Interim report October - December 2020
October-December
Net sales for the period decreased by 13.7% to EUR 43.4 (50.3) million. Organically, net sales decreased by 7.3%
During the quarter, the contract portfolio decreased as nine contracts were lost, two contracts were won, and one contract was renewed. Portfolio run rate annualized net sales at the end of the quarter was EUR 140.5 million, compared to EUR 165.4 million during the third quarter of 2020
Operating loss amounted to EUR -1.3 million, compared to a profit of EUR 0.8 million prior year
Adjusted EBITDA decreased to EUR 1.3 million from EUR 4.0 million prior year, excluding the effect of implementation of IFRS 16 Leases. Adjusted EBITDA for the quarter was negatively affected by one-off costs amounting to EUR -2.0 million relating to demobilizing a site in region Americas. In constant currencies, Adjusted EBITDA for the quarter was EUR 1.2 million. Adjusted EBITDA with IFRS 16 implementation was EUR 2.1 (5.0) million
Non-renewal of BHP maintenance contract
STOCKHOLM, Dec. 17, 2020 /PRNewswire/ After a public tender process, BHP has decided to not renew a maintenance contract in its Chilean Escondida mine which was originally entered with Quant in 2009. Quant will continue to manage the maintenance on the site until 28 February 2021 to ensure the completion of the current contract and a smooth handover of maintenance operations. The result and profitability of Quant in the fourth quarter of 2020 will be negatively affected by one-off costs relating to demobilizing the site for up to EUR 2 million. In its quarterly report for the fourth quarter of 2020, Quant will reduce its contract portfolio value with EUR 11.2 million.