OULU, FINLAND – Scanfil reported €779.8 million ($816.9 million) in full-year sales, a decrease of 13.5% compared to the previous year.

For the fourth quarter, the company's sales declined 3.9% year-over-year to total €212.3 million ($222.4 million)

“The fourth quarter was the best quarter of the year, and we delivered an adjusted operating profit of €14 million," said CEO Christophe Sut. "In absolute terms, the improvement was EUR 0.6 million compared to the same period last year. The adjusted operating margin was 6.6%, an increase of 0.5 percentage points from last year.

"The fourth quarter closed a full year where Scanfil demonstrated an ability to defend its operating margin and maintain a solid 6.8% adjusted operating margin in a challenging market situation. Excluding full-year impacts of foreign exchange rates, layoff costs, and material consignment sales, the full-year operating margin reached our long-term target of 7.0% and demonstrated great operational performance throughout the year."

Looking ahead, the company projects 2025 sales of €780 million to €920 million ($817.1 million to $963.8 million)