Scanfil Group’s Interim Report 1 January – 31 March 2020
SCANFIL PLC INTERIM REPORT 24 APRIL 2020 8.00 A.M.January – March
– Turnover totalled EUR 144.1 million (Q1 2019: 129.9), increase of 10.9%
– Operating profit EUR 8.6 (6.8) million, 6.0% (5.3%) of turnover, increase of 26.1%
– Net profit was EUR 7.5 (4.8) million
– Earnings per share were EUR 0.12 (0.08)
Future outlook
Scanfil estimates that its turnover for 2020 will be EUR 590 – 640 million and adjusted operating profit will amount to EUR 39 – 43 million. The estimation is based on our existing understanding of impact of Coronavirus.The first quarter included no adjustment items.Petteri Jokitalo, CEO of Scanfil plc:
Our turnover during the first quarter was EUR 144.1 million, showing an increase of EUR 14.2 million, or 10.9%, year-on-year. The development of sales was particularly strong in March, compensating for the slower February. Longer than expected, shutdowns of plants in China due to the coronavirus situation had a negative impact on realized sales in February. The delivery capacity of the supply chain did not set any major restrictions on our deliveries during the quarter.We had in our Myslowice plant in Poland a two-week production stop due to coronavirus infections and related quarantine periods among employees. During the production stop, we revisited our plans and procedures to better avoid spreading of the COVID-19 virus in the factory and are ensuring normal operations after re-starting on Monday, April 27. The revisited plan will also be implemented in our other ten factories, where so far we have not experienced any similar disruptions.In conjunction with releasing our Q1 results, we arrange a webcast on 24 April 2020 at 10.00 am. You can follow the webcast https://scanfil.videosync.fi/2020-q1-tulokset. The presentation is in Finnish, and it will be held by CEO Petteri Jokitalo. On-demand recording from the webcast will be available on the company’s webpages later the same day.The material presented in the webcast will be available around 10.00 am in Scanfil’s webpages http://www.scanfil.com/investors.
SCANFIL PLCScanfil is an international contract manufacturer and system supplier for the electronics industry with over 40 years of experience in demanding contract manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.Typical Scanfil products include mobile and communications network devices, automation system modules, frequency converters, lift control systems, analysers, various slot and vending machines, and devices related to medical technology and meteorology. Scanfil services are used by numerous international automation, energy, IT and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of 11 production units in Europe, Asia and North America. The total number of employees is about 3,500.Not to be published or distributed, directly or indirectly, in any country where its distribution or publication is unlawful. Forward looking statements: certain statements in this stock exchange release may constitute “forward-looking” statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Scanfil Oyj to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this stock exchange release, such statements use such words as “may,” “will,” “expect,” “anticipate,” “project,” “believe,” “plan” and other similar terminology. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Scanfil Oyj to be materially different from those contained in forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. The forward-looking information contained in this stock exchange release is current only as of the date of this stock exchange release. There should not be an expectation that such information will in all circumstances be updated, supplemented or revised, except as provided by the law or obligatory regulations, whether as a result of new information, changing circumstances, future events or otherwise.AttachmentScanfil Interim Report Q1_2020
