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Electronics Production | October 22, 2010

Scanfil post good sales in Q3

The Group’s turnover for January - September was EUR 157.2 (149.2) million, up 5.3% year-on year.
Distribution of turnover based on the location of customers was as follows: Finland 31% (38%), rest of Europe 24% (21%), Asia 43% (40%), USA 1% (1%) and others 1% (1%). The Chinese subsidiaries’ sales accounted for 47 % (43 %) of the Group’s sales during the review period including deliveries to the Group's other plants.

Operating profit of the Group during the review period was EUR 11.2 (13.4) million, representing 7.1% (9.0%) of turnover. Operating profit includes a non-recurring property sales gain of EUR 2.5 million, recognised in the second quarter. Operating profit without the sales gain was EUR 8.7 million, representing 5.5% of turnover. Earnings for the review period amounted to EUR 9.3 (11.6) million.

The turnover of contract manufacturing operations amounted to EUR 157.2 (149.2) million in January-September. Operating profit for the review period was EUR 8.1 (12.9) million, or 5.1% (8.6%) of turnover. The result amounted to EUR 5.0 (8.1) million, or 3.2% (5.5%) of turnover. The development of profitability was still affected by the global problems faced by both the company and its customers in the availability of certain electronics components, which increased costs and limited sales to some degree. Also, rising raw material prices have increased costs.

Return on investment was 11.6% (20.7%), equity ratio was 39.3% (37.5%) and gearing 32.9% (-25.5%). The significant change in gearing is due to the return of capital to the parent company carried out in the autumn of 2009.

Turnover amounted to EUR 62.5 (49.6) million in July - September. Operating profit for the third quarter was EUR 3.3 (4.0) million, or 5.3% (8.0%) of turnover. Profit for the quarter was EUR 2.2 (1.8) million.

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