© scanfil Electronics Production | February 19, 2018
Scanfil reached all its targets in 2017
EMS provider Scanfil ended its fiscal year with a strong fourth quarter; turnover, operating profit and profit all showed growth.
The company’s turnover during the years last quarter amounted to EUR 144.4 million, up 18.1% from EUR 122.3 million during the fourth quarter 2016. Operating profit ended up at EUR 9.6 million during 4Q17, up from EUR 2.8 million for the same period last year. Fourth quarter 2017 profit was EUR 10.5 million, compared to EUR 1.3 for the corresponding period 2016. For the full year the company recorded a turnover of EUR 529.9 million, up from EUR 508 million in 2016. Scanfil’s operating profit for 2017 was EUR 31.3 million, up from EUR 7,2 million in 2016 and representing 5.9% (1.4%) of the turnover. Worth mentioning is that the operating profit for the previous year includes adjustments of a total of EUR 15.1 million, which are made up by 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 40.2% compared to the adjusted operating profit of the corresponding period of the previous year. Operating profit without adjustments in 2016 was EUR 22.3 million, 4.4% of turnover. The net profit for the review period was EUR 25.8 (0.1) million. The net profit for the comparison period without adjustments was EUR 15.7 million. “The year ended with a strong fourth quarter. Excellent customer demand ensured the growth of the turnover with 18 % from the previous year with 6.6 % operating profit. During the whole year 2017, we went firmly forward; turnover grew 4.3 % and reported operating profit 31.3 million euro more than quadrupled compared to 2016. We managed to reach our targeted about 6% operating profit level for the whole year. Net cash flow from operating activities increased by 29% and return on equity was 22.2%,” commented CEO, Petteri Jokitalo, in the fiscal report. “We made headway in the implementation of our strategy. The optimization of the factory network was completed already in the first half of the year which now can be seen in lower cost structure and cost-benefits. Our investments were record-high; the extension of the electronics factory in Sieradz was completed in December, and our integration factory in Atlanta moved to a bigger facility during the summer. In practice, we doubled our space in both of these factories,” Jokitalo continues. During the year the company also made investments to keep growing. Scanfil added new SMT-lines in its factories in Suzhou, Sieradz and Malmö. And according to the company, the Investments were based on already visible customer demand.
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