Aspocomp’s July–September demonstrates the company’s good operational performance and production reliability in a favorable market environment. Production ran without major disruptions during the period, which was reflected in the period’s figures; net sales increased by 20% to EUR 10.6 (8.8) million and the operating result to EUR 1.3 (0.3) million, amounting to 12.6% of net sales. Profitability was partially supported by the completion of low-margin orders from previous years during the second quarter of the year. In addition, the operating result was affected by non-recurring income of EUR 157 thousand related to a write-down made in 2022.
The defense industry became Aspocomp’s largest customer segment for the first time, accounting for 40% of total net sales. This is concrete proof that our strategy to focus growth on the defense, security, and aerospace markets is working as planned. Market demand remained strong in July–September. It was boosted in particular by the defense industry and growth of AI-driven demand in the semiconductor industry, which was also visible in incoming orders. Our order book rose to a new record and stood at EUR 30.6 million at the end of September. The order book already extends into the first half of 2028, significantly increasing and strengthening visibility. At the same time, the AI boom has extended delivery times for critical materials – such as special laminates, fiberglass, resins, and copper foil – and driven up raw material prices globally. We have prepared for this situation by maintaining close communication with our customers and by bringing forward orders even further. Thanks to the pricing mechanisms in our contracts, we are able to pass on cost increases to the prices of the vast majority of already existing orders, so the order book does not involve significant cost inflation risk. Extended material delivery times are reflected as increased net working capital.
The expansion investment at the Oulu plant is progressing as planned in terms of both schedule and budget. During the third quarter, we successfully commissioned five new production lines. Two of these addressed the bottlenecks that had caused production losses in previous years, thereby reducing the risk of operational disruptions. As part of our strategy to focus resources and capacity on the high-value-added defense and semiconductor sectors, we are scaling back automotive production projects and terminating related contracts, which will free up much-needed capacity for strategically key industries.
To strengthen the implementation of Aspocomp’s growth strategy, we appointed a new Chief Engineering and Technology Officer and a new Quality Director. These management-team-level appointments bring us critical expertise to meet the quality and technology requirements of a demanding market. The next six months will be a critical and extremely intensive installation and commissioning phase at the Oulu plant, during which we will focus entirely on ramping up the plant expansion. Additional costs
related to the implementation and limited volume will weigh on net sales and profitability in late 2026 and early 2027.
We expect our plant’s performance to recover and shift to a new growth trajectory in mid-2027, once the expansion is fully operational. Although we are facing a half-year that will be operationally demanding and temporarily subdued in terms of results, the company’s medium- and long-term outlook is good.
Espoo, October 28, 2026
Manu Skyttä