SIEVI, FINLAND – Scanfil Group reported third quarter revenue of EUR 152.3 million (US$168.8 million), up 15.8% year-over-year.

More than half of the growth was organic, and the rest was from the acquisition of HASEC-Elektronik made in June, the firm says.

Net profit was EUR 8.8 million, up 27.5% compared to the same quarter in 2018. Operating profit was EUR 12.1 million, 7.9% of revenue, an increase of 38%.

For the first nine months of 2019, revenue totaled EUR 424.8 million, up 0.5% year-over-year. Net profit was EUR 18.3 million, down 18.7% compared to the same period last year. Operating profit was EUR 25.3 million, 6% of revenue, down 16.5%.

Scanfil expects full-year 2019 revenue of EUR 570 million to EUR 590 million and adjusted operating profit of EUR 39 million to EUR 41 million.

Ed.: EUR 1 = US$1.11