Aspocomp forecasts growth after challenging 2024

The company posted net sales of EUR 7.9 million in the fourth quarter, up 35% from the same period last year. The operating result also turned positive, reaching EUR 0.1 million, compared to a loss of EUR 1.8 million in Q4 2023.

Aspocomp’s order book soared with a 286% increase in the fourth quarter, totalling EUR 8.7 million, up from EUR 2.3 million a year earlier. This surge in orders contributed to a significant shift in the company’s outlook, with the order book at year-end totalling EUR 19.9 million – an increase of 90% compared to the previous year.

Despite the fourth-quarter gains, Aspocomp’s full-year performance in 2024 showed a decline in net sales, which dropped by 15% to EUR 27.6 million. The company also posted a full-year operating loss of EUR 4.0 million, compared to a smaller loss of EUR 1.7 million in 2023.

However, Aspocomp highlighted the positive developments in the second half of 2024, particularly in the semiconductor, security, defence, and aerospace segments. The company’s order book nearly doubled during this period, bolstered by strong demand for its products – leaving the company with an improved outlook for the new year.

Aspocomp’s President and CEO, Manu Skyttä, reflected on the company’s progress, saying that while 2024 was a challenging year, the second half saw significant improvements.

“The operating environment improved clearly in the second half of the year, as demand for our products turned to strong growth,” says Manu Skyttä in the company’s fiscal report. “Aspocomp’s order book almost doubled to EUR 20 million. The situation developed positively, especially in the Semiconductor Industry as well as in the Security, Defence and Aerospace customer segments.”

The CEO also attributed its positive Q4 performance to a substantial capacity expansion, which began in the third quarter.

“The significant capacity expansion initiated in the third quarter and the successful recruitment of production personnel made it possible for Aspocomp to pull its operating result into the black during the last quarter. The plant focused on improving and stabilizing production throughput towards the end of the year. Production volumes and invoicing rose to a good level due to strong demand in the Semiconductor Industry customer segment, and at the end of 2024, the plant’s production capacity utilization rate was at an excellent level.”

Looking ahead to 2025, Aspocomp is optimistic about the demand for its products, especially in the semiconductor market, where growth is expected due to large investments in artificial intelligence and data centres. The company also anticipates continued strong demand in the Security, Defence, and Aerospace sectors.

Aspocomp estimates that its net sales for 2025 will grow significantly from the 2024 level, and that its operating result for 2025 will turn clearly profitable.