Aspocomp Group Plc, Interim Report, April 29, 2025, at 8:00 a.m. (Finnish time)
JANUARY-MARCH 2025 HIGHLIGHTS
- Net sales EUR 10.3 (6.2) million, increase of 66%
- Operating result EUR 0.8 (-1.6) million, 8.0% (-25.9%) of net sales
- Earnings per share EUR 0.10 (-0.24)
- Operative cash flow EUR 1.8 (-2.0) million
- Orders received EUR 11.4 (7.5) million, increase of 52%
- Order book at the end of the review period EUR 21.0 (11.8) million, increase of 79%
- Equity ratio 55.1% (64.5%)
OUTLOOK FOR 2025
In 2025, the demand for Aspocomp’s products is expected to remain solid. In particular, demand in the semiconductor market is anticipated to develop favorably thanks to significant investments in AI applications and data centers. Good growth in demand is also expected to continue in the Security, Defense and Aerospace customer segment.
Aspocomp reiterates the guidance that was published on February 26, 2025. Aspocomp estimates that its net sales for 2025 will grow significantly from the 2024 level, and that its operating result for 2025 will turn clearly profitable. In 2024, net sales amounted to EUR 27.6 million and the operating result was a loss of EUR 4.0 million.
CEO’S REVIEW
“In January-March, Aspocomp came close to achieving an all-time net sales record and the company’s operating result turned clearly profitable. In addition, the company’s order book remained at a high level. The systematic work that has continued since last spring to increase the order book and streamline production has borne fruit, and we can finally move on to renewing the company’s strategy.
A strong order book and high production capacity utilization increased Aspocomp’s January-March net sales to EUR 10.3 million. Net sales increased year-on-year by 66%. With production profitability and yield also at a good level, the company’s operating profit rose clearly into the black, reaching EUR 0.8 million.
Demand for Aspocomp’s products remained at a good level, and the order book increased year-on-year by nearly 80%. Demand remained high, especially in the Semiconductor Industry customer segment, but demand growth continued in the Security, Defense and Aerospace customer segment as well. The order book at the end of the review period was a record EUR 21.0 million.
In October-November 2024, there was a strong focus on streamlining and stabilizing production throughput. During the early part of the year, we maintained the utilization rate of production capacity at an excellent level; coupled with our robust order book, we almost managed to break our previous net sales record in January-March.
Since the autumn of last year, systematic work has been done to improve production throughput and yields, and this has also raised profitability to a good level. Thanks to these measures, the company’s operating result has been turned from a loss to substantial profit. With the increase in production volumes, net working capital has been kept at a moderate level, and this, together with the robust growth in net sales, has turned the operating cash flow strongly positive. Operating cash flow increased year-on-year by nearly EUR 4 million and amounted to EUR 1.8 million.
With the improvement in production throughput, delivery reliability has also improved. We expect delivery reliability to return to a good level during April-June 2025, and during the rest of the year we will focus on qualitative factors in production.
We expect demand for Aspocomp’s products to remain at a good level in 2025. In particular, demand in the semiconductor market is expected to develop favorably due to large investments in artificial intelligence applications and data centers, for instance. Demand in the Security, Defense and Aerospace customer segment is also expected to continue to grow well.
We reiterate the guidance that was published on February 26, 2025. Aspocomp estimates that its net sales for 2025 will grow significantly from the 2024 level, and that its operating result for 2025 will turn clearly profitable. In 2024, net sales amounted to EUR 27.6 million and the operating result was a loss of EUR 4.0 million.”
NET SALES AND EARNINGS
January-March 2025
January-March 2025 net sales amounted to EUR 10.3 (6.2) million. Net sales increased year-on-year by 66% and growth came mainly from the Semiconductor Industry customer segment.
The Semiconductor Industry customer segment’s January-March net sales increased year-on-year by 382% to EUR 5.2 (1.1) million. Demand in the customer segment remained at a high level in the first quarter of the year.
The Industrial Electronics customer segment’s January-March net sales decreased year-on-year by 73% to EUR 0.3 (1.2) million. The decrease in net sales in the customer segment was due to weak demand from the end customers and limited production capacity.
The Security, Defense and Aerospace customer segment’s January-March net sales increased by 24% year-on-year and amounted to EUR 2.0 (1.6) million. Demand for the customer segment continued to grow in the first quarter of the year.
The Automotive customer segment’s January-March net sales increased by 19% year-on-year and amounted to EUR 2.1 (1.8) million.
The Telecommunication customer segment’s January-March net sales increased by 12% year-on-year and amounted to EUR 0.7 (0.6) million.
The five largest customers accounted for 74% (58%) of net sales. In geographical terms, 64% (83%) of net sales were generated in Europe and 36% (17%) on other continents.
The operating result for January-March 2025 amounted to EUR +0.8 (-1.6) million. The operating result was improved by strong demand, especially in the Semiconductor Industry customer segment, high utilization of production capacity, favorable product mix and improved production throughput and yields.
Operating result was +8.0% (-25.9%) of net sales.
Net financial expenses amounted to EUR 0.1 (0.0) million. Earnings per share were EUR +0.10 (-0.24).
The order book at the end of the review period was EUR 21.0 (11.8) million. The order book grew especially due to strong demand from the Semiconductor Industry customer segment.
| THE GROUP’S KEY FIGURES | |||||
| 1-3/25 | 1-3/24 | Change | 1-12/24 | ||
| Net sales, M€ | 10.3 | 6.2 | 66 | % | 27.6 |
| EBITDA, M€ | 1.2 | -1.1 | 211 | % | -2.1 |
| Operating result, M€ | 0.8 | -1.6 | 151 | % | -4.0 |
| % of net sales | 8% | -26% | 34 | ppts | -14% |
| Pre-tax profit/loss, M€ | 0.7 | -1.7 | 143 | % | -4.3 |
| % of net sales | 7% | -27% | 33 | ppts | -16% |
| Profit/loss for the period, M€ | 0.7 | -1.7 | 142 | % | -3.5 |
| % of net sales | 7% | -27% | 33 | ppts | -13% |
| Earnings per share, € | 0.10 | -0.24 | 142 | % | -0.51 |
| Received orders | 11.4 | 7.5 | 52 | % | 37.0 |
| Order book at the end of period | 21.0 | 11.8 | 79 | % | 19.9 |
| Investments, M€ | 0.2 | 0.2 | 9 | % | 0.4 |
| % of net sales | 2% | 3% | -1 | ppts | 2% |
| Cash, end of the period | 1.7 | 1.3 | 42 | % | 1.4 |
| Equity / share, € | 2.34 | 2.50 | -16 | % | 2.24 |
| Equity ratio, % | 55% | 65% | -9 | ppts | 54% |
| Gearing, % | 26% | 17% | 9 | ppts | 37% |
| Personnel, end of the period | 167 | 163 | 4 | persons | 165 |
| * The total may deviate from the sum totals due to rounding up and down. | |||||
INVESTMENTS
Investments during the review period amounted to EUR 0.2 (0.2) million. The investments were made in factory equipment modernization at the Oulu plant.
CASH FLOW AND FINANCING
January-March 2025 cash flow from operations amounted to EUR 1.8 (-2.0) million. Cash flow improved mainly due to the better operating result.
Cash assets amounted to EUR 1.7 (1.3) million at the end of the period. Interest-bearing liabilities amounted to EUR 5.9 (4.2) million. Interest-bearing liabilities are subject to covenant terms. The covenant terms were breached in the January-March interim report 2025, but waiver consents have been obtained from financiers. Interest-bearing liabilities increased due to the use of the credit facility. Gearing was 26% (17%). Non-interest-bearing liabilities amounted to EUR 7.0 (5.2) million.
At the end of the period, the Group’s equity ratio amounted to 55.1% (64.5%).
The company has a EUR 6.0 (4.0) million credit facility, of which EUR 5.6 (2.9) million was in use at the end of the review period. In addition, the company has an invoice credit agreement (factoring), of which EUR 4.8 (0.0) million was in use. At the end of the reporting period, EUR 0.6 (0.0) million was available through the invoice credit agreement.
PERSONNEL
During the review period, the company had an average of 166 (163) employees. The personnel count on March 31, 2025, was 167 (163). Of them, 113 (107) were blue-collar and 54 (56) white-collar employees.
CHANGES IN MANAGEMENT TEAM
Ms. Hanna-Leena Keskitalo, who was appointed as Aspocomp’s HR Director and a member of the Aspocomp Management Team on December 20, 2024, started in her position on January 20, 2025.
As of January 20, 2025, Aspocomp’s Management Team includes Manu Skyttä, President and CEO, Antti Ojala, CCO and Deputy CEO, Pekka Holopainen, COO, Hanna-Leena Keskitalo, HR Director, Jouni Kinnunen, CFO and Mitri Mattila, CTO.
ANNUAL GENERAL MEETING 2024, THE BOARD OF DIRECTORS AND AUTHORIZATIONS GIVEN TO THE BOARD
The decisions of the Annual General Meeting held on April 18, 2024, the authorizations given to the Board of Directors by the AGM and the decisions relating to the organization of the Board of Directors have been published in separate stock exchange releases on April 18, 2024.
Aspocomp’s Annual General Meeting 2025 will be held on Tuesday, April 29 at 10:00 a.m. (Finnish time).
SHARES
The total number of Aspocomp’s shares at March 31, 2025, was 6,849,240 and the share capital stood at EUR 1,000,000. The company did not hold any treasury shares. Each share is of the same share series and entitles its holder to one vote at a General Meeting and to have an identical dividend right.
On July 20, 2022, the Board of Directors of Aspocomp Group Plc decided on the establishment of a share-based long-term incentive scheme for the company’s senior management and selected key employees. The first performance period 2022–2024 of the Performance Share Plan began in July 2022 and ended at the end of 2024. The performance criteria for the performance period were met for the CEO. In addition, the CEO had been granted a commitment bonus to which no performance criteria were applied. The Board of Directors of Aspocomp Group Plc has, based on the authorization granted by the Annual General Meeting on April 18, 2024, resolved on a directed share issue without payment to the CEO for the purpose of delivering share rewards. In the share issue, 7,800 new shares in the company were issued without consideration to the company’s CEO in deviation from the shareholders’ pre-emptive subscription right for the payment of the rewards of the performance period 2022–2024 and the commitment bonus. In accordance with Chapter 9, Section 4, Subsection 1 of the Finnish Companies Act, there was a particularly weighty financial reason for the deviation from the shareholders’ pre-emptive subscription right from the company’s point of view and taking into account the interests of all its shareholders, as the shares were issued for the purpose of delivering a share reward under the long-term incentive plan in accordance with the terms and conditions of the plan and for the payment of the commitment bonus. The new shares issued in the share issue were registered with the Trade Register on March 20, 2025. After the registration of the new shares, the total number of shares in the company is 6,849,240.
A total of 586,816 Aspocomp Group Plc. shares were traded on Nasdaq Helsinki during the period from January 1 to March 31, 2025. The aggregate value of the shares exchanged was EUR 2,697,908. The shares traded at a low of EUR 3.07 and a high of EUR 6.00. The average share price was EUR 4,59. The closing price at March 31, 2025, was EUR 5.40, which translates into market capitalization of EUR 36.9 million.
The company had 4,530 shareholders at the end of the review period. Nominee-registered shares accounted for 0.7% of the total shares.
SHARE-BASED LONG-TERM INCENTIVE SCHEME
The Board of Directors of Aspocomp Group Plc decided on the establishment of a share-based long-term incentive scheme for the company’s top management and selected key employees on July 20, 2022. The objectives of the Performance Share Plan (PSP) are to align the interests of Aspocomp’s management with those of the company’s shareholders and thereby promote shareholder value creation in the long term as well as to commit the management to achieving Aspocomp’s strategic targets.
On July 20, 2022, the Board of Directors of Aspocomp Group Plc decided on the commencement of the first performance period, PSP 2022-2024, in the share-based long-term incentive scheme for the company’s top management and selected key employees. The PSP 2022-2024 program covered the period from the beginning of July 2022 until the end of 2024. Eligible for participation in PSP 2022-2024 were approximately 20 individuals, including the members of Aspocomp’s Management Team. The performance criteria for the performance period, which were cumulative operating result and the development of Aspocomp’s absolute TSR, were not achieved. The CEO joined the company in May 2024, after which the performance criteria for TSR were met for the subsequent earning period. In addition, the CEO was granted a commitment bonus, to which no performance criteria were applied. During the first quarter of 2025, 15,600 shares were paid from the PSP 2022-2024 program, half of which were paid in shares and half in cash to cover income tax withholding.
On February 15, 2023, Aspocomp Group Plc’s Board of Directors decided on the commencement of a second performance period, PSP 2023-2025, in the share-based long-term Performance Share Plan (PSP) for the company’s senior management and selected key employees. The PSP 2023-2025 program’s implementation period began at the beginning of 2023 and will end at the end of 2025. The performance criteria for the performance period are the cumulative operating result and the development of Aspocomp’s absolute TSR. Eligible for participation in PSP 2023-2025 are approximately 20 individuals, including the members of Aspocomp’s Management Team. The share rewards potentially earned under the incentive plan will be paid during H1 2026.
The Board of Directors of Aspocomp Group Plc has approved a third performance period covering the years 2024–2026 within the share-based long-term incentive scheme on July 18, 2024. The Performance Share Plan is part of the existing long-term incentive scheme structure, and it is aimed at the company’s top management and selected key employees. The PSP 2024–2026 program’s implementation period began at the beginning of 2024 and will end at the end of 2026. The performance criteria for the performance period are the cumulative operating result and the development of Aspocomp’s absolute TSR. Eligible for participation in PSP 2023-2025 are approximately 20 individuals, including the members of Aspocomp’s Management Team. The share rewards potentially earned under the incentive plan will be paid during H1 2027.
SHAREHOLDERS’ NOMINATION BOARD
On September 17, 2024, Aspocomp announced the composition of its Shareholders’ Nomination Board. The three largest shareholders have appointed the following members to the Shareholders’ Nomination Board: Päivi Marttila, appointed by Etola Group and Erkki Etola, Kyösti Kakkonen, appointed by Joensuun Kauppa ja Kone Oy, and Mikko Montonen, the third largest shareholder.
ASSESSMENT OF SHORT-TERM BUSINESS RISKS
The geopolitical situation and trade war have increased the risks related to customers’ global supply chains. Weak economic development, inflation and unpredictable trade policy cause uncertainty in the operating environment and may affect customer demand and delay customers’ investment decisions.
Aspocomp’s customer base is concentrated, and more than half of the net sales come from five customers. This can expose the company to significant demand fluctuations. In addition, product mix fluctuations can have a major impact on profitability.
Aspocomp’s ability to operate may deteriorate due to production interruptions among suppliers or disruptions in the company’s production. Disturbances in the labor market can also affect production and delivery capacity. Cyber risks and disruptions in information systems can affect production.
ANNUAL GENERAL MEETING 2025
Aspocomp’s Annual General Meeting 2025 will be held on Tuesday, April 29 at 10:00 a.m. (Finnish time).
PUBLICATION OF THE FINANCIAL RELEASES FOR 2025
Aspocomp Group Plc’s financial information publication schedule for 2025 is:
Half-year report 2025: Thursday, July 17, 2025 at around 9:00 a.m. (Finnish time)
Interim report January-September 2025: Thursday, October 30, 2025 at around 9:00 a.m. (Finnish time).
Aspocomp’s silent period commences 30 days prior to the publication of its financial information.
Publication of the January-March Interim Report 2025
Aspocomp’s CEO Manu Skyttä will present the January-March Interim Report in a webcast today, April 29, 2025, starting at 1:00 p.m. Finnish time. The webcast will be held in Finnish and can be accessed at https://aspocomp.events.inderes.com/q1-2025.
Questions are requested to be submitted in writing via the chat functionality of the webcast portal.
The report and presentation material will be available at Aspocomp’s website https://aspocomp.com/investors/interim-reports/reports/ after the publication.
Espoo, April 29, 2025
Aspocomp Group PLC
Board of Directors
Some statements in this stock exchange release are forecasts and actual results may differ materially from those stated. Statements in this stock exchange release relating to matters that are not historical facts are forecasts. All forecasts involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performances or achievements of the Aspocomp Group to be materially different from any future results, performances or achievements expressed or implied by such forecasts. Such factors include general economic and business conditions, fluctuations in currency exchange rates, increases and changes in PCB industry capacity and competition, and the ability of the company to implement its investment program.
ACCOUNTING POLICIES AND CHANGES IN ACCOUNTING POLICES
The reported operations include the Group’s parent company, Aspocomp Group Plc. All figures presented for the review period are unaudited. This interim report has been prepared in accordance with IAS 34 (Interim Financial Reporting).
R&D
R&D costs comprise general production development costs. These costs do not fulfill the IAS 38 definition of either development or research and are therefore booked into plant overheads.
| PROFIT & LOSS STATEMENT | January-March 2025 | |||||||
| 1 000 € | 1-3/2025 | 1-3/2024 | Change | 1-12/2024 | ||||
| Net sales | 10,347 | 100% | 6,243 | 100% | 66% | 27,581 | 100% | |
| Other operating income | 2 | 0% | 2 | 0% | 6% | 34 | 0% | |
| Materials and services | -4,814 | -47% | -3,491 | -56% | 38% | -14,974 | -54% | |
| Personnel expenses | -2,683 | -26% | -2,595 | -42% | 3% | -9,389 | -34% | |
| Other operating costs | -1,621 | -16% | -1,270 | -20% | 28% | -5,330 | -19% | |
| Depreciation and amortization | -399 | -4% | -506 | -8% | -21% | -1,885 | -7% | |
| Operating result | 831 | 8% | -1,617 | -26% | 151% | -3,962 | -14% | |
| Financial income and expenses | -124 | -1% | -44 | -1% | -368 | -1% | ||
| Profit/loss before tax | 708 | 7% | -1,661 | -27% | 143% | -4,330 | -16% | |
| Change in deferred tax asstes* | 874 | |||||||
| Income taxes | -2 | 0% | -3 | 0% | -19 | 0% | ||
| Profit/loss for the period | 705 | 7% | -1,663 | -27% | 142% | -3,476 | -13% | |
| Other comprehensive income | ||||||||
| Items that will not be reclassified to profit or loss | ||||||||
| Remeasurements of defined benefit pension | ||||||||
| plans | 37 | 0% | ||||||
| Income tax relating to these items | -6 | 0% | ||||||
| Items that may be reclassified subsequently to profit or loss: | ||||||||
| Currency translation differences | -12 | 0% | 1 | 0% | 8 | 0% | ||
| Total other comprehensive income | -12 | 0% | 1 | 0% | 39 | 0% | ||
| Total comprehensive income | 693 | 7% | -1,662 | -27% | 142% | -3,437 | -12% | |
| Earnings per share (EPS) | ||||||||
| Basic EPS | 0.10 | € | -0.24 | € | -142% | -0.51 | € | |
| Diluted EPS | 0.10 | € | -0.24 | € | -142% | -0.51 | € | |
| *The change in deferred tax assets is mainly due to the use of losses confirmed in taxation. | ||||||||
| CONSOLIDATED BALANCE SHEET | ||||
| 1 000 € | 3/2025 | 3/2024 | Change | 12/2024 |
| Assets | ||||
| Non-current assets | ||||
| Intangible assets | 3,252 | 3,333 | -2% | 3,266 |
| Tangible assets | 4,717 | 5,836 | -19% | 4,967 |
| Right-of-use assets | 278 | 478 | -42% | 285 |
| Financial assets at fair value through profit or loss | 95 | 95 | 0% | 95 |
| Deferred income tax assets | 5,404 | 4,513 | 20% | 5,404 |
| Total non-current assets | 13,746 | 14,256 | -4% | 14,018 |
| Current assets | ||||
| Inventories | 6,335 | 4,835 | 31% | 5,726 |
| Short-term receivables | 7,281 | 6,064 | 20% | 7,289 |
| Cash and bank deposits | 1,750 | 1,331 | 31% | 1,377 |
| Total current assets | 15,365 | 12,229 | 26% | 14,392 |
| Total assets | 29,112 | 26,485 | 10% | 28,410 |
| Equity and liabilities | ||||
| Share capital | 1,000 | 1,000 | 0% | 1,000 |
| Reserve for invested non-restricted equity | 4,866 | 4,823 | 1% | 4,857 |
| Remeasurements of defined benefit pension plans | -33 | -64 | -48% | -33 |
| Retained earnings | 10,215 | 11,328 | -10% | 9,522 |
| Total equity | 16,047 | 17,087 | -6% | 15,346 |
| Long-term financing loans | 4,940 | 531 | 831% | 5,764 |
| Other non-current liabilities | 238 | 323 | -26% | 238 |
| Provisions | 134 | 0 | 0 | |
| Deferred income tax liabilities | 54 | 36 | 48% | 54 |
| Short-term financing loans | 999 | 3,639 | -73% | 1,336 |
| Trade and other payables | 6,700 | 4,870 | 38% | 5,672 |
| Total liabilities | 13,064 | 9,399 | 39% | 13,064 |
| Total equity and liabilities | 29,112 | 26,485 | 10% | 28,410 |
| CONSOLIDATED CHANGES IN EQUITY | ||||||
| January-March 2025 | ||||||
| 1000 € | Share capital | Other reserve | Remeasurements of employee benefits | Translation differences | Retained earnings | Total equity |
| Balance at Jan. 1, 2025 | 1,000 | 4,857 | -33 | -1 | 9,523 | 15,346 |
| Comprehensive income | ||||||
| Comprehensive income for the period | 705 | 705 | ||||
| Other comprehensive income for the period, net of tax | ||||||
| Translation differences | -12 | -12 | ||||
| Total comprehensive income for the period | 0 | 0 | 0 | -12 | 705 | 693 |
| Business transactions with owners | ||||||
| Dividends paid | 0 | |||||
| Share-based payment | 8 | 8 | ||||
| Business transactions with owners, total | 0 | 8 | 0 | 0 | 0 | 8 |
| Balance at March 31, 2025 | 1,000 | 4,866 | -33 | -13 | 10,228 | 16,047 |
| January-March 2024 | ||||||
| Balance at Jan. 1, 2024 | 1,000 | 4,842 | -64 | -9 | 12,999 | 18,767 |
| Comprehensive income | ||||||
| Comprehensive income for the period | -1,663 | -1,663 | ||||
| Other comprehensive income for the period, net of tax | ||||||
| Translation differences | 0 | 1 | 1 | |||
| Total comprehensive income for the period | 0 | 0 | 0 | 1 | -1,663 | -1,662 |
| Business transactions with owners | ||||||
| Dividends paid | 0 | 0 | ||||
| Share-based payment | -19 | 0 | -19 | |||
| Business transactions with owners, total | 0 | -19 | 0 | 0 | 0 | -19 |
| Balance at March 31, 2024 | 1,000 | 4,823 | -64 | -8 | 11,335 | 17,087 |
| CONSOLIDATED CASH FLOW STATEMENT | January-March | ||
| 1 000 € | 1-3/2025 | 1-3/2024 | 1-12/2024 |
| Profit for the period | 705 | -1,663 | -3,476 |
| Adjustments | 677 | 520 | 1,403 |
| Change in working capital | 486 | -854 | -2,280 |
| Received interest income | 0 | 0 | 10 |
| Paid interest expenses | -92 | -50 | -357 |
| Paid taxes | -2 | -3 | -13 |
| Cash flow from operating activities | 1,774 | -2,050 | -4,714 |
| Investments | -177 | -162 | -425 |
| Proceeds from sale of property, plant and equipment | 0 | 0 | 3 |
| Cash flow from investing activities | -177 | -162 | -422 |
| Increase in financing | 0 | 2,450 | 6,401 |
| Decrease in financing | -1,156 | -208 | -992 |
| Decrease in lease liabilities | -15 | -36 | -273 |
| Dividends paid | 0 | 0 | 0 |
| Cash flow from financing activities | -1,171 | 2,206 | 5,137 |
| Change in cash and cash equivalents | 426 | -5 | 0 |
| Cash and cash equivalents at the beginning of period | 1,377 | 1,322 | 1,322 |
| Effects of exchange rate changes on cash and cash equivalents | -54 | 14 | 55 |
| Cash and cash equivalents at the end of period | 1,750 | 1,331 | 1,377 |
| KEY INDICATORS | ||||||
| Q1/2025 | Q4/2024 | Q3/2024 | Q2/2024 | 2024 | ||
| Net sales, M€ | 10.3 | 7.9 | 6.4 | 7.0 | 27.6 | |
| Operating result before depreciation (EBITDA), M€ | 1.2 | 0.5 | -0.7 | -0.8 | -2.1 | |
| Operating result (EBIT), M€ | 0.8 | 0.1 | -1.2 | -1.2 | -4.0 | |
| of net sales, % | 8% | 1% | -19% | -17% | -14% | |
| Profit/loss before taxes, M€ | 0.7 | 0.0 | -1.3 | -1.3 | -4.3 | |
| of net sales, % | 7% | 0% | -21% | -19% | -16% | |
| Net profit/loss for the period, M€ | 0.7 | 0.9 | -1.3 | -1.3 | -3.5 | |
| of net sales, % | 7% | 11% | -21% | -19% | -13% | |
| Received orders | 11.4 | 8.7 | 14.1 | 6.6 | 37.0 | |
| Order book at the end of period | 21.0 | 19.9 | 19.1 | 11.3 | 19.9 | |
| Equity ratio, % | 55% | 54% | 56% | 58% | 54% | |
| Gearing, % | 26% | 37% | 36% | 25% | 37% | |
| Gross investments in fixed assets, M€ | 0.2 | 0.2 | 0.0 | 0.0 | 0.4 | |
| of net sales, % | 2% | 3% | 0% | 1% | 2% | |
| Personnel, end of the quarter | 167 | 165 | 164 | 154 | 165 | |
| Earnings/share (EPS), € | 0.10 | 0.12 | -0.20 | -0.19 | -0.51 | |
| Equity/share, € | 2.34 | 2.24 | 2.11 | 2.30 | 2.24 |
| The Alternative Performance Measures (APM) used by the Group | ||||
| Aspocomp presents in its financial reporting alternative performance measures, which describe the businesses’ financial performance and its development as well as investments and return on equity. In addition to accounting measures which are defined or specified in IFRS, alternative performance measures complement and explain the presented information. Aspocomp presents in its financial reporting the following alternative performance measures: | ||||
| EBITDA | = | Earnings before interests, taxes, depreciations and amortizations | ||
| EBITDA indicates the result of operations before depreciations, financial items and income taxes. It is an important key figure, as it shows the profit margin on net sales after operating expenses are deducted. | ||||
| Operating result | = | Earnings before income taxes and financial income and expenses presented in the IFRS consolidated income statement. | ||
| The operating result indicates the financial profitability of operations and their development. | ||||
| Profit/loss before taxes | = | The result before income taxes presented in the IFRS consolidated statements. | ||
| Equity ratio, %
| =
| Equity | x 100
| |
| Total assets – advances received | ||||
| Gearing, %
| =
| Net interest-bearing liabilities | x 100
| |
| Total equity | ||||
| Gearing indicates the ratio of capital invested in the company by shareholders and interest-bearing debt to financiers. A high gearing ratio is a risk factor that may limit a company’s growth opportunities and financial latitude. | ||||
| Gross investments | = | Acquisitions of long-term intangible and tangible assets (gross amount). | ||
| Order book | = | Undelivered customer orders at the end of the financial period. | ||
| Cash flow from operating activities | = | Profit for the period + non-cash transactions +- other adjustments +- change in working capital + received interest income – paid interest expenses – paid taxes | ||
| CONTINGENT LIABILITIES | |||
| 1 000 € | 3/2025 | 3/2024 | 12/2024 |
| Business mortgage | 6,000 | 6,000 | 6,000 |
| Mortage of land leasehold rights | 3,498 | 3,498 | 3,498 |
| Guaranteed contingent liability towards the Finnish Customs | 35 | 35 | 35 |
| Total | 9,533 | 9,533 | 9,533 |
Further information
For further information, please contact Manu Skyttä, President and CEO,
tel. +358 400 999 822, manu.skytta(at)aspocomp.com.
Aspocomp – heart of your technology
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.
www.aspocomp.com
Attachment
- Aspocomp Q1 2025
- deepull secures oversubscribed €50 million Series C financing to advance UllCORE diagnostic system for direct-from-blood rapid pathogen detection - April 29, 2025
- Apollo Funds to Acquire Pan-European, Highly Interconnected Colocation Data Center Business from STACK Infrastructure, a portfolio company of Blue Owl Digital Infrastructure - April 29, 2025
- 1st Quarter Results - April 29, 2025
