HELSINKI -- Incap reported revenue growth of 50% for the quarter, with this year's third-quarter earnings coming in at EUR 70.6 million (US$70.6 million).

Year-to-date revenue for the company also saw an increase, with this year's totaling EUR 185.1 million compared to the EUR 118.3 million in revenue from January to September of 2021. Incap estimates that its revenue for 2022 will be significantly higher than in 2021 – totaling EUR 262–270 million.

"I would like to start with thanking our entire Incap team all over the world. Again, we have reached an all-time high result and again our fantastic people have made it happen and delivered," said Incap President and CEO Otto Pukk. "We continue to see a growing demand in several segments from existing and new customers. This contributed to the growth of our revenue in the third quarter to EUR 70.6 million. In particular, we see growth in industrial electronics, green energy and green mobility. Our efficient and cost effective decentralized operational model increased our profitability to the highest level we have seen in Incap’s history.

"The material availability situation is still difficult, and our sourcing teams work hard together with our customers to find different solutions and alternatives to secure deliveries. That said, we are now starting to see the market situation slowly improving, giving confidence for the coming year."