OULU, FINLAND – Scanfil reported turnover of €222.3 million ($237.6 million) for the fourth quarter, an increase of 15.9% from the €191.7 million ($204 million) reported for the same quarter in 2021.

For 2022 as a whole, the company saw a 21.3 % sales increase from 2021's total of €695.7 million ($740.2 million) to reach €843.8 million ($897.8 million), and Scanfil estimates that its turnover for 2023 will be €820 million to €890 million ($872.5 million to $947 million).

"I am satisfied with our performance in 2022. At the start of the year we had a strong customer demand which strengthened further during the year. The year progressed upward both in terms of turnover and operating profit and ended with a record-breaking last quarter," said CEO Petteri Jokitalo. "Our focus was clear and we concentrated on organic growth and managing the risks of cost inflation and operating environment. The operating environment was demanding and headwinds were brought by the availability challenges of electronic components, cost inflation, the corona situation especially in China. To meet the growing customer demand, we invested in production capacity at the factories in Suzhou, Malmö and Wutha. As a whole, we made strong progress! I would like to thank our dedicated employees for their good work and our customers for their support and trust."