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© aspocomp PCB | February 15, 2017

Aspocomp with net sales of EUR 6.6 million in 4Q/2016

In 2017, net sales are expected to grow approximately 10 percent and the operating result to be better than in 2016. In 2016, net sales amounted to EUR 21.6 million and the operating result was 3 percent of net sales.
Key figures 10-12/2016 in brief
  • Net sales: EUR 6.6 million (EUR 4.8 million 10-12/2015)
  • EBITDA: EUR 1.1 million (-0.1)
  • Operating result: EUR 0.8 million (-0.3)
  • Earnings per share: EUR 0.19 (-0.01)

Key figures 2016 in brief
  • Net sales: EUR 21.6 million (EUR 17.5 million 1-12/2015)
  • EBITDA: EUR 1.8 million (0.0)
  • Comparable operating result: EUR 0.7 million (-0.9)
  • Operating result: EUR 0.7 million (-1.2)
  • Earnings per share (EPS): EUR 0.16 (-0.16)
  • Operational cash flow: EUR 0.1 million (-0.1)
  • Order book at the end of period: EUR 2.4 million (0.7)

Net sales and earnings

October-December 2016: Fourth-quarter net sales amounted to EUR 6.6 million, a year-on-year increase of 39 percent. PCB demand generated by the development of the new generation of computer network systems picked up significantly towards the end of the year and was the main driver of growth in the fourth quarter.

The five largest customers accounted for 62 percent of net sales (49% 10-12/2015). In geographical terms, 97 percent of net sales were generated in Europe (93%), 3 percent in Asia (3%) and 1 percent in North America (4%).

The operating result for the fourth quarter amounted to EUR 0.8 million (EUR -0.3 million 10-12/2015). Fourth-quarter comparable operating result was 12 percent of the net sales. In the fourth quarter, deliveries focused mainly on higher value-added products, improving profitability significantly.

Net financial expenses for the fourth quarter amounted to EUR 0.0 million (EUR 0.0 million 10-12/2015). Earnings per share were EUR 0.19 (EUR -0.01).

Financial year 2016: Net sales amounted to EUR 21.6 million, a year-on-year increase of 24 percent. The needs of automotive industry customers remained firm throughout the year and the entire customer segment doubled its sales compared to the previous year.

The five largest customers accounted for 53 percent of net sales (47% 1-12/2015). In geographical terms, 93 percent of net sales were generated in Europe (93%), 5 percent in Asia (5%) and 2 percent in North America (2%).

Operating result amounted to EUR 0.7 million (EUR -1.2 million 1-12/2015). The comparable operating result was EUR 0.7 million (EUR -0.9 million 1-12/2015, excluding the Teuva plant's shutdown costs). Profitability improved in the second half of the year as revenue grew and deliveries focused on higher value-added products.

Net financial expenses amounted to EUR 0.1 million (EUR 0.1 million). Earnings per share were EUR 0.16 (EUR -0.16).

Outlook for the future

A major share of Aspocomp’s net sales is generated by quick-turn deliveries and R&D series, and thus the company’s order book is short. The company's aim is to systematically expand its services to cover the PCB needs of customers over the entire life cycle and thereby balance out variations in demand and the order book.

In 2017, net sales are expected to grow approximately 10 percent and the operating result to be better than in 2016. In 2016, net sales amounted to EUR 21.6 million and the operating result was 3 percent of net sales.

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December 13 2017 10:15 PM V8.9.2-1