Advanced and specialty metals and material provider Tekna has forecasted a strong order book for its business in the second half of the year propelled by positive indicators in the market.
The Canadian-Nordic company’s chief executive officer Luc Dionne said in the company’s earnings statement on Aug 19 that the average order size for specialty materials was increasing as these products expanded into new industries such as consumer electronics and electric vehicles.
These new industries will drive the demand, Dionne said, for Tekna’s nano-sized nickel powders and silicon. He added that these factors have helped Tekna revise its revenue forecast to around C$22mn ($17.4mn) by the end of 2021 against a C$13mn revenue in the previous year.
The company also plans to expand its capacity across its powders businesses through a C$16mn investment and will soon commission a new additive manufacturing powder atomizer at its plant in France for the aerospace and automotive industries.
In Q2 2021, Tekna’s revenue increased to C$7.4mn from C$3.6mn in the previous year, with its material sales doubling and its systems business rising by 75pc during the quarter under comparison. Still, Tekna posted an EBITDA loss of C$1.1mn compared to a loss of C$200,000 during the same time frame.
($1=C$1.26)