© stevanovicigor Electronics Production | February 21, 2017

Incap had everything on the plus side in 2016

Incap Group's revenue in 2016 increased by 26% and the operating profit grew by 19% year-on-year – the company also completed the construction work of the factory expansion in India during the year.
The Group's revenue amounted to EUR 38.6 million, up 26% year-on-year (2015: EUR 30.6 million). Operating profit (EBIT) amounted to EUR 4.4 million, increasing by 19% year-on-year (EUR 3.7 million). Net profit for the full year amounted to EUR 2.7 million, which is 36% higher than in 2015 (EUR 2.0 million).

Going into 2017 the company estimates that its revenue for the new year will be higher than in 2016 and that the operating profit (EBIT) will be somewhat higher than in 2016.

"Business of Incap continued its strong development in 2016 after the change of strategy and the growth leap seen in the previous year. Our operations model has now been stabilised offering a solid basis for further expansion of operations,” said Ville Vuori, President and CEO of Incap Group.

During the financial period 2016 the company's target was to gain new customers and new products to production, while at the same time securing a high level of operational efficiency and quality.

“Here we have succeeded. Our factories in Estonia and in India have developed their manufacturing capacity and enhanced their sales operation. The construction work of the factory expansion in India was completed on schedule and now we are ready to take new products into production. The increased interest of our customers augurs well for the continued good development,” Ville Vuori explains.

Incap’s investments in 2016 totalled EUR 1.0 million (EUR 0.9 million in 2015) and they were mainly connected with the construction of the factory expansion in India.

At the end of 2016, Incap Group had a payroll of 514 employees (468 in 2015). 85% (87%) of the personnel worked in India, 14% (13%) in Estonia and 0.4% (0.4%) in Finland.


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