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Aspocomp’s H1 Sales Down 30% YoY

Published: 09 August 2007
 by Staff
HELSINKI – Circuit board manufacturer Aspocomp reported net sales of $70.6 million for the first half of the year, down 30% year-over-year.
 
This figure includes the divestiture of a Chinese plant in April. Removing the effect of this, comparable net sales declined by 17.6%, says the company.
 
Aspocomp lost $56 million in operating profit for the period. The decline was mostly attributable to write-offs amounting to $27.9 million at its Salo plant, and compensation of $13.8 million to former employees of Aspocomp S.A.S, the company states.
 
Plants in Oulu and China continued to turn a profit, adds Aspocomp.

The company’s investment was $66.7 million in the first half of the year, which consisted mostly in the purchase of a minority share of the Chinese subsidiary.

A decision to close down the Salo plant was made in June, and the plant was closed in July. Net sales of the plant waned because of a limited number of products and production ramp-down, the company says.
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