Aspocomp Reports Sales Growth in First Half of 2016


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Aspocomp Group Plc releases its half year financial report.

Key figures 4-6/2016 in brief

  • Net sales: EUR 5.3 million (EUR 4.4 million 4-6/2015)
  • EBITDA: EUR 0.4 million (-0.2)
  • Comparable operating result: EUR 0.2 million (-0.3)
  • Operating result: EUR 0.2 million (-0.5)
  • Earnings per share: EUR 0.02 (-0.08)

Key figures 1-6/2016 in brief

  • Net sales: EUR 9.5 million (EUR 8.9 million 1-6/2015)
  • EBITDA: EUR 0.2 million (0.2)
  • Comparable operating result: EUR -0.3 million (-0.2)
  • Operating result: EUR -0.3 million (-0.4)
  • Earnings per share (EPS): EUR -0.05 (-0.06)
  • Operational cash flow: EUR -0.2 million (0.2)
  • Order book at the end of period: EUR 2.4 million (1.1)

The company’s full-year guidance remains unchanged. In 2016, net sales are expected to grow and the operating result to be in the black. In 2015, net sales amounted to EUR 17.5 million and the operating result to EUR -1.2 million.

CEO’S Review

“Sales increased during the second quarter to EUR 5.3 million and were EUR 1.2 million higher than in the first quarter. Growth was 22 percent in comparison to the previous year's second quarter, or almost EUR 1.0 million. Demand improved, driven especially by automotive industry customers, but demand for printed circuit boards that support telecommunications customers' product development also picked up after a weak start to the year. The focus of growth during the second quarter was on Central Europe and especially Germany, which is Europe's largest printed circuit board market.

The company's order book continued to grow throughout the second quarter and was EUR 2.4 million at the end of the reporting period. The increase in the order book was mainly due to new projects in the automotive industry.

Second-quarter operating profit increased to EUR 0.2 million, representing slightly more than 3 percent of net sales. Comparable operating profit saw a year-on-year improvement of EUR 0.5 million. Operating result for the first half of the year was still EUR 0.3 million in the red. The strong order book is expected to support favorable result performance during the latter half of the year.”

Net Sales and Earnings

April-June 2016

Second-quarter net sales amounted to EUR 5.3 million, a year-on-year increase of 22 percent. The five largest customers accounted for 52 percent of net sales (48% 4-6/2015). In geographical terms, 92 percent of net sales were generated in Europe (92%), 6 percent in Asia (7%) and 2 percent in North America (1%). Orders from automotive industry customers increased significantly and deliveries to telecommunications customers improved after a weak start to the year.

The operating result for the second quarter amounted to EUR 0.2 million (EUR -0.5 million 4-6/2015).

Second-quarter comparable operating result was EUR 0.5 million higher than a year earlier.

Net financial expenses for the second quarter amounted to EUR 0.0 million (EUR 0.0 million). Earnings per share were EUR 0.02 (EUR -0.08).

First Half of 2016

First-half net sales amounted to EUR 9.5 million (EUR 8.9 million 1-6/2015), a year-on-year increase of 6 percent.

The five largest customers accounted for 50 percent of net sales (47% 1-6/2015). In geographical terms, 90 percent of net sales were generated in Europe (94%), 6 percent in Asia (5%) and 4 percent in North America (1%).

First-half operating result amounted to EUR -0.3 million (EUR -0.4 million 1.6/2015). The comparable operating result was EUR -0.3 million (EUR -0.2 million 1-6/2015, including the Teuva plant's shutdown costs).

Net financial expenses amounted to EUR 0.0 million (EUR 0.0 million). Earnings per share were EUR -0.05 (EUR -0.06).

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