© aspocomp PCB | May 03, 2019
Improved operating result for Aspocomp
The year started with an increase in net sales and operating profit for Finland-headquartered PCB manufacturer Aspocomp.
First-quarter (ended March 31, 2019) net sales amounted to EUR 7.6 (6.1) million, 24 percent on January-March 2018. As expected, sales were boosted by strong demand in the telecommunications network segment, with solutions based on new 5G technology as growth drivers, the company states in the latest fiscal report. The five largest customers accounted for 58 (45) percent of net sales. In geographical terms, 98 (96) percent of net sales were generated in Europe, 1 (2) percent in Asia and 1 (2) percent in North America. The operating result for the first quarter improved substantially and amounted to EUR 0.9 (0.3) million. First-quarter operating result was 11.3 (4.7) percent of net sales. The major factors behind the rise in profitability were the higher utilisation rate of the Oulu plant and the greater share accounted for by more technologically demanding products. The order book at the end of the review period was EUR 3.4 (3.0) million, representing a year-on-year increase of about EUR 0.4 million. During the review period, the company had an average of 118 (115) employees. The personnel count on March 31, 2019 was 118 (115). Of them, 73 (72) were blue-collar and 45 (43) white-collar employees. The company's full-year guidance remains unchanged. In 2019, net sales are expected to grow approximately 10 percent compared with 2018 and the operating result to be better than in 2018. In 2018, net sales amounted to EUR 29.1 million and the operating result to EUR 2.9 million. “The year started well with demand growing by nearly a quarter, i.e., by 24 percent year-on-year. We performed excellently, even as the entire PCB market contracted by more than two percent in the first quarter (Custer Consulting, April 2019). The strongest demand came, as expected, from the telecommunications network segment, with solutions based on new 5G technology as growth drivers. In other customer segments, growth was more modest in the first quarter”, CEO Mikko Montonen comments on the results.