© Aspocomp PCB | March 10, 2020
Aspocomp delivers a YoY revenue increase in 2019
Despite the lacklustre performance of the fourth quarter of 2019, the Finnish PCB manufacturer ended the full year with signs of growth on all lines.
While the company’s net sales for the final quarter of the year amounted to EUR 8.2 million, down 4% from EUR 8.5 million during the same period 2018, the net sales for the full year climbed 7% from EUR 29.1 million in 2018 to EUR 31.2 million for 2019. The largest customer segment remained the telecommunications segment, which grew by almost 20% compared to the previous year. The company says that the sales in the fourth quarter did not reach the level of the previous year due to a very strong comparison period and the timing of customer development needs. In the Semiconductor segment, sales grew by almost 60%. Multi-year development investments and newly acquired technology capabilities supported the segment's positive development. “Our growth remained strong for the fourth year in a row. Net sales for 2019 were 7 percent higher compared to the last year’s reference period. Our growth clearly exceeded the total PCB market growth, which is estimated to have been below 1 percent,” says CEO Mikko Montonen in the report while referring to an analysis by Custer Consulting. The full-year operating result amounted to EUR 3.4 million, compared to EUR 2.9 million. Operating result saw a year-on-year increase of 18%. The order book at the end of period ended on EUR 4.4 million. “The operating result for the year rose to EUR 3.4 million. Operating result was 11 percent of net sales. In the fourth quarter, the operating result was clearly down from the strong comparison period at EUR 0.7 million. The decline in operating profit was mainly due to the slowdown in demand for product development during the last quarter. The result was also burdened by increasing R&D investments in new products,” Montonen continues. Aspocomp estimates that its net sales and operating result for 2020 will be at the same level as in 2019. In 2019, net sales amounted to EUR 31.2 million and the operating result to EUR 3.4 million The impact of COVID-19 The company says that the outbreak of the coronavirus epidemic will affect the availability and delivery times of the circuit boards purchased by Aspocomp from China. The epidemic is also having a profound impact on the supply chains of the electronics industry and on customer orders. Due to this situation, the outlook for 2020 involves a significantly higher risk than normal. “The coronavirus epidemic that began in China is strongly affecting the supply chain of the entire electronics industry. This undermines our ability to assess net sales development, especially during the first half of 2020,” Montonen concludes.