Business Wire

TX-ADVA

Share
ADVA posts final Q2 2020 financial results

ADVA (ISIN: DE0005103006), a leading provider of open networking solutions for the delivery of cloud and mobile services, reported final financial results for Q2 2020 ended on June 30, 2020. The results have been prepared in accordance with International Financial Reporting Standards (IFRS).

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200722006006/en/

Q2 2020 financial summary1

(in thousands of EUR)

Q2

Q2

Change

Q1

Change

 

2020

2019

 

2020

 

 

Revenues

145,024

133,216

8.9%

132,686

9.3%

Pro forma gross profit

50,204

46,513

7.9%

42,275

18.8%

in % of revenues

34.6%

34.9%

-0.3pp

31.9%

2.7pp

Pro forma operating income

10,107

4,337

133.0%

-1,671

n.a.

in % of revenues

7.0%

3.3%

3.7pp

-1.3%

8.3pp

Operating income2

8,658

2,497

246.7%

-4,038

n.a.

Net income2

7,629

1,297

488.2%

-7,235

n.a.

 

(in thousands of EUR)

Jun. 30

Jun. 30

Change

Mar. 31

Change

2020

2019

2020

Cash and cash equivalents

67,586

48,275

40.0%

52,753

28.1%

Net debt

44,928

68,117

-34.0%

67,705

-33.6%

1 Potential differences due to rounding
2 Q1 2020 including EUR 0.8 million one-off expenses

Q2 2020 IFRS financial results

As already stated in the ad hoc announcement on 16 July, 2020, revenues for Q2 2020 increased by 9.3% to EUR 145.0 million from EUR 132.7 million in Q1 2020 and grew by 8.9% from EUR 133.2 million in the same year-ago period.

Pro forma operating income for Q2 2020 was EUR 10.1 million (7.0% of revenues), significantly up from EUR 1.7 million loss (-1.3% of revenues) in Q1 2020 and also up from EUR 4.3 million income (3.3% of revenues) in the same year-ago period. The significant increase in profitability is mainly due to the operational cost improvement measures introduced in 2019.

Consequently, operating income for Q2 2020 of EUR 8.7 million significantly increased from the EUR 4.0 million loss reported for Q1 2020 and also increased from EUR 2.5 million income in the same year-ago quarter.

Net income was EUR 7.6 million in Q2 2020 and overcompensated a net loss of EUR 7.2 million in Q1 2020 and also grew substantially from a net income of EUR 1.3 million in Q2 2019.

At quarter-end, the company’s cash and cash equivalents totaled at EUR 67.6 million, representing an increase of 28.1% compared to EUR 52.8 million at the end of Q1 2020 and a significant increase of 40.0% compared to EUR 48.3 million in Q2 2019.

Consequently, net debt in Q2 2020 decreased by EUR 22.7 million to EUR 45.0 million from EUR 67.7 million at the end of Q1 2020 and improved by EUR 23.2 million compared to Q2 2019.

Net working capital at quarter-end was EUR 127.9 million compared to EUR 134.2 million at the end of Q1 2020 and decreased despite increased revenues.

Management commentary

“Our results in the second quarter of 2020 were convincing. So far, the demand for our products and services has developed positively during the Covid-19 pandemic. A recession-related slowdown in the second half of the year is still possible, but, in the meantime, we believe that we will have further revenue growth in Q3,” said Brian Protiva, CEO, ADVA. “The pandemic has made our production and supply chains more complex and our transportation costs increased. But our ability to deliver is stable and fundamentally intact. Additionally, we have a global, well-diversified and loyal customer base with which we can expand and improve the digital infrastructure that our society is so increasingly dependent on.”

”Despite the ongoing Covid-19 pandemic, we managed to increase revenues and earnings in the second quarter, both sequentially and year over year,” commented Uli Dopfer, CFO, ADVA. “Our significantly improved profitability is mainly the result of the cost improvement measures that we introduced in 2019. Furthermore, we were able to improve our cash position compared to the first quarter by around EUR 15 million to EUR 67.6 million providing a solid financial basis. Due to the ongoing risks, both on the supply and on the demand side, we have concluded a KfW back-up facility of EUR 40 million for hedging purposes should a further Covid-19-driven crisis occur. With this preventive measure, we feel prepared for all scenarios.”

The company will publish its financial results for Q3 2020 on October 22, 2020.

Conference call details

ADVA will hold a conference call for analysts and investors today, July 23, 2020, to discuss these results and management’s outlook. The company’s CEO, Brian Protiva, and CFO, Uli Dopfer, will host the call at 3:00 p.m. CEST (9:00 a.m. EDT). A question and answer session will follow management presentations.

To participate, please register here . Once registered, you will receive the dial-in details via e-mail.

A corresponding presentation is available on ADVA’s website:

https://www.adva.com/en/about-us/investors/financial-results/conference-calls

The complete half-year report 2020 (January – June) is available as a PDF here:

https://www.adva.com/en/about-us/investors/financial-results/financial-statements

A replay of the call will be available here:

https://www.adva.com/en/about-us/investors/financial-results/conference-calls

Forward-looking statements

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.


About ADVA

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 .

Published by:

ADVA Optical Networking SE, Munich, Germany
www.adva.com

Social Media:

https://www.facebook.com/ADVAOpticalNetworking

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com

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

The Coca-Cola Company Names New Leader for Europe Operating Unit18.7.2025 21:00:00 CEST | Press release

The Coca-Cola Company today announced that Luisa Ortega will become president of the Europe operating unit effective Sept. 1, succeeding Nikos Koumettis, who will retire in 2026 after a 25-year career with the company. Koumettis will remain with the company through Feb. 28, 2026, as a senior advisor. He will also serve on the board of directors of Hindustan Coca-Cola Beverages Pvt. Ltd., a company-owned bottler in India. Ortega joined Coca-Cola in 2019 and currently serves as president of the Africa operating unit. In this role, she leads a complex business that operates across 54 markets. Koumettis has led the Europe operating unit since it was created in 2021. “Luisa has done an outstanding job leading our African business, where our system has continued to make major investments to serve growing markets on the continent,” said Henrique Braun, Executive Vice President and Chief Operating Officer of The Coca-Cola Company. “As head of Europe, she will bring great international experien

NFL Running Back Derrick Henry Joins Amazfit as Athlete Ambassador18.7.2025 15:00:00 CEST | Press release

Henry to utilize Amazfit products to optimize health, recovery and performance as he enters his 10th NFL season Amazfit, a leading global smart wearables brand owned by Zepp Health (NYSE: ZEPP), announced Baltimore Ravens running back Derrick Henry as the newest elite athlete to join its growing roster of ambassadors. Known for his rare combination of speed and strength, Henry will utilize Amazfit wearables to power every phase of his training, recovery and sleep as he prepares for his 10th NFL season. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250718322498/en/ Derrick Henry is the newest elite athlete to join Amazfit's growing roster of ambassadors. As one of the most prolific running backs of his generation, Henry has amassed an impressive array of accolades during his career, including NFL Offensive Player of the Year, two rushing titles, and five Pro Bowl selections. With Amazfit as his official smart wearable partne

Qualcomm Announces Quarterly Cash Dividend18.7.2025 15:00:00 CEST | Press release

Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.89 per common share, payable on September 25, 2025, to stockholders of record at the close of business on September 4, 2025. About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and unrivaled connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensin

MultiBank Group Confirms $MBG Token Listings on MEXC and Gate.io on TGE Day in Addition to MultiBank.io and Uniswap18.7.2025 14:34:00 CEST | Press release

MultiBank Group, the world’s largest & most regulated financial derivatives institution, is proud to announce that its highly anticipated $MBG Token will be listed on two new major global cryptocurrency exchanges — MEXC and Gate.io — on the day of its official Token Generation Event (TGE), July 22, 2025, in addition to MultiBank.io and Uniswap. The $MBG Token will go live on: MultiBank.ioGate.ioMEXCUniswap This new dual listing will allow millions of users across both exchanges to seamlessly access and trade $MBG using their existing accounts, ensuring immediate market participation at launch. The Token Generation Event (TGE) is now approaching following the successful completion of two pre-sale rounds, where MultiBank Group issued 7 million tokens in Round 1 and 3 million tokens in Round 2 — both of which sold out within minutes. Naser Taher, Chairman and Founder of MultiBank Group said “With $MBG, we’re introducing a utility token built to deliver real-world value, transparency, and

SLB Announces Second-Quarter 2025 Results18.7.2025 12:50:00 CEST | Press release

Revenue of $8.55 billion increased 1% sequentially and decreased 6% year on year GAAP EPS of $0.74 increased 28% sequentially and decreased 4% year on year EPS, excluding charges and credits, of $0.74 increased 3% sequentially and decreased 13% year on year Net income attributable to SLB of $1.01 billion increased 27% sequentially and decreased 9% year on year Adjusted EBITDA of $2.05 billion increased 2% sequentially and decreased 10% year on year Cash flow from operations was $1.14 billion and free cash flow was $622 million Board approved quarterly cash dividend of $0.285 per share SLB (NYSE: SLB) today announced results for the second-quarter 2025. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250716727689/en/ The exterior of the SLB headquarters in Houston, Texas. Second-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChangeJun. 30, 2025Mar. 31, 2025Jun. 30, 2024SequentialYear-on-yearReve

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
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye