SIEVI, FINLAND – Scanfil Group posted second quarter revenue of €151.7 million (US$173.4 million), up 14.6% year-over-year.

Net profit was €8 million, an increase of 86% compared to the second quarter of 2017.

Operating profit was €11.2 million, up 57.7%, 7.4% of revenue.

“The second quarter was a record one in terms of sales and operating profit,” said Petteri Jokitalo, CEO of Scanfil. “We continued on the same lines as in the first quarter of this year. Turnover grew by about 15% on the same period last year, and operating profit was up 59% year-on-year. With the exception of the Networks & Communication segment, every segment grew compared to the year-on-year level. The Other Industries segment grew particularly strongly, and the Urban Applications segment and the Medtec, Life Science, Environmental Measurements segment both grew by more than 10% year-on-year.

“Component availability continued to be an issue during the quarter. This required constant attention and actions, as well as seamless cooperation with customers and suppliers. With successful measures and good cooperation, however, we were able to ensure material availability and customer deliveries without any serious disturbance.”

For the first six months of 2018, Scanfil reported revenue of €291.3 million, up 14.4% year-over-year. Net profit for the first half of the year was €15.5 million, growth of 52%. Operating profit was €21.5 million, up 63%.

Scanfil estimates revenue for 2018 will be €545 million to €585 million, and operating profit will amount to €36 million to €40 million.

Ed.: €1 = US$1.14

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