MALMO, SWEDEN -- Scanfil today lowered its 2023 full year revenue outlook, stating that while overall demand is "significantly higher" than in 2022, the electronics manufacturing services company sees a "slight softening" in the market driven by customers destocking as supply chain challenges have faded.

Profitability is expected to remain strong for the remainder of the year, the EMS firm added in a statement.

Scanfil now estimates sales for 2023 will be in the range of EUR 880 million to 920 million and adjusted operating profit will be EUR 60 million to 66 million.

The previous outlook for 2023, issued on July 10, projected sales of EUR 900 million to 950 million and an adjusted operating profit of EUR 61 million to 68 million.