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Aspocomp Releases 2018 Financial Statements
February 28, 2019 | Globe NewswireEstimated reading time: 5 minutes
Fourth-quarter net sales amounted to EUR 8.5 (6.3) million, a year-on-year increase of 36%. The fourth quarter was clearly strongest, and sales were boosted particularly by strong demand in the telecommunications network segment.
The five largest customers accounted for 55 (49)percent of net sales. In geographical terms, 98 (95)% of net sales were generated in Europe, 1 (2)% in Asia and 1 (3)% in North America.
The operating result for the fourth quarter tripled compared to last year’s reference period and amounted to EUR 1.2 (0.4) million. Fourth-quarter operating result was 14.5% of net sales. The Oulu plant managed to increase its delivery reliability to a record level in the fourth quarter and at the same time reduced production losses.
Net financial expenses amounted to EUR 0.0 (0.0) million. Earnings per share were EUR 0.25 (0.13).
The order book at the end of the review period was EUR 2.8 (2.5) million, representing a year-on-year increase of about EUR 0.2 million.
Financial Year 2018
Net sales amounted to EUR 29.1 (23.9) million, a year-on-year increase of 21.8%. All the customer segments selected in the strategy posted strong growth, except for the security and defense segment. In the telecommunications network segment, demand was strengthened by the development of the next generation of 5G technology and the launch of the first commercial networks and equipment. The semiconductor testing segment also saw significant growth and its net sales amounted to EUR 2 million. The automotive industry and industrial electronics segments grew also, but more modestly than the ones above. Of the customer segments selected in the strategy, sales decreased only in the security and defense segment, mainly due to strong performance in the reference year and changes in the schedules of customer projects.
The five largest customers accounted for 54 (51)% of net sales. In geographical terms, 97 (95)% of net sales were generated in Europe, 1 (2)% in Asia and 2 (3)% in North America.
Operating result amounted to EUR 2.9 (0.8) million, rising to 10% of net sales. The extremely strong earnings trend is the result of the focus on technologically more demanding printed circuit boards (PCBs) in sales and own manufacturing as well as higher net sales.
Net financial expenses amounted to EUR 0.1 (0,1) million. Earnings per share were EUR 0.49 (0.19).
Outlook for the Future
In 2019, net sales are expected to grow approximately 10% compared with 2018 and the operating result to be better than in 2018. In 2018, net sales amounted to EUR 29.1 million and the operating result to EUR 2.9 million.
The cornerstones of Aspocomp's growth include, for instance, next-generation 5G telecommunications and government networks, the e-revolution in the automotive industry, the development of testing requirements for semiconductor components as well as the spread of artificial intelligence and mechanical applications in the industry.
A major share of Aspocomp’s net sales is generated by quick-turn deliveries and R&D series, and thus the company’s order book is short. The company's aim is to systematically expand its services to cover the PCB needs of customers over the entire life cycle and thereby balance out variations in demand and the order book.
About Aspocomp
A printed circuit board (PCB) is used for electrical interconnection and as a component assembly platform in electronic devices. Aspocomp provides PCB technology design, testing and logistics services over the entire lifecycle of a product. The company’s own production and extensive international partner network guarantee cost-effectiveness and reliable deliveries.
Aspocomp’s customers are companies that design and manufacture telecommunication systems and equipment, automotive and industrial electronics, and systems for testing semiconductor components for security technology. The company has customers around the world and most of its net sales are generated by exports.
Aspocomp is headquartered in Espoo and its plant is in Oulu, one of Finland’s major technology hubs.
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