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SMT & Inspection | May 15, 2007

IPTE sales up 92% in Q1

IPTE posted sales of EUR 62.4 million in the first quarter of 2007 (Q1 2006: EUR 32.4 million). Operating profit nearly doubled to EUR 2.06 million (Q1 2006: EUR 1.12 million). Net profit grew 138% to EUR 1.25 million (QI 2006: EUR 528,000).
From 1 January 2007, group results include those of the PCB assembly activity acquired from Barco. Sales from this activity amounted to EUR 23.2 million in Q1 2007. On a like-to-like basis, sales grew by 20% (EUR 39.2 million –vs- EUR 32.4 million in Q1 2006). The order book rose from EUR 50.6 million at end-2006 to EUR 74.6 million at the end of Q1 2007.

Managing Director Huub Baren: “In the first quarter of 2007 sales by the Contract Manufacturing division grew both from internally generated growth and the acquisition of the PCB assembly activity to reach a record EUR 49.8 million (EUR 20.6 million in 2006).

EUR 23.2 million of these sales are from the PCB activity acquired from Barco. But even without these the contract manufacturing activity achieved impressive growth of 29.5%. The order book is up rom EUR 37.1 million at end-2006 year to EUR 59.2 million at the end of Q1 2007.
Prospects for Contract Manufacturing remain positive.

“Order inflow in the Automation division ran according to plan and remains above market. Thanks in part to our Chinese facility we expect the green light from a number of major international electronics companies to cooperate with us in the medium term. Sales in the Automation division rose from EUR 11.7 million to EUR 12.5 million (+6.8%). The order book rose from EUR 13.5 million at end-2006 to EUR 15.4 million at the end of Q1 2007. “We are very pleased at the development of our profitability. For Q2 we expect similar results."

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