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© fouquin-christophe-dreamstime.com PCB | February 27, 2013

Aspocomp: 'We are not quite happy.'

PCB manufacturer Aspocomp managed to land on a positive - but just barely. Operating profit for the full year landed on EUR 0.6 million, a disappointing result in contrast to last years 4.1 million.
Key figures for 2012 in brief
  • Net sales: EUR 23.4 million (EUR 23.6 million 2011)
  • Operating profit (EBIT): EUR 0.6 million (4.1)
  • Cash flow from operations: EUR 1.2 million (4.0)

Key figures for Q4 2012 in brief
  • Net sales: EUR 4.9 million (EUR 5.8 million Q4 2011)
  • Operating profit (EBIT): EUR -0.5 million (1.2)

CEO Sami Holopainen, commented:
“2012 started reasonably well, but ended in disappointment. In spite of the acquisition of the Teuva plant, our net sales remained on a par with the previous year. The second plant increased our indirect costs, depressing profit to EUR 0.6 million, or three percent of net sales. Cash flow from operations was clearly in the black, around EUR 1.2 million.

After the first quarter of 2012, the market situation was difficult, both in Europe and globally. The value of PCB production declined in all regions. Estimates of the decline in Europe range from eight to ten percent. The number of manufacturers in Europe has also continued to decline, but average net sales of under EUR 8 million per manufacturer is an unsustainable state of affairs, considering the investment needs in the industry.

Although there have been signs of a recovery from time to time, the short-term market outlook remains difficult. However, we strongly believe that our expertise and ability to invest in new technology will see us through this tough period, and that in the future Aspocomp will thrive in the thinning ranks of European PCB manufacturers.”

Outlook:
Net sales in 2013 are expected to amount to EUR 24-28 million and operating result to EUR 0.7-1.9 million. The company aims to reach net sales of EUR 40 million in 2016.

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