Scanfil's Sales, Profits on Rise; New CEO Named PDF Print E-mail
Written by Mike Buetow   
Monday, 25 February 2013 10:26

FINLAND -- EMS firm Scanfil reported December quarter sales rose 5% to 40.8 million euros, while net profits rose from flat to 300,000 euros.

The operating profit was 700,000 euros, up from a loss of 900,000 euros last year.

During the period, demand for professional electronics products, which makes up 75% of the contract assembler's revenues, was stable throughout the year. Demand for telecommunications remained soft. Scanfil EMS Oy laid off 64 workers at its Sievi, Finland, plant, as well as an undisclosed number at its Hangzhou, China, factory. Demand increased at Scanfil's sites in Hungary and Estonia.

For the year, revenue fell 14% from a year ago to 180.9 million euros. Operating profit was 8.1 million euros, down 11%. The net profit was down 9% to 5.7 million. Based on customer location, Finland (42%) was the largest revenue source, followed by rest of Europe (19%), Asia (37%) and the US (1%).

Harri Takanen, CEO of Scanfil plc, said, "2012 was challenging. Slow growth in the global economy and its effects impacted the operations of the company's customers, making the contract manufacturing market more difficult."

Separately, Scanfil has named Petteri Jokitalo CEO.




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