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PCB | September 29, 2004

Aspocomp expect better result

The net sales of Aspocomp Group for the second half of the current year are expected to exceed the net sales for January-June, which stood at EUR 100.5 million.
The results for the second half of the year are expected to be slightly better than the figures for January-June, when the company's operating profit was EUR 6.5 million and the earnings per share were EUR 0.43.

"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.

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 strengthen and stabilize its 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 Maija-Liisa Friman.

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