Incap: “we can continue on our growth path in 2022”
Incap is showing off an another quarter of growth, despite the challenging market conditions relating to the global semiconductor shortage.
The EMS provider recorded a revenue increase of 41.4% during the quarter. Revenues amounted to EUR 53.3 million, up from EUR 37.7 million during the same period last year. Operating profit (EBIT) increased 22.8%, amounting to EUR 6.8 million, compared with EUR 5.5 million during 1Q21. Net profit for the period increased 19.7% to EUR 5.5 million from EUR 4.6 million during the first quarter last year.
“The first quarter of 2022 was another quarter of growth despite the challenging market conditions especially regarding the overall supply chain and component availability. Energy shortages and the ongoing coronavirus pandemic are still affecting deliveries from China. General raw material and energy price increases continue, now additionally fuelled by the war in Ukraine,” says president and CEO Otto Pukk in the business review report.
The CEO continues to say that the capacity expansion at the company’s Indian factory is progressing as planned, scheduled for completion by the end of the year. Additionally, Incap continues to invest in our European factories.
“With the continued challenging component availability situation and the supply chain challenges, we will keep our inventories on a high level to support our future growth and meet the growing demand,” Otto Pukk says and continues. “We estimate that we can continue on our growth path in 2022, and we continue to evaluate M&A opportunities, concentrating in companies with a strong cultural fit and good profitability.”
Incap estimates that its revenue, operating profit and adjusted operating profit for 2022 will be higher than in 2021.