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PCB | February 15, 2007

Aspocomp makes €23 EUR loss in 2006

Aspocomp's net sales for 2006 ended EUR 148.9 million (EUR 135.4 million in 2005). Net sales grew by 10.0 percent and net sales of the Asian plants grew by 31.7 percent. Operating profit was EUR -23.3 million (-17.8).
The decline was mostly due to the ongoing conversion project at the Salo plant. Of this, EUR 3.0 million was attributable to the Salo downsizing in December. Operating profit of the Asian plants grew markedly.

Aspocomp's main priority in 2007 is to focus the company's resources on developing its market position and competitiveness, serving the main global customers, increasing cost-effectiveness as well as securing the near-term financing of the Aspocomp Group.

The full-year net sales of the Aspocomp Group are forecast to increase compared to the previous year. Profitability is expected to improve on 2006; however, the full-year result is anticipated to be clearly unprofitable and liquidity to remain weak.

Net sales of the Asian plants grew by 32 percent. In China, the HDI (high density interconnections) PCB volume production capacity was stepped up by about 50 percent from last year's average and was in full use throughout the year. The plant's net sales picked up considerably and profit more
than doubled. In contrast, profit of the small Thai plant waned during the latter half of the year due to a rise in material costs, prolonged technical problems and stock write-offs.

In 2007, production value for technologically complex HDI PCBs is forecast to amount to over EUR 4 billion globally. Market researchers expect global HDI PCB revenue to grow by about 8 percent annually between 2005 and 2010 and in Asia, the annual growth is forecast at almost 12 percent. By 2010, about 90 percent of the world's HDI PCB revenue will be generated in Asia, according to expectations.

Click here to read Aspocpomp's Financial Statement Bulletin.

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