© Incap Electronics Production | February 27, 2020
Incap's 2019 revenues climbed 20%
The Finnish EMS provider is entering its fiscal year 2020 on the back of a solid performance during 2019.
Incap’s full year revenues amounted to EUR 71.0 million, up 20.5% year-on-year from EUR 59.0 million. Operating profit (EBIT) amounted to EUR 10.1 million, which is an increase from last years EUR 8.6 million. Net profit for the financial year amounted to EUR 6.3 million, up from EUR 5.8 million during 2018. After the reporting period on 23 January 2020, Incap announced that it was acquiring AWS Electronics Group. With the addition of AWS, Incap will gain access to production sites in the U.K. and Slovakia; not to mention the fact that AWS reported net sales of GBP 35 million in their latest financial year ending 30th of June 2019. Incap estimates that following the acquisition of AWS Electronics Group, Incap’s revenue in 2020 will be significantly higher than in 2019 and operating profit (EBIT) slightly higher than in 2019 as there will be one-time integration and transaction costs. “We face this year with confidence. Following our acquisition of AWS Electronics Group, Incap is now not only a larger company but it also has a much more diverse customer portfolio than previously. Incap also gained a foothold in geographically new market areas such as the U.K. and Central Europe. I am happy to see the personnel of AWS Electronics Group stepping onboard with enthusiasm in building a stronger player in electronics manufacturing services. Together, we continue serving our customers in the best possible way,” says Otto Pukk, President and CEO of Incap Corporation, in the company’s fiscal report.