. for approximately EUR 550 million - operational EBITDA guidance for fiscal year 2021 remains unchanged8.4.2021 15:16:00 CEST | Press release
Northern Data AG (XETRA: NB2, ISIN: DE000A0SMU87), a leading developer and operator of High-Performance-Computing ("HPC") infrastructure solutions, sells its U.S. subsidiary Whinstone Inc., which operates a high-performance data center facility based in Rockdale, Texas, to Riot Blockchain Inc. (NASDAQ: "RIOT"), one of the largest U.S. based publicly-traded bitcoin miners in North America. The consideration in the transaction consists of EUR 67 million in cash component (cash and debt-free) and 11.8 million shares of common stock of Riot Blockchain Inc., which, based on the Riot Blockchain Inc. last closing share price (record date April 7, 2021: USD 48.37), corresponds to a total value of EUR 481 million. Consequently, the total volume of the transaction amounts to approximately EUR 548 million. Upon closing of the transaction, Northern Data AG will own approximately 12% of the total outstanding common stock of Riot Blockchain Inc. Northern Data AG pursues a multi-site strategy with st
Skyhook to Provide Enhanced Location Services for Microsoft Products and Services8.4.2021 15:00:00 CEST | Press release
Skyhook announces that it has entered into a strategic collaboration agreement with Microsoft. Under the agreement, Skyhook’s Precision Location solutions will now be utilized by Microsoft to augment and improve the delivery of geolocation services to Microsoft products and services. Skyhook offers a global hybrid positioning service called the Precision Location solution that combines Wi-Fi, cell, GPS, IP address and other location information to provide accurate, available and efficient location positioning services around the world. The deal enables Microsoft to use Skyhook’s solution to provide customers with accurate and user-controlled location-based experiences in Microsoft products and services. Leveraging Skyhook’s Precision Location services will provide Microsoft with network-based Wi-Fi and Cellular positioning. “Skyhook’s Precision Location solution is a leading independent positioning service,” said Craig Waggy, CEO, Skyhook. “We are proud to support Microsoft through the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom