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Aspocomp Releases Half-Year Financial Report 2018
August 9, 2018 | AspocompEstimated reading time: 4 minutes
In 2018, Aspocomp’s net sales is expected to grow over 10% and the operating result to double compared with 2017. In 2017, net sales amounted to EUR 23.9 million and the operating result to EUR 0.8 million.
Key Figures April-June 2018
- Net sales: EUR 7.7 million (EUR 5.7 million)
- EBITDA: EUR 1.1 million (0.4)
- Operating result: EUR 0.8 million (0.1)
- Earnings per share: EUR 0.12 (0.01)
Key Figures January-June 2018
- Net sales: EUR 13.8 million (EUR 11.6 million)
- EBITDA: EUR 1.6 million (0.9)
- Operating result: EUR 1.1 million (0.3)
- Earnings per share: EUR 0.15 (0.05)
- Operational cash flow: EUR 0.7 million (1.1)
- Order book at the end of period: EUR 3.1 million (2.4)
CEO’s Review
“Sales growth picked up in the second quarter. Net sales amounted to EUR 7.7 million, a year-on-year increase of 35%. Net sales in the first half of the year increased by 19% compared to last year’s reference period, amounting to EUR 13.8 million.
Sales grew in almost all customer segments, with the exception of the security and defense segments. The largest growth in the first half of the year was generated by the automotive industry, but the second-quarter pick-up was boosted particularly by the increased demand for next-generation 5G telecommunications networks. The industrial electronics and semiconductor testing segments continued to enjoy good steady growth. The order book strengthened clearly and amounted to EUR 3.1 million.
The operating result for April-June grew to EUR 0.8 million. The operating profit margin rose to over 10%. The positive development of the operating result was mainly due to growth in net sales and the focus on more demanding PCBs in the product mix. Cumulatively, the operating result for the first half of the year amounted to EUR 1.1 million, representing nearly 8% of net sales. Cash flow from operations amounted to EUR 0.7 million, and it weakened by EUR 0.4 million compared to last year’s reference period because growth in net sales tied up more working capital.
The investment program announced in December 2017 is proceeding on schedule and the first equipment is already in production use. The program aims to improve the Oulu plant’s technological capabilities and capacity in order to bolster the company’s position as a partner to the world’s leading technology companies.”
Net Sales and Earnings
April-June 2018
Second-quarter net sales amounted to EUR 7.7 million (EUR 5.7 million), a year-on-year increase of 35%. Sales developed in the second quarter in almost all customer segments and the pick-up was boosted by the increased demand for next-generation 5G telecommunications networks in particular.
The five largest customers accounted for 56% of net sales (51%). In geographical terms, 96% of net sales were generated in Europe (96%), 2% in Asia (1%) and 2% in North America (3%).
The operating result for the second quarter amounted to EUR 0.8 million (EUR 0.1 million). The positive development of the operating result was mainly due to growth in net sales and the focus on more demanding PCBs. Second-quarter operating result was 10.2% of net sales.
Net financial expenses amounted to EUR 0.0 million (EUR 0.0 million). Earnings per share were EUR 0.12 (EUR 0.01).
The order book at the end of the review period was EUR 3.1 million (EUR 2.4 million), representing a year-on-year increase of about EUR 0.6 million.
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