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PCB | August 14, 2008

Aspocomp's net sales decreased in H1/08

The Finland based PCB manufacturer reported net sales of €19.4 million in H1/08 or a decrease of 12.1% compared to €22.1 million in H1/07.
"During the first quarter, Aspocomp forged ahead with the restructuring started up in late 2007 and risk management measures. The Group's structure has been streamlined; the subsidiaries in Oulu and Thailand operate independently. The number of staff in central functions has been reduced in line with the plans and CAD planning department (part of Oulu plant) will be closed by the end of the year”, reports Isto Hantila, President and CEO of Aspocomp.

The operations of the Oulu plant were profitable during the first half of the year and its operating profit was positive. The deep loss of the Thailand plant – reported earlier – was turned around during Q1/08. However, during Q2/08 operating profit was negative. The financial situation of the Thai company remains critical and the risk of a liquidity crisis is still very high.

During the reviewed period, Aspocomp's five largest customers were Continental Temic, Nokia Siemens Network, Sanmina SCI, Scanfil and Wabco, accounting for 56% of net sales.

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