Incap updates its outlook for 2023
Incap estimates that its revenue for 2023 will be EUR 210–220 million and EBIT EUR 24–28 million. The outlook includes the newly acquired Incap US (Pennatronics Inc.) business.
In 2022 the EMS provider recorded revenue of EUR 263.8 million with an EBIT of EUR 38.9 million. Earlier this year the company announced that it was pulling back on its expectations for 2023, but did not specify further than that "revenue and operating profit (EBIT) for 2023 will be lower than in 2022."
Now the company has officially stated that it expects revenue for 2023 will be EUR 210–220 million and EBIT EUR 24–28 million. The lower operating profit estimate is due to Incap’s largest customer’s updated sales forecast and that the customer’s destocking will take longer than expected.