Scanfil reports record sales and operating profit
EMS provider Scanfil started 2023 on a strong note. The company is reporting record sales and operating profit during its first quarter, supported by increasing customer volumes and better component availability.
The Group’s turnover during the first quarter was EUR 224.6 million, an increase of 14.2% compared to EUR 196.6 million during the same period in 2022. The turnover includes EUR 7.9 million invoicing of spot-market purchases, compared to spot-market purchases of EUR 17.0 million last year. Turnover excluding the spot-market purchases increased by 20.7%.
Operating profit for the period was EUR 15.1 million, an increase from EUR 10.3 million last year. The company says that the operating profit was positively affected by strong customer demand and improved component availability which also had a positive impact on operational efficiency in general. The net profit for the review period was EUR 11.8 million, an increase from EUR 8.0 million during the first quarter of 2022.
The strong start of the year has made Scanfil revise its full-year outlook for turnover and adjusted operating profit.
Scanfil now estimates its turnover for 2023 to be in the range of EUR 880–940 million, previously the EMS provider expected revenues of EUR 820–890 million, and its adjusted operating profit to be EUR 56–64 million, compared to its previous outlook of EUR 49–55 million.
”The turnover for the first quarter was at a record high level reaching EUR 224.6 million with an increase of 14% compared to the previous year. The customer demand was strong in Energy & Cleantech, Medtech & Life Science, Connectivity, and Automation & Safety customer segments. In addition to a strong customer demand, the delivery volumes were supported by the rapidly improving availability of components, which was also reflected in reduced spot market purchases” says CEO Petteri Jokitalo in a press release.
The CEO continues to say that in order to meet the increasing customer demand and delivery volumes, Scanfil has invested in the capacity at its factories. In the summer of 2023, the company will implement new electronics manufacturing lines for its site in Atlanta in the US, as well as at its Sieradz factory in Poland. In addition, the company has plans to expand the Sieradz factory significantly with a new production building.
