GPV Reports Q1 Revenue Up 9%
VEJLE, DENMARK – Electronics manufacturer GPV reported first quarter revenue of DKK 741 million (US$120.3 million), up 9% year-over-year.
EBITDA was DKK 76 million, an increase of 65.2% compared to the first quarter of 2020.
Semiconductor, cleantech and the instrument and industry segments lifted sales, with orders placed from both existing and new customers.
“It is positive we so far have weathered well through the global coronavirus pandemic,” said CEO Bo Lybæk. “Twelve months ago, the situation was marked by great uncertainty, and now we are able to present a record-breaking result for both 2020 overall and Q1 2021. Naturally, we are very pleased with the results. However, we still have substantial challenges to overcome. The rebound in the global economy has led to a significant growth in the demand for electronic components, which has put our procurement department under high pressure to secure delivery of materials. At the moment, we have a record-high order backlog, which is partly due to stronger demand from our customers and partly due to close communication with customers in order to secure deliveries at a longer horizon. The materials shortage is currently our single biggest challenge. We receive the materials late, often with partial and unprecise deliveries, which complicates on-time delivery to our customers. Everyone in the organization works hard to handle the situation as well as possible, and for that I am very grateful.”
GPV upgraded its full-year guidance to revenue of DKK 2.9 billion to DKK 3 billion.
Ed.: DKK 1 = US$0.16
