© anthony bolan Electronics Production | October 31, 2012

Scanfil: Situation in the EMS market is extremely uncertain

The Group’s turnover for January - September was EUR 140.1 million. Distribution of turnover based on the location of customers was as follows: Finland 43%, rest of Europe 18%, Asia 37%, USA 1% and the others 1%
“The situation in the contract manufacturing market is extremely uncertain, which is among other things due to the euro zone crisis. Because of the slowing down of the global economy, investments are reduced and postponed. Global economic growth is expected to be slow also in 2013." States Harri Takanen, CEO of Scanfil plc.

Operating profit for the Group during the review period was EUR 7.4 million, representing 5.3% of turnover. The operating profit includes EUR 0.5 million of non-recurring items recognised in the review period. Operating profit excluding non-recurring items was EUR 6.9 million, representing 4.9% of turnover. Earnings for the review period amounted to EUR 5.4 million. Earnings per share were EUR 0.09 and return on investment was 9.8%.

Turnover amounted to EUR 48.2 million in July-September and operating profit for the third quarter was EUR 2.8 million, or 5.7% of turnover. Profit for the quarter was EUR 1.7 million.

Scanfil estimates that its 2012 turnover will remain somewhat below the level of 2011 and that the 2012 operating profit will show a marked decrease compared with 2011 (Scanfil EMS Oy’s turnover for 2011 was EUR 210.8 million and operating profit EUR 9.1 million).

The new Scanfil plc was established in the demerger of Sievi Capital plc on 1 January 2012. In the demerger, Scanfil EMS Oy, engaged in contract manufacturing, transferred to Scanfil plc. Since year 2012 is the first operating year of the new company, Scanfil plc does not have comparison figures for previous financial periods.


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