Inside Information, profit warning: Aspocomp lowers its guidance for 2023 and publishes preliminary information for the third quarter and January-September 2023
Aspocomp Group Plc, Inside Information, October 27, 2023, at 09:00 a.m. (Finnish time)
Aspocomp Group Plc lowers its financial guidance for the year 2023. Aspocomp now estimates that its net sales for 2023 will be clearly below the 2022 level. The operating result for 2023 is expected to remain negative. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million.
In its previous outlook for 2023 (published on July 17, 2023), Aspocomp estimated that its net sales for 2023 would be below the 2022 level and its operating result for 2023 would be clearly below the 2022 level. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million.
Reasoning for the updated financial guidance:
The financial guidance has been updated due to the slower-than-expected recovery of the Semiconductor segment's cycle, and the slowdown in investments in several of the company’s customer segments, mainly due to the rise in interest rates as well as high inventory levels in different parts of the value chain. These changes in the operating environment will affect the development of Aspocomp’s net sales during the end of 2023.
In addition, the planning work to increase production capacity in Oulu, which the company started earlier with the aim of ensuring future growth in line with its strategy, has been suspended for the time being due to the weakening of the demand situation. The possible continuation of the planning work will be decided on when it becomes evident that demand for printed circuit boards starts growing again. The planning work-related costs totaled approximately EUR 0.5 million. These costs, which are not part of the usual business, are recorded in the third quarter’s operating result.
Previously, Aspocomp estimated that the cycle of the semiconductor industry would return to growth at the end of 2023 or the beginning of 2024. The slow phase of the cycle has been prolonged, and it is expected that it will swing to growth in the first half of 2024. A temporary slowdown in the semiconductor cycle is typical for the industry. The industry's long-term growth prospects are still strong.
In addition, inflation and interest rates, the risk of recession and the uncertainties posed by Russia’s war of aggression continue to affect the operating environment of Aspocomp and its customers in the 2023 fiscal year.
Preliminary information for the third quarter and January-September 2023
Aspocomp is also disclosing preliminary information for the third quarter of 2023. Net sales are expected to be EUR 8.1 million and the operating result is expected to be EUR -0.7 million. The operating result includes planning work costs of EUR 0.5 million that are not part of normal business. The net sales for January-September are expected to amount EUR 26.4 million and the operating result to EUR 0.0 million.
New outlook for 2023
Aspocomp estimates that its net sales for 2023 will be clearly below the 2022 level and its operating result for 2023 is expected to remain negative. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million.
Previous outlook for 2023 (published on July 17, 2023)
Aspocomp estimated previously that its net sales for 2023 would be below the 2022 level and its operating result for 2023 would be clearly below the 2022 level. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million.
Aspocomp is currently observing a 30-day silent period prior to the publication of its January-September Interim Report. Aspocomp’s Interim Report for January 1 – September 30, 2023, will be released on Thursday, November 9, 2023, at around 09:00 a.m. (Finnish time).
For further information, please contact Mikko Montonen, President and CEO, mikko.montonen(at)aspocomp.com.
ASPOCOMP GROUP PLC
Board of Directors
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
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
Iveco Group signs a 150 million euro term loan facility with Cassa Depositi e Prestiti to support investments in research, development and innovation11.6.2024 12:00:00 CEST | Press release
Turin, 11th June 2024. Iveco Group N.V. (EXM: IVG), a global automotive leader active in the Commercial & Specialty Vehicles, Powertrain and related Financial Services arenas, has successfully signed a term loan facility of 150 million euros with Cassa Depositi e Prestiti (CDP), for the creation of new projects in Italy dedicated to research, development and innovation. In detail, through the resources made available by CDP, Iveco Group will develop innovative technologies and architectures in the field of electric propulsion and further develop solutions for autonomous driving, digitalisation and vehicle connectivity aimed at increasing efficiency, safety, driving comfort and productivity. The financed investments, which will have a 5-year amortising profile, will be made by Iveco Group in Italy by the end of 2025. Iveco Group N.V. (EXM: IVG) is the home of unique people and brands that power your business and mission to advance a more sustainable society. The eight brands are each a
DSV, 1115 - SHARE BUYBACK IN DSV A/S11.6.2024 11:22:17 CEST | Press release
Company Announcement No. 1115 On 24 April 2024, we initiated a share buyback programme, as described in Company Announcement No. 1104. According to the programme, the company will in the period from 24 April 2024 until 23 July 2024 purchase own shares up to a maximum value of DKK 1,000 million, and no more than 1,700,000 shares, corresponding to 0.79% of the share capital at commencement of the programme. The programme has been implemented in accordance with Regulation No. 596/2014 of the European Parliament and Council of 16 April 2014 (“MAR”) (save for the rules on share buyback programmes set out in MAR article 5) and the Commission Delegated Regulation (EU) 2016/1052, also referred to as the Safe Harbour rules. Trading dayNumber of shares bought backAverage transaction priceAmount DKKAccumulated trading for days 1-25478,1001,023.01489,100,86026:3 June 20247,0001,050.597,354,13027:4 June 20245,0001,055.705,278,50028:6 June20243,0001,096.273,288,81029:7 June 20244,0001,106.174,424,68
Landsbankinn hf.: Offering of covered bonds11.6.2024 11:16:36 CEST | Press release
Landsbankinn will offer covered bonds for sale via auction held on Thursday 13 June at 15:00. An inflation-linked series, LBANK CBI 30, will be offered for sale. In connection with the auction, a covered bond exchange offering will take place, where holders of the inflation-linked series LBANK CBI 24 can sell the covered bonds in the series against covered bonds bought in the above-mentioned auction. The clean price of the bonds is predefined at 99,594. Expected settlement date is 20 June 2024. Covered bonds issued by Landsbankinn are rated A+ with stable outlook by S&P Global Ratings. Landsbankinn Capital Markets will manage the auction. For further information, please call +354 410 7330 or email verdbrefamidlun@landsbankinn.is.
Relay42 unlocks customer intelligence with a new insights and reporting module, powered by Amazon QuickSight11.6.2024 11:00:00 CEST | Press release
AMSTERDAM, June 11, 2024 (GLOBE NEWSWIRE) -- Relay42, a leading European Customer Data Platform (CDP), is leveraging Amazon QuickSight to power its new real-time customer intelligence, reporting, and dashboard module. Harnessing the breadth and quality of customer data, the new Insights module empowers marketing teams to dive deep into customer behaviors and gain invaluable insights into the performance of their marketing programs across all online, offline, paid, and owned marketing channels. Preview of the Relay42 Insights module, in pre-beta version Key capabilities of the Relay42 Insights module include: Deep insights into customer behaviors: With the Relay42 Insights module, marketers can ask unlimited questions about their data and gain a deeper understanding of how to serve their customers more effectively. Simplicity with AI-powered querying: Marketers can use artificial intelligence to query their data using natural language search, reducing the reliance on data scientists. Us
Metasphere Labs Announces X Spaces Event on the Topic of Green Bitcoin Mining and Sound Money for Sustainability11.6.2024 10:30:00 CEST | Press release
VANCOUVER, British Columbia, June 11, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere Labs" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce an engaging Twitter Spaces event on Green Bitcoin mining, energy markets, and sustainability on July 3, 2024 at 2 p.m. ET. Follow us on X at MetasphereLabs for updates and to join the event. What We'll Discuss Bitcoin Mining Basics: Understand the fundamentals of Bitcoin mining.Energy Market Dynamics: Explore how Bitcoin mining interacts with energy markets.Sustainable Innovations: Learn about our efforts to promote sustainability in Bitcoin mining.Sound Money: Discover how tamper-proof currency can enhance stability.Efficient Payment Rails: See how fast, neutral payment systems support humanitarian projects.Carbon Footprint: Compare Bitcoin's environmental impact with traditional banking. "We're excited to host this event and dive into the critical topics of Bitcoin