Aspocomp Group Plc
ASPOCOMP LOWERS ITS NET SALES AND PROFIT FORECAST FOR 2015
Espoo, Finland, 2015-08-13 13:00 CEST (GLOBE NEWSWIRE) —
Aspocomp Group Plc, Company Announcement, August 13, 2015 at 2:00 p.m.
Aspocomp lowers its net sales and profit forecast for 2015 because demand from its three major customers was clearly weaker than expected, with a year-on-year decline of EUR 4.5 million in deliveries. The other customers’ level of demand has evolved according to the strategy and increased by about 30 percent (EUR 1.3 million) compared to the reference period. According to the new forecast, net sales in 2015 are expected to be between EUR 18 and 20 million and operating result excluding non-recurring items between EUR -0.7 and 0.5 million.
The expansion of the customer base has also developed as planned. Our goal is to build up a clearly broader customer base over the current and the coming year so that individual customers’ demand variations and cycles will not have such a strong impact on the company’s net sales and operating result.
Sales are not expected to increase until the fourth quarter, as deliveries to major customers are expected to grow and return back to normal from September onwards.
According to advance information, Aspocomp’s net sales in the January-June period amounted to EUR 8.9 million and operating result excluding non-recurring items to EUR –0.2 million. The company will record additional non-recurring expenses of approximately EUR 0.2 million on the closure of the Teuva plant; the previous EUR 1.5 million reserve was exceeded by approximately EUR 0.2 million, mainly as regards employee termination expenses. The operating result for the review period was approximately EUR 0.4 million in the red.
In its previous outlook (Interim Report on April 28, 2015) Aspocomp estimated that its net sales in 2015 would be between EUR 20 and 25 million and operating profit excluding non-recurring items between EUR 0.0 and 2.0 million.
Aspocomp’s Interim Report for the period January 1 – June 30, 2015 will be released on August 20, 2015.
For further information, please contact Mikko Montonen, CEO,
tel. +358 20 775 6860, mikko.montonen(at)aspocomp.com.
ASPOCOMP GROUP PLC
Nasdaq OMX Helsinki Ltd
Aspocomp – PCB technology company
Aspocomp develops and sells PCB manufacturing services, focusing on the end-to-end fulfillment of customers’ PCB needs. Our seasoned professionals help customers to create the most optimal PCB designs, both in terms of performance and cost. Our trimmed production lines produce the most challenging designs with the shortest lead-times in the industry. Operating as a service business, we provide one-stop access to technology solutions and competitive products for all PCB technologies.
A printed circuit board (PCB) is the principal interconnection method in electronic devices. PCBs are used for electrical interconnection and as a component assembly platform in most electronic applications. Aspocomp’s PCBs are used in many applications, such as telecommunication networks and devices, automotive electronics, security and medical systems, chipset development and industrial automation.