Powering the Future: Why Thermal Management Defines the Future of Electronics
Standard of Excellence: Engineering Is the New Sales—How Technical Collaboration Wins Business
SMT Perspectives & Prospects: Artificial Intelligence, Part 7—Data Module 2
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:
Testimonial
"Advertising in PCB007 Magazine has been a great way to showcase our bare board testers to the right audience. The I-Connect007 team makes the process smooth and professional. We’re proud to be featured in such a trusted publication."
Klaus Koziol - atgSuggested Items
ESD Alliance Reports Electronic System Design Industry Posts $5.5 Billion in Revenue in Q4 2025
04/15/2026 | SEMIElectronic System Design (ESD) industry revenue increased 10.3% to $5,466.3 million in the fourth quarter of 2025 from the $4,955.2 million registered in the fourth quarter of 2024, the ESD Alliance, a SEMI Technology Community, announced today in its latest Electronic Design Market Data (EDMD) report.
Punching Out: How Many PCB Companies Are There in North America Now?
03/19/2026 | Tom Kastner -- Column: Punching Out!When I am asked how many PCB shops are still in the U.S., my answer is usually, “About 130. How many do you want to buy?” However, I do not really know the number. My job is either to sell PCB shops or help people buy them, not to count them. I probably should keep better track of them, but many are small (70% have revenue below $10 million), or they say they are making boards even if they rent out their facility as an auto repair shop.
EIPC Winter Conference 2026 Review: The Keynote Sessions
02/11/2026 | Pete Starkey, I-Connect007Aix-en-Provence (pronounced “ex-ahn-pro-vonse”), a historic city and commune in the south of France, about 20 miles north of Marseille, was the pleasant venue for EIPC’s Winter Conference in early February. Industry delegates from 11 European countries, as well as from the U.S. and China, gathered at the Renaissance Hotel for a two-day programme, “Driving the Future: Innovation, Energy, and Sustainability in PCB Technology.” An added attraction was a privileged visit to the ITER fusion power project at the Cadarache research and development centre.
SMTA Space Coast: What's Needed to Modernize Defense Solder Standards
12/23/2025 | Nolan Johnson, I-Connect007Long-time lead-free solder investigator, Denny Fritz, hit the SMTA Space Coast Expo in November to drum up support for an initiative to include lead-free solder in milaero-based printed circuit board assemblies. In this interview, Denny provides background on the genesis of the “consider all solders” project and why it matters to continue leading this effort.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
11/28/2025 | Nolan Johnson, I-Connect007Yesterday was the U.S. Thanksgiving holiday. The traditional meal is, of course, roast turkey with “all the trimmings.” Although not everyone observes that menu, most do, and it was reported that 42 million turkeys were consumed on that day. With an average weight of 16 pounds per turkey, we cooked up 672 million pounds! With approximately 342 million people in the U.S, that pencils out to just under two pounds of drumstick and white meat per person. That, my friends, is a whole lot of leftovers.