ESPOO, FINLAND – Aspocomp Group reported 2015 net sales of EUR 17.5 million (US$ 19.3 million), down 17% year-over-year. Net sales decreased as a result of weaker demand from a few major customers, the firm says.

The five largest customers accounted for 47% of net sales compared to 63% in 2014. In geographical terms, 93% of net sales were generated in Europe, 5% in Asia, and 2% in North America.

EBITDA for the year was EUR 0, compared to a net loss of EUR 300,000 in 2014. The company posted an operating loss of EUR 1.2 million, compared to a loss of EUR 2 million in the previous year.

During 2015, the highest net sales were seen in October to December, at EUR 4.8 million, with a year-over-year increase of EUR 700,000. However, fourth-quarter net sales fell short of expectations, as demand and order intake slowed sharply in December, says Aspocomp.

As Aspocomp’s business is still dependent on prototypes and quick-turn deliveries, the company’s order book is short, the firm says. In
2016, net sales are expected to grow, with operating results in the black. Globally, the printed circuit board market is not expected to grow in 2016. The company expects slower demand in the beginning of the year for consumer electronics, particularly smartphones and other media devices.

Aspocomp seeks sales growth, particularly in the automotive industry, industrial electronics and various types of security applications, such as security cameras and separate or government networks.

Ed.: EUR 1 = US$1.104