Aspocomp keeps struggling

“Net sales decreased due to weaker demand from certain major customers and their cyclical buying behaviour. Sales to the five largest customers decreased by about EUR 5 million. Sales to other customers saw a year-on-year increase of 17 percent,” said CEO Mikko Montonen. During the review year, the highest net sales were seen in October-December, EUR 4.8 million, with a year-on-year increase of EUR 0.7 million. However, fourth-quarter net sales fell significantly short of expectations as demand and order intake slowed down sharply in December, the company writes in its fiscal report. In short, Aspocomp's full year net sales amounted to EUR 17.5 million, a year-on-year decrease of 17 percent. Net sales decreased due to weaker demand from a few major customers. Otherwise, sales and the expansion of the customer base developed positively, with sales increasing by 17 percent. The five largest customers accounted for 47 percent of net sales (63% 1-12/2014). In geographical terms, 93 percent of net sales were generated in Europe (89%), 5 percent in Asia (10%) and 2 percent in North America (1%). The operating result was EUR -1.2 million (EUR -2.0 million 1-12/2014) including non-recurring items. Operating result excluding non-recurring items was EUR -0.9 million (EUR -0.4 million 1-12/2014).