SIEVI, FINLAND – Scanfil Group reported second quarter revenue of €142.6 million (US$159.7 million), down 6% year-over-year.

Sales grew in all segments, except Medtec and Life Science. The acquisition of HASEC-Elektronik in May had an effect of about €1.5 million in revenue during the second quarter. The business operations of HASEC-Elektronik have been consolidated with Scanfil since June 17.

Net profit was €4.6 million, a decrease of 42.5% compared to the second quarter of 2018.

Operating profit was €6.4 million, 4.5% of revenue, compared to $11.2 million in the same period last year.

The net cash flow from operations in the quarter was €7.8 million.

For the first six months of 2019, Scanfil posted total revenue of €272.5 million, down 6.5% year-over-year. Net profit for the period was €9.4 million, a decrease of 39.4%.

Scanfil expects 2019 revenue between €580 million and €610 million and operating profit of €39 million to €42 million.

Ed.: €1 = US$1.12

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