ASPOCOMP GROUP OYJ STOCK EXCHANGE RELEASE Sept 29, 2004 at 8:00 AM 1(3)
JULY-SEPTEMBER RESULTS SLIGHTLY BETTER THAN APRIL-JUNEarkets Day, Aspocomp will discuss the company’s
strategic long-term objectives.
“The minimum targets set by the company’s Board of Directors for the
balance sheet structure are an equity ratio of at least 40% and a
gearing ratio not exceeding 100%. Within this framework, the company’s
currently strong balance sheet and cash flow from operations allow
investments to be made to achieve significant growth in the long term,”
says CEO Maija-Liisa Friman.
PCBs and Modules will be Aspocomp’s core businesses in the future.
The increase in demand for PCBs supplied to the mobile phone,
telecommunications and automobile industries is expected to
significantly exceed the general growth in the industry, and Aspocomp is
working to further strengthen and stabilize its good position as a
supplier of PCBs to these industries. Aspocomp is concentrating on these
rapidly growing segments and working on further increasing its market
share in them.
Another one of Aspocomp’s core business areas is modules, the
expectations of good growth for which are based on both an increase in
existing applications and the fact that the company’s new module
technologies under development are expected to provide an opportunity to
respond to an increasing portion of the needs of the value chain in
electronics manufacturing. The new generation module business is still
in development phase. A decision on investments in production facilities
will be made once the technology has matured enough to be deployed in
mass manufacturing processes.
“The growth in the demand for PCBs supplied to the mobile phone,
telecommunications and automobile industries during the next five years
is expected to be slightly less than 10% annually. Our strong balance
sheet and cash flow allow significant growth and development projects
for our core businesses that are aimed at a growth that is clearly above
the market average while adhering to our balance sheet targets and
maintaining a sufficiently solid financial position. Growth will,
however, be considerably slower next year due to the high utilization
rate of our current production capacity. This year, especially in the
Mechanics and Modules business we have experienced exceptionally high
utilization rates, and we expect them to be lower next year,” says CEO
For further information, please contact CEO Maija-Liisa Friman,
tel. +358 9 7597 0711.
ASPOCOMP GROUP OYJ
President and CEO
ASPOCOMP IN BRIEF
The Aspocomp Group serves the electronics industry by supplying
high-tech electronic components and services such as PCBs (printed
circuit boards), and PCB-related designs as well as mechanics and
modules. Aspocomp’s products are used in the electronics industry,
mobile handsets, telecommunications infrastructure, automotive and
other industrial applications. The Aspocomp Group’s production
facilities are located in Finland, China and Thailand. In 2003,
Group net sales were EUR 180 million approximately, and the Group
had some 3,300 employees. The parent company, Aspocomp Group Oyj,
has been listed on the Helsinki Exchanges since 1999.
The Helsinki Exchanges