OULU, FINLAND — Scanfil reported that its turnover for the quarter was EUR 211.9 million, an increase of 26.3% compared to the same quarter in 2021, while turnover for January–September was EUR 621.4 million, an increase of 23.3% compared to the previous year.

Scanfil estimates that its turnover for 2022 will be EUR 800–880 million.

"“The turnover for the third quarter of the year increased by 26 percent compared to last year, and it was EUR 211.9 million. Customer demand was strong in all customer segments. Individual customer products with a strong demand were analyzers, building heating systems, elevators, parcel lockers, reverse vending machines and process automation systems," said Scanfil CEO Petteri Jokitalo.

"Our customers indicate further strengthening demand for the last quarter of the year. The near-term business risks are related to the availability of electronic components, especially semiconductors, the development of the COVID-19 pandemic, especially in China, the effects of the war in Ukraine and the economic development especially in Europe. Even if the availability of electronic components is improving, the availability issues of semiconductors are expected to continue next year. We see that spot market purchases and the resulting transitory invoicing is on a clear downward trend and to decrease rapidly as the availability of components improves. This also has a positive effect on inventories," he said. "To strengthen our position and delivery capabilities in North America, we have decided to invest in an electronics manufacturing line (SMT line) in our factory in Atlanta. The investment enables the manufacturing of Printed Circuit Board Assemblies used in the final products assembled in Atlanta and expanding our customer offering to both existing and new customers in the North America. The total value of the investment is about EUR 4 million and the line is expected to be in use in the third quarter of 2023."