SIEVI, FINLAND – Scanfil reported third quarter revenue of €131.5 million (US$149.2 million), up 0.54% year-over-year.

Profit for the quarter was €6.9 million, an increase of 32.7% compared to the same quarter last year. Operating profit was €8.8 million, 6.7% of revenue, compared to €8.5 million in the same period of 2017.

“As expected, the increase in turnover evened out during the third quarter,” said Petteri Jokitalo, CEO of Scanfil. “The turnover increased in the Energy & Automation, Medtech, and Urban Application segments. Instead, sales decreased in the Networks and Other Industries segments, as expected from the year before.”

For the January to September period, revenue totaled €422.8 million, up 9.7% year-over-year.

Profit for the first nine months of 2018 was €22.5 million, an increase of 47%. Operating profit was €30.3 million, 7.2% of revenue, compared to €21.7 in the same period last year.

Scanfil estimates 2018 revenue of €545 million to €570 million and operating profit of €36 million to €39 million.

Ed.: €1 = US$1.13