Aspocomp stays in the red during 1Q

“The order intake started to decline rapidly at the end of last year, but we returned it to growth in February. Due to weak demand, first-quarter net sales amounted to only EUR 4.1 million, a year-on-year decrease of EUR 0.4 million. Very low sales in January pushed the first-quarter operating result EUR 0.4 million into the red. However, performance improved rapidly during the first quarter and the operating result turned positive in March as the order intake picked up and delivery volumes increased,” comments Aspocomp CEO Mikko Montonen. Aspocomp's five largest customers accounted for 51% of net sales (50% 1-3/2015). In geographical terms, 88% of net sales were generated in Europe (95%), 6% in Asia (3%) and 6% in North America (2%). “The company's order book is typically very short, only a few weeks, and is therefore exposed to rapid changes. We aim to systematically expand our customer base and customer segment in order to reduce fluctuations in overall demand,” Mr. Montonen continues. Aspocomp is keeping its full-year guidance unchanged. In 2016, net sales are expected to grow and the operating result to be in the black.