Ankündigung • Jun 09
Incap Corporation Temporarily Closes Us Factory in Pennsylvania Due to Power Outage Incap Corporation informed that severe storms near its US factory in Pennsylvania have caused a power outage in the area. As a result, the factory has been temporarily closed as of Monday June 8. Production at the factory is temporarily stopped due to the lack of electricity. While power restoration was initially expected earlier, the timing of restoration and the subsequent restart of the production remains uncertain. Incap has activated its contingency procedures, and local teams are actively managing the situation. The company is in close contact with its customers and is assessing the potential impact on deliveries. Incap is developing plans to mitigate any delays and is preparing to resume production as soon as conditions allow. Currently, Incap estimates that the temporary closing will not have a significant financial impact on Incap Corporation. The company continues to assess the impacts and will provide further updates as the situation progresses. Board Change • May 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 2 highly experienced directors. Independent Director Julianna Borsos was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 21
Full year 2025 earnings released: EPS: €0.47 (vs €0.77 in FY 2024) Full year 2025 results: EPS: €0.47 (down from €0.77 in FY 2024). Revenue: €215.2m (down 6.9% from FY 2024). Net income: €14.0m (down 39% from FY 2024). Profit margin: 6.5% (down from 9.8% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Feb 27
Full year 2025 earnings released: EPS: €0.47 (vs €0.77 in FY 2024) Full year 2025 results: EPS: €0.47 (down from €0.77 in FY 2024). Revenue: €217.0m (down 6.1% from FY 2024). Net income: €14.0m (down 39% from FY 2024). Profit margin: 6.4% (down from 9.8% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. New Risk • Feb 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.4% Last year net profit margin: 9.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. New Risk • Dec 07
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Ankündigung • Dec 05
Incap Oyj (HLSE:ICP1V) agreed to acquire Lacon Electronic GmbH for €50 million. Incap Oyj (HLSE:ICP1V) agreed to acquire Lacon Electronic GmbH for €50 million on December 3, 2025. The purchase price €50 million, payable to the sellers in cash at closing. The acquisition agreement includes a possible earn-out payment to be paid to the sellers in 2027, amounting to €5 million, at the maximum. The earn-out is based on Lacon Group’s financial performance in 2026 and the maximum amount would be reached with an EBITDA of €10.5 million The transaction will be financed with Incap’s own funds and a bank loan of approximately €30 million.
The closing of the agreement is subject to the applicable foreign direct investment control clearances in Germany and Romania and is expected to occur in the first quarter of 2026.
Sebastian Kamm, Florian Streiber, Sascha Dethof, Anita Malec, Marcus Kamp, Thorsten Ihler, Bahne Sievers, Inga Wömmel, Matthias Berger, André Suttorp of Fieldfisher (Germany) LLP acted as legal advisors to Incap Oyj. Reported Earnings • Jul 27
Second quarter 2025 earnings released: EPS: €0.03 (vs €0.17 in 2Q 2024) Second quarter 2025 results: EPS: €0.03 (down from €0.17 in 2Q 2024). Revenue: €55.6m (down 3.5% from 2Q 2024). Net income: €873.0k (down 83% from 2Q 2024). Profit margin: 1.6% (down from 8.8% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 16% per year whereas the company’s share price has fallen by 11% per year. Ankündigung • Jul 25
Incap Corporation Provides Earnings Guidance for the Full Year 2025 Incap Corporation provided earnings guidance for the full year 2025. for the year, the company expects revenue of EUR 210 million to EUR 230 million and operating profit (EBIT) of EUR 23 million to EUR 29 million. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €10.30, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Electronic industry in the United Kingdom. Total loss to shareholders of 24% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €16.95 per share. Reported Earnings • Apr 17
Full year 2024 earnings released: EPS: €0.77 (vs €0.68 in FY 2023) Full year 2024 results: EPS: €0.77 (up from €0.68 in FY 2023). Revenue: €231.2m (up 4.3% from FY 2023). Net income: €22.7m (up 15% from FY 2023). Profit margin: 9.8% (in line with FY 2023). Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 11% per year. Reported Earnings • Mar 02
Full year 2024 earnings released: EPS: €0.77 (vs €0.68 in FY 2023) Full year 2024 results: EPS: €0.77 (up from €0.68 in FY 2023). Revenue: €231.7m (up 4.5% from FY 2023). Net income: €22.7m (up 15% from FY 2023). Profit margin: 9.8% (in line with FY 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Ankündigung • Feb 21
Incap Oyj to Report Fiscal Year 2024 Final Results on Apr 14, 2025 Incap Oyj announced that they will report fiscal year 2024 final results at 10:00 AM, USSR Zone1 on Apr 14, 2025 Reported Earnings • Oct 27
Third quarter 2024 earnings released: EPS: €0.17 (vs €0.15 in 3Q 2023) Third quarter 2024 results: EPS: €0.17 (up from €0.15 in 3Q 2023). Revenue: €62.9m (up 26% from 3Q 2023). Net income: €4.94m (up 12% from 3Q 2023). Profit margin: 7.9% (down from 8.8% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 9% per year. Reported Earnings • Jul 28
Second quarter 2024 earnings released: EPS: €0.17 (vs €0.19 in 2Q 2023) Second quarter 2024 results: EPS: €0.17 (down from €0.19 in 2Q 2023). Revenue: €57.9m (up 2.5% from 2Q 2023). Net income: €5.06m (down 11% from 2Q 2023). Profit margin: 8.8% (down from 10% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 9% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jul 02
Now 26% undervalued Over the last 90 days, the stock has risen 30% to €12.13. The fair value is estimated to be €16.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 13% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Buy Or Sell Opportunity • Jun 10
Now 20% undervalued Over the last 90 days, the stock has risen 34% to €12.35. The fair value is estimated to be €15.44, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 20% over the last 3 years. Earnings per share has grown by 11%. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 15% per annum over the same time period. Valuation Update With 7 Day Price Move • May 16
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to €12.01, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Electronic industry in the United Kingdom. Total returns to shareholders of 58% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €15.35 per share. Ankündigung • May 11
Incap Oyj Announces Audit and Remuneration Committee Appointments The Board of Directors of Incap Oyj decided to establish two Committees, an Audit Committee and a Remuneration Committee. Kaisa Kokkonen was elected as the Chairman and Julianna Borsos and Antti Pynnönen as members of the Audit Committee. Ville Vuori was elected Chairman and Carl-Gustaf von Troil and Otto Pukk as members of the Remuneration Committee. Reported Earnings • May 10
First quarter 2024 earnings released: EPS: €0.17 (vs €0.29 in 1Q 2023) First quarter 2024 results: EPS: €0.17 (down from €0.29 in 1Q 2023). Revenue: €51.5m (down 29% from 1Q 2023). Net income: €4.95m (down 41% from 1Q 2023). Profit margin: 9.6% (down from 12% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Electronic industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 8% per year. Reported Earnings • Apr 07
Full year 2023 earnings released: EPS: €0.68 (vs €0.94 in FY 2022) Full year 2023 results: EPS: €0.68 (down from €0.94 in FY 2022). Revenue: €221.7m (down 16% from FY 2022). Net income: €19.8m (down 28% from FY 2022). Profit margin: 8.9% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Electronic industry in the United Kingdom. Valuation Update With 7 Day Price Move • Feb 29
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to €8.81, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 16x in the Electronic industry in the United Kingdom. Total loss to shareholders of 50% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €15.99 per share. Reported Earnings • Feb 23
Full year 2023 earnings released: EPS: €0.68 (vs €0.94 in FY 2022) Full year 2023 results: EPS: €0.68 (down from €0.94 in FY 2022). Revenue: €222.0m (down 16% from FY 2022). Net income: €19.8m (down 28% from FY 2022). Profit margin: 8.9% (down from 11% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Electronic industry in the United Kingdom. Ankündigung • Feb 22
Incap Oyj Appoints David Spehar as Member of Management Team Incap Oyj announced David Spehar (born 1967, MBA, Industrial Engineering) has been appointed member of Incap Group’s Management Team as of 21 February 2024. Mr. Spehar joined Incap in July 2023 through the acquisition of Pennatronics Inc., an Electronics Manufacturing Services company in Pennsylvania, USA. He has 17 years of experience with Pennatronics as General Manager and VP of Operations at the company’s factory outside of Pittsburgh, Pennsylvania. On 7 July 2023, he was appointed Managing Director of Incap Electronics US Inc., and he will continue in that position. As of 21 February 2024, the members of Incap Corporation’s Management Team are President & CEO, Otto Pukk; Director of Operations, India and Sales APAC, Murthy Munipalli; Director of Operations, Estonia, Margus Jakobson; Director of Operations, Slovakia, Miroslav Michalik; Director of Operations, U.K., Jamie Maughan; Director of Operations, U.S., David Spehar and CFO Antti Pynnönen. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €7.07, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total loss to shareholders of 54% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €13.93 per share. Reported Earnings • Oct 26
Third quarter 2023 earnings released: EPS: €0.15 (vs €0.28 in 3Q 2022) Third quarter 2023 results: EPS: €0.15 (down from €0.28 in 3Q 2022). Revenue: €50.5m (down 32% from 3Q 2022). Net income: €4.42m (down 46% from 3Q 2022). Profit margin: 8.8% (down from 11% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Electronic industry in the United Kingdom. New Risk • Oct 10
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.1% per year for the foreseeable future. Minor Risk Share price has been volatile over the past 3 months (7.4% average weekly change). New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Oct 06
Investor sentiment deteriorates as stock falls 27% After last week's 27% share price decline to €6.36, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 18x in the Electronic industry in the United Kingdom. Total loss to shareholders of 50% over the past year. Reported Earnings • Jul 29
Second quarter 2023 earnings released: EPS: €0.19 (vs €0.19 in 2Q 2022) Second quarter 2023 results: EPS: €0.19. Revenue: €56.7m (down 7.6% from 2Q 2022). Net income: €5.69m (flat on 2Q 2022). Profit margin: 10.0% (in line with 2Q 2022). Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electronic industry in the United Kingdom. Ankündigung • Jul 29
Incap Oyj Re-Affirms Earnings Guidance for the Year 2023 Incap Oyj re-affirmed earnings guidance for the year 2023. As communicated on 18 April 2023, the company estimates that its revenue and operating profit (EBIT) for 2023 will be lower than in 2022. Ankündigung • Jul 07
Incap Oyj (HLSE:ICP1V) acquired Pennatronics Corporation. Incap Oyj (HLSE:ICP1V) entered into an agreement to acquire Pennatronics Corporation for $26.3 million on July 1, 2023. The enterprise value of the acquired company is 18.6 million. In addition to this, approximately $1.6 million will be paid with Incap's shares to the owners of the acquired company. The acquisition agreement includes an additional payment in the form of a potential earn-out that will be paid in 2024 depending on Pennatronics' business performance during the financial year ending in March 2024. Its maximum amount is $3 million based on Pennatronics' EBITDA during the financial year ending in March 2024. Incap may at a later stage, subject to market conditions, explore the option of equity financing to optimize its capital structure. Pennatronics' revenue for the financial year that ended on 31 March 2023 was $30 million, and EBITDA was $2.9 million, or 10 percent of net sales.
The closing of the agreement will occur after the 4th of July festivities in the U.S. The closing is not subject to any approval by competition authorities or any other conditions precedent. Pennatronics' figures will be included in Incap Group's reporting as of July 2023. The transaction is estimated to have a positive impact on Incap Corporation's revenue in 2023. Additionally, the transaction is expected to have a slightly positive impact on operating profit (EBIT) due to one-time integration and transaction costs as well as the purchase price allocation amortization. The amount of integration costs incurring will be specified in more detail during the financial year 2023.
After the acquisition, the former owners of Pennatronics, Ralph B. Andy and Keith D. James, are committed to support Incap over the transition period.
Incap Oyj (HLSE:ICP1V) acquired Pennatronics Corporation on July 5, 2023. Pennatronics Inc. will be named as Incap Electronics US, Inc. and the company will start the brand change process. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €10.78, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 21x in the Electronic industry in the United Kingdom. Total loss to shareholders of 2.5% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €16.99 per share. Board Change • May 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 1 highly experienced director. Independent Director Kaisa Kokkonen was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Apr 18
Investor sentiment deteriorates as stock falls 39% After last week's 39% share price decline to €11.04, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 21x in the Electronic industry in the United Kingdom. Total loss to shareholders of 24% over the past year. Buying Opportunity • Apr 18
Now 41% undervalued after recent price drop Over the last 90 days, the stock is down 38%. The fair value is estimated to be €18.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 44% over the last 3 years. Earnings per share has grown by 46%. For the next 3 years, revenue is forecast to grow by 9.3% per annum. Earnings is also forecast to grow by 10% per annum over the same time period. Reported Earnings • Apr 05
Full year 2022 earnings released: EPS: €0.94 (vs €0.72 in FY 2021) Full year 2022 results: EPS: €0.94 (up from €0.72 in FY 2021). Revenue: €263.8m (up 55% from FY 2021). Net income: €27.6m (up 31% from FY 2021). Profit margin: 11% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Electronic industry in the United Kingdom. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to €17.31, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 23x in the Electronic industry in the United Kingdom. Total returns to shareholders of 29% over the past year. Reported Earnings • Feb 22
Full year 2022 earnings released: EPS: €0.94 (vs €0.72 in FY 2021) Full year 2022 results: EPS: €0.94 (up from €0.72 in FY 2021). Revenue: €264.4m (up 56% from FY 2021). Net income: €27.6m (up 31% from FY 2021). Profit margin: 10% (down from 12% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electronic industry in the United Kingdom. Ankündigung • Feb 02
Incap Corporation Appoints Margus Jakobson as Member of Management Team Incap’s Margus Jakobson appointed member of Incap Group’s Management Team. Margus Jakobson (born 1979, Civ. Eng.), interim Managing Director of Incap Estonia, has been appointed member of Incap Group’s Management Team as well as Director of Operations Estonia and Managing Director of Incap Estonia as of 1 February 2023. Margus Jakobson joined Incap Estonia in 2016 and has previously been Member of Incap Estonia’s Management responsible for QHSE, process and strategy development. Before joining Incap Margus Jakobson held several managerial positions at electronics and technology companies such as ETAL Group, Nordic Houses and Pharmadule, among others. As of 1 February 2023, the members of Incap Group’s Management Team are Otto Pukk, President and CEO; Margus Jakobson, Director of Operations Estonia; Murthy Munipalli, Director of Operations India and Sales APAC; Jamie Maughan, Director of Operations UK; Miroslav Michalik, Director of Operations Slovakia and Antti Pynnönen, CFO. Buying Opportunity • Dec 07
Now 21% undervalued Over the last 90 days, the stock is up 24%. The fair value is estimated to be €20.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last 3 years. Earnings per share has grown by 41%. For the next 3 years, revenue is forecast to grow by 12% per annum. Earnings is also forecast to grow by 12% per annum over the same time period. Valuation Update With 7 Day Price Move • Oct 18
Investor sentiment improved over the past week After last week's 19% share price gain to €15.18, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 19x in the Electronic industry in the United Kingdom. Total returns to shareholders of 24% over the past year. Reported Earnings • Jul 29
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (down €7.76m from profit in 1H 2021). Profit margin: (down from 11% in 1H 2021). The decrease in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 10%, compared to a 9.6% growth forecast for the industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jul 21
Investor sentiment improved over the past week After last week's 18% share price gain to €13.40, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Electronic industry in the United Kingdom. Total returns to shareholders of 83% over the past year. Valuation Update With 7 Day Price Move • May 10
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €12.12, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 25x in the Electronic industry in the United Kingdom. Total returns to shareholders of 68% over the past year. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €59.80, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 22x in the Electronic industry in the United Kingdom. Total returns to shareholders of 676% over the past three years. Buying Opportunity • Mar 05
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 6.8%. The fair value is estimated to be €80.48, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 35% per annum over the last 3 years. Earnings per share has grown by 32% per annum over the last 3 years. Reported Earnings • Feb 26
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €3.60 (up from €2.02 in FY 2020). Revenue: €170.0m (up 58% from FY 2020). Net income: €21.1m (up 129% from FY 2020). Profit margin: 12% (up from 8.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 22%, compared to a 6.7% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Buying Opportunity • Feb 04
Now 21% undervalued Over the last 90 days, the stock is up 2.0%. The fair value is estimated to be €91.28, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 30% per annum over the last 3 years. Earnings per share has grown by 25% per annum over the last 3 years. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €61.53, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 26x in the Electronic industry in the United Kingdom. Total returns to shareholders of 768% over the past three years. Valuation Update With 7 Day Price Move • Oct 27
Investor sentiment improved over the past week After last week's 21% share price gain to €74.00, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 32x in the Electronic industry in the United Kingdom. Total returns to shareholders of 1,122% over the past three years. Valuation Update With 7 Day Price Move • Oct 12
Investor sentiment improved over the past week After last week's 16% share price gain to €57.40, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 30x in the Electronic industry in the United Kingdom. Total returns to shareholders of 813% over the past three years. Ankündigung • May 12
Incap to Close Down Temporarily Its Factories in India To contain the worsening coronavirus pandemic situation, the government of Karnataka has announced stricter measures. As a result, Incap has closed down temporarily its factories in Tumkur, Karnataka from 10 May until 24 May 2021. The closure of the factories does not have an impact on its outlook for 2021 published on 21 April 2021. Incap estimates that its revenue, operating profit (EBIT) and adjusted operating profit (EBIT) for 2021 will be clearly higher than in 2020. Ankündigung • Mar 05
Incap Corporation Promotes Miroslav Michalik to the Position of Managing Director Incap Corporation has decided to promote Miroslav Michalik to the position of Managing Director of Incap Slovakia. Miroslav Michalik has been employed by Incap Slovakia (previously AWS Slovakia) since 2018, working as a Plant Director at the company’s factory in Namestovo. Miroslav Michalik studied electronics at secondary school and went on to study production and general management at degree-level. Before joining Incap, he held several roles in companies within the electronics sector, from process engineer to plant manager and managing director. Before holding positions at Incap and AWS Group, Miroslav Michalik held the position of managing director at Giesecke+Devrient Slovakia, providing smart payment, ID, passport, and telecommunication card solutions. Prior to that, Miroslav Michalik was a plant manager at Visteon (formerly Johnson Controls Automotive), providing solutions for automotive electronics and infotainment. He also held several positions, including operational manager and team director, at the multinational electronics manufacturing services company, Celestica. Ankündigung • Feb 20
Incap Revises Earnings Guidance for the Year 2020 Incap Corporation announced that the company estimates that its revenue for 2020 will be approximately EUR 106.5 million and the operating profit (EBIT) approximately EUR 12.6 million. Previously the company estimated that its revenue for 2020 will be approximately EUR 105 million – EUR 107 million and the operating profit (EBIT) approximately EUR 10.5 million – EUR 11.5 million. 
