Strong operating margin for Scanfil during Q3

EMS provider Scanfil recorded a turnover of EUR 130.8 million, and increase of about 7% from EUR 121.7 million during Q3 2016. Operating profit ended up at EUR 8.5 million, a YoY increase of 12% from EUR 7,6 million. Profit was EUR 5,2 million, a decrease from EUR 6,5 million during Q3 2016. “I am very happy about the achieved sales growth as well as the positive development of profitability during the third quarter. Compared to previous year we grew 7% and reached 6.5% operating profit which exceeded our this year’s targeted 6%. Return on equity was 18.3%,” said Petteri Jokitalo, CEO of Scanfil. He continues; “We have been able to increase our operating profit every quarter of the year significantly. This has been possible due to positively developed customer demand and particularly strong growth in new customer sales. The benefits from the optimization of the factory network can be seen, even though it is clear that we still need to improve our operational performance, especially in Myslowice, Poland and Sievi, Finland.” The Group’s turnover for January - September was EUR 385.5 million (EUR 385.7 million for the same period last year). The Group's operating profit for January – September was EUR 21.7 million (a steep increase from EUR 4.4 million during the same period last year). The operating profit for the previous year includes adjustments total of EUR 13.2 million, consisting of the costs of the reorganisation, sale and closure of poorly profitable units of PartnerTech AB's plant network and the Metal Precision business acquired in the year 2015. Operating profit grew 23.3% compared to the adjusted operating profit of the corresponding period of the previous year.