Although 2024 was still a challenging year on the whole for Aspocomp, the operating environment improved clearly in the second half of the year as demand for the company’s products turned to strong growth. Aspocomp’s order book almost doubled to EUR 20 million. The situation developed positively, especially in the Semiconductor Industry as well as in the Security, Defence and Aerospace customer segments.
Aspocomp posted its best net sales of the year in the last quarter, EUR 7.9 million, as demand grew strongly in the Semiconductor Industry customer segment and demand also rose significantly in the Security, Defense and Aerospace customer segment. However, full-year 2024 net sales decreased by 15 percent and amounted to EUR 27.6 million.
The significant capacity expansion initiated in the third quarter and the successful recruitment of production personnel made it possible for Aspocomp to pull its operating result into the black during the last quarter. The plant focused on improving and stabilizing production throughput towards the end of the year. Production volumes and invoicing rose to a good level due to strong demand in the Semiconductor Industry customer segment, and at the end of 2024, the plant’s production capacity utilization rate was at an excellent level. From the perspective of the company’s financial position, it is significant that the substantial increase in capacity and production volumes was made without increasing the company’s net working capital. Our goal was to start 2025 in a good position in terms of demand, production volumes and profitability, and this goal was achieved. With the three-year agreement between Technology Industries of Finland and the Industrial Union, the outlook for delivery capacity in 2025 is good.
As the result for the financial year is a loss, Aspocomp’s Board of Directors proposes to the Annual General Meeting that no dividend be paid for the financial year 2024.
We expect demand for Aspocomp’s products to remain at a good level in 2025. In particular, demand in the semiconductor market is expected to remain high due to large investments in artificial intelligence applications and data centers. In the Security, Defense and Aerospace customer segment, we have gained new customers during 2024, and growth in demand is expected to continue in 2025 and remain strong in the long term.
Aspocomp estimates that its net sales for 2025 will grow significantly from the 2024 level, and that its operating result for 2025 will turn clearly profitable. In 2024, net sales amounted to EUR 27.6 million and the operating result was a loss of EUR 4.0 million.
I would like to express my warmest thanks to the company’s personnel for their valuable work and especially for their great efforts to improve the company’s production throughput towards the end of the year.
Espoo, February 26, 2025
Manu Skyttä