HELSINKI – Incap Corporation announced that revenue for the fourth quarter amounted to €78.7 million ($83.7 million), an increase of 52.9% from 2021's fourth-quarter revenue of €51.4 million ($54.7 million).

The company saw similar growth for the full year, with 2022's revenue of €263.8 million ($280.7 million) marking a 55.3% increase from 2021's total of €169.8 million ($180.7 million).

"I want to extend my warmest thanks to our customers, partners, and shareholders for their trust in Incap," said President and CEO Otto Pukk. "Incap achieved in year 2022 all-time high revenue and profitability. Considering that the material availability remained difficult throughout the year, team Incap’s performance was particularly strong, and I want to thank our fantastic employees for their hard work.

"We ended 2022 with another strong quarter with revenue of €78.7 million, and our full year 2022 revenue reached €263.8 million, which was 55% more than in 2021. Our profitability remained on a good level with a full year EBIT of 14.8% of revenue," he said. "Our strong growth was driven by the demand for electronics from existing and new customers, all-time-high orderbook and supported with our earlier investments in capacity in our factories. In particular, we saw growth in industrial electronics, green energy and green mobility. Relative profitability remained on a good level thanks to our efficient and cost-effective operational model and favourable product mix."

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