Scanfil's 3Q turnover drop 18% in 2024
For the third quarter, EMS provider Scanfil reported turnover was EUR 173.3 million – compared to EUR 212.8 million a year ago, a decrease of 18.6%.
According to Scanfil, turnover declined by EUR 39.5 million, with spot market purchases accounting for EUR 1.3 million. Excluding spot market purchases, turnover fell by 18.0%.
Operating profit for the third quarter amounted to EUR 12.1 million, a decrease of 20.4% from EUR 15.2 million during the same period last year. The net profit for the third quarter was EUR 8.7 million, a decrease of 20.7% from EUR (11.0 million during the same quarter of 2023.
The turnover for the January–September period was EUR 567.7 million, a decrease of 16.6% compared to the previous year’s comparison period of EUR 680.7 million. The turnover decreased by EUR 113.1 million of which EUR 12.1 million were spot market purchases. Excluding spot market purchases, turnover decreased by 15.2%.
Operating profit for the January–September period was EUR 38.8 million, a decrease of 19.1% from 47.9 during the comparison period.
During the January–September period, the company's largest customer accounted for about 12% of the turnover and the top ten customers accounted for about 55% of the turnover.
Scanfil updated its outlook for 2024 earlier this summer and now estimates its turnover to be EUR 780–840, down from the previous estimate of EUR 820–900 million.
