Aspocomp returns to profit in 2025

For the full year, net sales reached EUR 38.2 million, up from EUR 27.6 million in 2024. The company’s operating result turned positive at EUR 0.9 million, compared with an operating loss of EUR 4.0 million the previous year.

According to the company, the improved performance was supported by strong demand in the semiconductor industry and the security, defence and aerospace segment, as well as higher utilisation of production capacity and operational efficiency measures introduced at the end of 2024.

Manu Skyttä, President and CEO, said the company achieved a “significant operational turnaround” during the year. The Oulu manufacturing facility recorded its highest delivery volumes to date, which contributed to the return to profitability.

However, profitability in the fourth quarter was affected by production disruptions. An equipment failure at the Oulu plant reduced production throughput, resulting in an operating loss of EUR 0.4 million for the October–December period. The result was also weighed down by low-margin orders agreed in 2024 that will continue to be delivered until the second quarter of 2026.

Semiconductor and defence segments drive growth

Aspocomp says that demand remained particularly strong in the semiconductor industry segment, where annual net sales more than doubled to EUR 17.5 million from EUR 8.5 million in 2024. The company attributed the growth largely to investments linked to AI applications.

The security, defence and aerospace segment also saw strong development, with net sales rising 44% year-on-year to EUR 9.3 million.

By contrast, the automotive segment remained largely unchanged at EUR 6.9 million, while the telecommunications segment declined slightly to EUR 2.3 million. Industrial electronics revenue fell more sharply, dropping 34% to EUR 2.1 million amid weaker end-market demand.

European PCB demand turning upward

According to Skyttä, the company sees broader structural changes in the market environment.

For the first time in the 2000s, demand for European PCB manufacturing is showing signs of growth, driven by increased focus on regional self-sufficiency and security of supply. At the same time, consolidation and difficulties among smaller manufacturers are reducing production capacity in Europe.

To address expected demand growth, Aspocomp has launched an investment programme exceeding EUR 10 million at its Oulu facility. The programme aims to increase production capacity, improve quality and reduce the risk of equipment failures. The new capacity is expected to be introduced in phases starting in 2027.

Outlook for 2026

Looking ahead, Aspocomp expects demand for its products to remain solid in 2026, particularly in the defence and semiconductor markets. The company forecasts that both net sales and operating profit will improve compared with 2025.