Scanfil updates it strategy and financial targets
EMS provider Scanfil is launching its new strategy “Geared for growth” under which the company aims to expand its market position and opportunities.
“In 2023 we hit the all-time high turnover and profit. We have solid customer base with high growth potential especially in Energy & Cleantech and Medtech & Life Science,” says the CEO of Scanfil Christophe Sut, in a press release. “We have a positive long-term outlook for the business, and we aim to drive our growth.”
Over the past three years, Scanfil has pushed for organic growth. Now, the company is shifting its strategy looking to balance between organic and inorganic growth. The company says that ideally, potential acquisition targets would complement its customer base and factory network in Asia (but outside of China), North America, and Eastern Central Europe.
The company continues to state that it will continue to drive our organic growth and accelerate that by moving to three business segments – namely Industrial, Energy & Cleantech and Medtech & Life Science.
Industrial was formed by combining the previous three segments: Advance Consumer Applications, Automation & Safety and Communications. Each new segment has dedicated sales teams to drive growth and profitability.
“Segmentations clarify roles and further enhance sales growth for all business segments. To drive factory specific sales, we still have local sales people”, the CEO explains in the press release.
Christophe Sut continues to say that the company can drive its sales more efficiently by re-organising it and also incentivising it through specific customer groups.
Through these changes, Scanfil is aiming for a 10% turnover growth on average per annum over the business cycle and an operating profit margin of 7-8%.
