HELSINKI – Incap has lowered its revenue and operating profit estimates for the year after its largest customer postponed some orders from 2023 to 2024. The company now estimates that this year's revenue and operating profit will be lower than 2022.

Incap said its largest customer's growth is smaller than previously expected due to the current change in the market dynamics including improved component availability as well as a recession in some key markets, and the customer has decided to reduce inventory levels as a result.

The company said it expects growing revenue from most of its other customers, but the growth is not enough to compensate for the decreased sales to the largest customer.

Previously Incap estimated that its revenue, operating profit and adjusted operating profit for 2023 would be higher than in 2022.

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