ESPOO, FINLAND – Aspocomp's third quarter net sales increased 47% year-over-year to EUR 5.6 million (US$ 6.2 million).

Operating profit at the printed circuit board fabricator was EUR 200,000, compared to an operating loss of EUR 500,000 in the same period last year.

The five largest customers accounted for 57% of net sales. In geographical terms, 94% of net sales were generated in Europe, 4% in Asia, and 2% in North America.

“Aspocomp’s sales continued to see strong growth in the third quarter, driven by automotive industry customers and the German market,” said CEO Mikko Montonen. “The automotive industry became the company’s largest customer group during the quarter, outperforming telecommunications. The R&D needs of telecommunication customers slowed down in July-August, as typical, but clear signs of improved demand were seen at the end of the third quarter. The company increased its sales successfully in all customer groups compared to the previous year. In relative terms, growth was strongest in the automotive industry and the most moderate in telecommunications.

“Although sales developed very well, there was clearly room for improvement in the operating result. The most significant factors that influenced the result were the maintenance and device installation downtime at the Oulu plant in August, as well as decreased demand for high technology printed circuit boards during the summer season, which weakened the product mix.”

In the January to September period, net sales increased 18% year-over-year to EUR 15 million. Operating loss was EUR 100,000, flat with the previous year.

The five largest customers accounted for 52% of net sales. In geographical terms, 92% of net sales were generated in Europe, 5% in Asia, and 3% in North America.

In 2016, net sales are expected to grow, with operating profit in the black. In 2015, net sales were EUR 17.5 million and operating loss was EUR 1.2 million.

Ed.: EUR 1 = US$ 1.109