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© roza-dreamstime.com Electronics Production | October 31, 2013

42% revenue drop for Incap

Finnish Incap's revenue dropped 42% YoY during the first nine months of the year, revenues landed on EUR 28.7 million compared to 49.6 million for the corresponding period last year.
"Incap has been fighting head wind for quite some time now. The financial reconstruction achieved during the summer was the first step towards getting to a normalised situation. I wish to thank all our shareholders, financiers, material suppliers and other cooperation partners for their valuable support and contribution in the financing arrangement,” said Fredrik Berghel, President and CEO .

January-September 2013 in brief:

the Group's revenue was EUR 28.7 million, down approximately 42% year-on-year (Jan-September 2012: EUR 49.6 million) due to the transfer of material purchases to customers and decreased manufacturing volumes especially in the factory in Estonia.

Following the decrease in revenue, the operating result (EBIT) declined year-on-year and was EUR -2.2 million (EUR -0.05 million).

Comprehensive financing arrangements improved the financial position whereby the equity ratio rose to 23.9% and gearing improved to 159%.

July-September 2013 in brief:

revenue for the third quarter amounted to EUR 8.2 million, down approximately 17% from the second quarter and approximately 48% year-on-year (July-September 2012: EUR 15.7 million)

The operating result (EBIT) for the third quarter improved compared with the first and the second quarters but remained negative at EUR -0.3 million (July-September 2012: EUR 0.3 million).

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