Inside Information, profit warning: Aspocomp lowers its guidance for 2024
Aspocomp Group Plc, Inside Information, August 29, 2024, at 09:00 a.m. (Finnish time)
Aspocomp Group Plc lowers its financial guidance for the year 2024. Aspocomp now estimates that its net sales for 2024 will be below the 2023 level, and its operating result for 2024 will be clearly below the 2023 level. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million.
In its previous outlook for 2024 (released on March 14, 2024, and repeated on July 18, 2024), Aspocomp estimated that its net sales for 2024 would increase from 2023, and its operating result would improve from 2023. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million.
Reasoning for the updated financial guidance
The net sales and operating result guidance is lowered due to the delay in increasing the company’s production capacity and the weakening of demand for its PCB brokerage business. In addition to the decrease in net sales, the weakening of the operating result forecast is influenced by the ramp-up of production of new products and the continued emphasis of net sales on lower-margin customer segments.
In its Half-Year Report, Aspocomp announced that order intake had turned to growth in the Semiconductor customer segment. Positive development has continued in Aspocomp’s order book and growth prospects in the Semiconductor customer segment are still strong. As the order book recovered, in June Aspocomp ended the layoffs that had begun in January 2024 and in July started recruitment to increase capacity.
New outlook for 2024
Aspocomp estimates that its net sales for 2024 will be below the 2023 level, and its operating result for 2024 will be clearly below the 2023 level. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million.
Previous outlook for 2024 (released on March 14, 2024, and repeated on July 18, 2024)
Aspocomp estimated previously that its net sales for 2024 would increase from 2023, and its operating result would improve from 2023. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million.
Publication of Aspocomp’s Interim Report for January 1 – September 30, 2024
Aspocomp’s Interim Report for January 1 – September 30, 2024, will be released on Wednesday, October 30, 2024, at around 09:00 a.m. (Finnish time).
For further information, please contact Manu Skyttä, President and CEO,
tel. +358 400 999 822, manu.skytta(at)aspocomp.com.
ASPOCOMP GROUP PLC
Board of Directors
Aspocomp – heart of your technology
A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company’s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries.
Aspocomp’s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports.
Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland’s major technology hubs.
www.aspocomp.com
