Aspocomp Group Oyj

Aspocomp Group Plc announced that it will enhance its Management Team with the appointment of Hanna-Leena Keskitalo as HR Director, effective January 20, 2025. Keskitalo, who holds a Master's degree in Technology, has a background in human resources management at companies like Oulun Energia Oy and Orbis Systems Oy. CEO Manu Skyttä expressed confidence in her ability to strengthen the company's management amid employee growth. The Management Team will include Manu Skyttä (President and CEO), Antti Ojala (CCO and Deputy CEO), Pekka Holopainen (COO), Jouni Kinnunen (CFO), Hanna-Leena Keskitalo (HR Director), and Mitri Mattila (CTO), all reporting to Skyttä. Aspocomp specializes in printed circuit board technology and serves global customers in telecommunications, automotive, and industrial electronics. The company is based in Espoo, Finland, with a production plant in Oulu.

Aspocomp Group Plc's Shareholders’ Nomination Board has made proposals for the company's Annual General Meeting scheduled for April 29, 2025. They propose electing four members to the Board of Directors, including re-electing current members Anssi Korhonen and Ville Vuori, and electing new members Jenni Enroth and Kaisa Kokkonen. Current board members Päivi Marttila, Kaarina Muurinen, and Jukka Huuskonen will not seek re-election. The nominees have been evaluated as independent of the company and its significant shareholders. The Nomination Board recommends maintaining the current remuneration levels for the board, with specific amounts for the chairman, vice chairman, and other members, along with meeting fees and travel reimbursements. The Shareholders’ Nomination Board consists of representatives from the three largest shareholders, with Päivi Marttila, Kyösti Kakkonen, and Mikko Montonen as members. Aspocomp provides PCB technology and services, with a focus on telecommunications, automotive, industrial electronics, and semiconductor testing systems. The company is based in Espoo, Finland, with a production plant in Oulu.

Aspocomp Group Plc reported a recovery in demand for its products during the third quarter of 2024, especially in the Semiconductor Industry segment, although this was not reflected in net sales due to sluggish demand earlier in the year. The company reiterated its guidance that net sales and operating results for 2024 would be below 2023 levels. For the third quarter, net sales decreased by 21% year-on-year to EUR 6.4 million, and the operating result was a loss of EUR 1.2 million, influenced by low sales, higher personnel costs, and extended production times. The Semiconductor Industry segment saw a 49% decline in third-quarter net sales year-on-year, while other segments like Security, Defense and Aerospace saw a 9% increase. The company's order book grew due to strong demand in the Semiconductor Industry segment. Aspocomp is focusing on increasing and stabilizing production volumes to improve profitability and cash flow. Investments were EUR 0.2 million, and cash flow from operations was negative due to increased working capital. The company has been addressing production and capacity challenges, with recruitment efforts ongoing to support increased demand. Risks include geopolitical tensions, economic uncertainties, and dependence on key customers. The company announced its financial release schedule for 2025 and highlighted the potential impacts of global market trends on its business.

Aspocomp Group Plc announced that it will publish its January-September 2024 Interim Report on October 23, 2024, at around 9:00 a.m. Finnish time, earlier than the previously announced date of October 30, 2024. For more information, contact Manu Skyttä, President and CEO. Aspocomp specializes in providing printed circuit board (PCB) technology design, testing, and logistics services. The company serves clients in telecommunications, automotive, industrial electronics, and semiconductor testing sectors globally. Aspocomp is headquartered in Espoo, Finland, with a production plant in Oulu.

Aspocomp Group Plc announced the appointment of three members to its Shareholders' Nomination Board on September 17, 2024. The appointed members are Päivi Marttila (representing Etola Group and Erkki Etola), Kyösti Kakkonen (representing Joensuun Kauppa ja Kone Oy), and Mikko Montonen (Aspocomp’s third-largest shareholder). The Nomination Board consists of representatives from the company's three largest shareholders, determined annually based on ownership data as of the first business day of September. The Board is responsible for making proposals regarding the number, remuneration, and composition of the Board of Directors to the Annual and Extraordinary General Meetings. For more information, contact Manu Skyttä, President and CEO of Aspocomp Group Plc. Aspocomp specializes in printed circuit board (PCB) technology and provides design, testing, and logistics services. The company is headquartered in Espoo, Finland, with a production plant in Oulu, and serves global customers primarily in telecommunications, automotive, industrial electronics, and semiconductor testing sectors.

Aspocomp Group Plc has revised its financial guidance for 2024, now expecting both net sales and operating results to be below 2023 levels. This adjustment is due to delays in increasing production capacity and weakened demand in its PCB brokerage business. In 2023, the company reported net sales of EUR 32.3 million and an operating loss of EUR 1.7 million. Previously, Aspocomp had anticipated growth in both areas for 2024. Despite the lowered guidance, the Semiconductor customer segment shows strong growth prospects, leading to an end of layoffs and new recruitment efforts. Aspocomp’s Interim Report for January-September 2024 will be released on October 30, 2024.

Aspocomp Group Plc's half-year report for 2024 highlights a challenging operating environment due to inflation, high interest rates, weak economic development, geopolitical tensions, and global trade policy issues. Despite these challenges, the company expects a gradual recovery in demand for its products, particularly in the Semiconductor segment, starting in the first half of 2024. For the second quarter of 2024, Aspocomp reported a 26% year-on-year decrease in net sales to EUR 7.0 million, largely due to weak demand in the Semiconductor and Telecommunication segments. The operating result for the quarter was a loss of EUR 1.2 million, influenced by reduced net sales, an unfavorable product mix, and quality assurance issues. The company has ended staff layoffs and begun recruitment to increase production capacity in response to improving demand. In the first half of 2024, net sales decreased by 28% year-on-year to EUR 13.3 million, with significant declines in the Semiconductor and Telecommunication segments. The operating result for this period was a loss of EUR 2.8 million. Investments during the review period focused on upgrading the Oulu plant's capacity, automation, and production efficiency. Aspocomp's CEO, Manu Skyttä, who took office in May 2024, expressed optimism about the company's future prospects, emphasizing the company's strong reputation and committed staff. The company maintains its guidance that net sales and operating results for 2024 will improve compared to 2023. Key financial metrics include a decrease in the order book to EUR 11.3 million, a negative cash flow from operations of EUR -3.1 million, and an equity ratio of 57.8%. The company also reported on its share-based long-term incentive scheme for top management and key employees. At the Annual General Meeting in April 2024, the company decided not to pay dividends for 2023, re-elected board members, and authorized the board to issue shares and other special rights. The board also established a Remuneration Committee. Aspocomp's risk assessment highlights potential impacts from geopolitical tensions, economic uncertainty, cyber risks, and disruptions in supply chains. The company's main market area is Northern and Central Europe, and it remains vulnerable to demand fluctuations and changes in the global PCB market. The next financial release is scheduled for October 30, 2024.

Aspocomp Group Plc announced that its Board of Directors has approved a new performance period for its share-based long-term incentive scheme, covering the years 2024–2026. This plan, aimed at top management and selected key employees, will start in early 2024, with potential share rewards paid in the first half of 2027, based on cumulative EBIT and total shareholder return (absolute TSR) performance targets. Up to 20 employees, including the Management Team, are eligible to participate, with a maximum of 200,000 shares available as rewards if all targets are met. The value of the rewards is capped based on Aspocomp’s share price development. Management Team members are recommended to retain a significant portion of their shares until their value reaches specific salary-related thresholds. For more details, contact President and CEO Manu Skyttä. Aspocomp specializes in PCB technology and serves various industries, with a focus on telecommunications, automotive, and industrial electronics. The company is headquartered in Espoo, Finland, with a production plant in Oulu.