Standard of Excellence: Anticipating Customer Needs Early and Often
The Knowledge Base: At the Forefront of Electronics Manufacturing
Global Citizenship: Training the Next Generation of Talent
Incap Group’s Business Review for January–March 2022
April 27, 2022 | IncapEstimated reading time: 2 minutes
Incap Group releases its unaudited business review for January–March 2022.
January–March 2022 highlights
- Revenue increased 41.4% and amounted to EUR 53.3 million (1–3/2021: EUR 37.7 million).
- Adjusted operating profit (EBIT) increased 22.0%, amounting to EUR 7.0 million (EUR 5.7 million) or 13.1% of revenue (15.2%).
- Acquisition related purchase price allocation (PPA) amortisation amounted to EUR 0.1 million (EUR 0.2 million) and non-recurring costs were EUR 0.1 million (EUR 0.1 million).
- Operating profit (EBIT) increased 22.8%, amounting to EUR 6.8 million (EUR 5.5 million) or 12.7% of revenue (14.6%).
- Net profit for the period increased 19.7% and amounted to EUR 5.5 million (EUR 4.6 million).
- Earnings per share were EUR 0.93 (EUR 0.78).
Outlook for 2022
Incap estimates that its revenue, operating profit (EBIT) and adjusted operating profit (EBIT) for 2022 will be higher than in 2021.
The estimates are given provided that there are no major negative changes in the geopolitical or coronavirus pandemic situation, currency exchange rates or in component availability. The estimates are based both on Incap’s customers' forecasts and the company's own assessments of the business development.
Otto Pukk, President and CEO of Incap Corporation:
“We are all devastated by the ongoing humanitarian catastrophe resulting from the war in Ukraine which has put a significant amount of the country's population in need of humanitarian assistance. To support the victims of the war, we are contributing by helping refugees and providing them job opportunities in our factories. Our hearts are with everyone impacted by this crisis, especially with our Ukrainian employees and their families. The situation in Ukraine affects material availability widely.
The first quarter of 2022 was another quarter of growth despite the challenging market conditions especially regarding the overall supply chain and component availability. Energy shortages and the ongoing coronavirus pandemic are still affecting deliveries from China. General raw material and energy price increases continue, now additionally fuelled by the war in Ukraine.
On the other hand, market demand stayed on a high level in the first quarter driven by the growing demand for electronics. The high demand contributed to the revenue, EUR 53.3 million, which was 41.4% more than in the first quarter of 2021.
Our first quarter EBIT grew 22.8% and amounted to EUR 6.8 million or 12.7% of revenue. Our flexible operational model allows for a relatively high EBIT percentage, and we are focusing on increasing the absolute EBIT and earnings per share.
The capacity expansion at our Indian factory is progressing as planned, scheduled for completion by the end of the year. Additionally, we continue to invest in our European factories.
With the continued challenging component availability situation and the supply chain challenges, we will keep our inventories on a high level to support our future growth and meet the growing demand.
We estimate that we can continue on our growth path in 2022, and we continue to evaluate M&A opportunities, concentrating in companies with a strong cultural fit and good profitability.”
Financial reporting in 2022
In 2022 Incap will publish the following financial reports:
- Half-year report for January–June 28 July 2022
- Business review for January–September 27 October 2022
Share on:
Suggested Items
L3Harris Completes Sale of Commercial Aviation Solutions Business to TJC for $800 Million
03/31/2025 | BUSINESS WIREL3Harris Technologies has completed the previously announced sale of its Commercial Aviation Solutions (CAS) business to an affiliate of TJC L.P. for $800 million. The entire $800 million cash purchase price was paid to L3Harris at the closing of the transaction.
Sypris Reports Fourth Quarter Results
03/27/2025 | BUSINESS WIREThe Company’s gross profit for the quarter increased 23.1% from the prior-year period, while gross margin expanded 350 basis points.
LPKF Reports Results for Full Year 2024
03/27/2025 | LPKFThe technology company LPKF Laser & Electronics SE published today its annual report for 2024. Despite the challenging economic conditions for the German mechanical engineering industry, LPKF was able to maintain its revenue slightly below the previous year's level at EUR 122.9 million.
HANZA Acquires Outstanding Shares in Leden Subsidiary
03/19/2025 | HANZAOn March 3, 2025, HANZA AB completed the acquisition of 100% of the shares in the Finnish group Leden Group Oy. Leden also owned approximately 90% of the subsidiary Leden Estonia AS, and HANZA has acquired the remaining shares, which means that the company becomes a wholly owned subsidiary.
SigmaTron Reports Financial Results for Q3 of Fiscal 2025
03/17/2025 | SigmaTron International Inc.For the three month period ended January 31, 2025, revenues decreased $24.8 million, or 26 percent, to $71.1 million compared to $95.9 million for the same quarter in the prior year.