Scanfil: ‘We expect strong demand for the rest of the year’

The group’s turnover in April–June was EUR 172.9 million (compared with EUR 155.6 million) and operating profit was EUR 10.6 million (EUR 10.2 million). Turnover increased, by 11.1% compared to the same period of the year before. “Customer demand started to improve in the latter half of 2020 and this recovery strengthened further in the second quarter. Growth in demand was especially strong in the product groups concerning energy efficiency, indoor climate, automation, recycling and elevators,” says CEO Petteri Jokitalo in the quarter report. The operating profit was EUR 10.6 million, up from EUR 10.2 million during the same quarter 2020. The Hamburg production transfer had a negative impact on the operating profit. The net profit for April–June amounted to EUR 8.6 million, compared with EUR 8.3 million. Due to strong customer demand Scanfil revised its outlook for 2021 and now estimates that its turnover for the full year will be EUR 630–680 million and its adjusted operating profit will be EUR 41–46 million. “We expect strong demand for the remainder of the year. Key risks are related to the availability of certain materials, such as semiconductors and steel, and the development of the COVID-19 situation. In particular, with regard to materials, circumstances are challenging and require constant attention and actions to secure customer deliveries. The situation with the pandemic has improved in our geographic areas of operations and we have gradually started to reduce our preventative actions in our factories. Nevertheless, the situation might change rapidly and we are conscious of the importance of active monitoring and fast response,” the CEO continues.