CEO’s review

The second quarter of the year went excellently. Net sales continued to grow strongly and rose 33 percent to EUR 9.6 million. Net sales for the first half of the year rose to EUR 18.6 million, a year-on-year increase of 39 percent.

Strong demand continued in the Semiconductor Industry customer segment, and its net sales tripled to EUR 4.2 million. The Telecommunication segment also saw brisk growth, up 50 percent, and its net sales reached EUR 1.5 million. The Industrial Electronics segment clearly slowed down and its net sales fell by 50 percent to EUR 1.0 million.

New orders valued at EUR 9.6 million were received and the order book increased to EUR 20.5 million. Growth in the order book was particularly supported by increased demand in the Semiconductor Industry customer segment. Of the order book, EUR 17.2 million has been scheduled for delivery this year and the remaining EUR 3.3 million next year.

The second-quarter operating result increased clearly to EUR 1.6 million, amounting to 17 percent of net sales. The improvement in operating result in the second quarter was mainly due to the increase in net sales and the improved product mix focusing on more technologically demanding PCBs. The operating result for the first half of the year amounted to EUR 2.4 million and the operating result percentage rose to 13 percent.

Russia’s war of aggression in Ukraine and the sanctions imposed on Russia have no direct impact on Aspocomp’s business. We reiterate the guidance for 2022 that was updated in July.

Espoo, July 20, 2022

Mikko Montonen, President and CEO