Weaker quarter for Scanfil

The April-June turnover totalled EUR 52.8 million (Q2 2014: 60.6), down 12.9%. The operating profit was EUR 2.3 million (5.2), 4.3% (8.6%) of turnover, excluding non-recurring items EUR 3.0 million, 5.8% of turnover. Profit was EUR 1.7 million (4.3). Petteri Jokitalo, CEO of Scanfil plc: “The turnover for the first two quarters, especially the second quarter, fell short of the year before, as was expected. Reasons for this include the demand of one major customer which will, unlike earlier years, focus on the second half of the year. Volume deliveries to the customer in question are already about to commence and there are clear signs of a more general recovery in demand.” He also commented on the Partnertech-purchase: “By uniting our forces with PartnerTech, we will significantly expand our global customer base, plant network and service portfolio. The companies strategies are aligned and the purchase will provide us with access to the US market and allow us to expand into the extremely interesting Guangzhou technology hub area in China, among other things. We believe that the merger will rapidly benefit our customers, employees and shareholders. The takeover and integration process has already begun, and it will continue during the second half of the year. Our aim is to integrate the companies, realise the synergy benefits and improve the profitability of the purchased businesses to a sustainable level over the next two years. We will be a leading EMS contract manufacturer in the Nordic countries and a significant EMS company on a global scale. The combined turnover of the current businesses of the companies for 2014 amounted to approximately EUR 460 million, and the companies had about 3,000 employees.