Reported Earnings • Jul 30
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: €0.03 (up from €0.02 loss in 2Q 2025). Revenue: €10.6m (up 5.1% from 2Q 2025). Net income: €178.0k (up €319.0k from 2Q 2025). Profit margin: 1.7% (up from net loss in 2Q 2025). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 40%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. New Risk • May 28
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 Finnish stocks, typically moving 7.5% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Market cap is less than US$100m (€45.6m market cap, or US$53.1m). Reported Earnings • May 02
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: €0.02 (down from €0.10 in 1Q 2025). Revenue: €9.74m (down 5.9% from 1Q 2025). Net income: €178.0k (down 75% from 1Q 2025). Profit margin: 1.8% (down from 6.8% in 1Q 2025). Revenue missed analyst estimates by 2.7%. Earnings per share (EPS) also missed analyst estimates by 50%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Feb 26
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: €0.06 (up from €0.51 loss in FY 2024). Revenue: €38.2m (up 39% from FY 2024). Net income: €414.0k (up €3.89m from FY 2024). Profit margin: 1.1% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.9% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 25
Aspocomp Group Oyj Provides Earnings Guidance for 2026 Aspocomp Group Oyj provided earnings guidance for 2026. The company estimated that its net sales for 2026 will grow, and that its operating result for 2026 will improve compared to 2025. Major Estimate Revision • Jan 22
Consensus EPS estimates fall by 70% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €39.7m to €38.8m. EPS estimate also fell from €0.20 per share to €0.06 per share. Net income forecast to grow 42% next year vs 23% growth forecast for Electronic industry in Finland. Consensus price target of €5.00 unchanged from last update. Share price was steady at €5.34 over the past week. Aankondiging • Nov 26
Aspocomp Group Plc Receives EUR 1.75 Million from the European Union’s Just Transition Fund as Business Development Support to Increase Capacity At the Oulu Plant Aspocomp Group Plc has been granted approximately EUR 1.75 million in business development support from the European Union’s Just Transition Fund to increase the PCB manufacturing capacity at its Oulu plant. This development support granted by the Centre for Economic Development, Transport and the Environment of North Ostrobothnia (ELY Centre) is earmarked for the Directed Share Issue and long-term financing arrangements that Aspocomp announced in October (stock exchange release dated October 30, 2025) as well as the company’s updated strategy that Aspocomp announced in November (stock exchange release dated November 3, 2025), in which the company announced investments in expanding the Oulu plant and increasing capacity. With these investments, the company will bolster its position, especially in the printed circuit board market for the defense and semiconductor industries. The support is targeted at a part of the investment project, valued at a total of over EUR 10 million, which will enable the throughput capacity of the Oulu plant to be increased by up to 50%. In addition to increasing the throughput capacity of the Oulu plant, the investment will have positive effects on both the quality of production and the usability of machines and equipment. It will create more than 30 new jobs at the company, most of them at the Oulu plant. The investment project is expected to be completed in the summer of 2027. The total cost of the project, co-financed by the European Union, is EUR 5,840,569 and the development support provides Aspocomp with a total of EUR 1,752,170 in support for equipment investments and related construction costs. EUR 525,052 of this grant will be paid in advance, and the remainder of the grant will be paid on the basis of expenses incurred as the investments are completed in 2026 and 2027. Aankondiging • Nov 05
Aspocomp Group Oyj has completed a Follow-on Equity Offering in the amount of €3.19999 million. Aspocomp Group Oyj has completed a Follow-on Equity Offering in the amount of €3.19999 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 673,682
Price\Range: €4.75
Transaction Features: Subsequent Direct Listing Aankondiging • Nov 04
Aspocomp Group plc Maintains Earnings Guidance for the Year 2025 Aspocomp Group Plc maintained earnings guidance for the year 2025. For the year, Aspocomp maintains the guidance for 2025, presented in the Third Quarter interim report. In 2025, the demand for Aspocomp’s products is expected to remain solid. In particular, demand in the semiconductor market is expected to develop favorably due to significant investments in AI applications and data centers. Good growth in demand is also expected to continue in the Security, Defense, and Aerospace customer segments. Aspocomp estimates that its net sales for 2025 will grow significantly from the 2024 level and that its operating result for 2025 will turn clearly profitable. In 2024, net sales amounted to EUR 27.6 million, and the operating result was a loss of EUR 4.0 million. Aankondiging • Oct 31
Aspocomp Group Oyj has filed a Follow-on Equity Offering in the amount of €3.19999 million. Aspocomp Group Oyj has filed a Follow-on Equity Offering in the amount of €3.19999 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 673,682
Price\Range: €4.75
Transaction Features: Subsequent Direct Listing Aankondiging • Oct 30
Aspocomp Group Plc Provides Earnings Guidance for the Year 2025 Aspocomp Group Plc provided earnings guidance for the year 2025. The company expected net sales for 2025 will grow significantly from the 2024 level, and that its operating result for 2025 will turn clearly profitable. New Risk • Oct 24
New major risk - Revenue and earnings growth Earnings have declined by 43% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 have declined by 43% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€35.3m market cap, or US$41.0m). New Risk • Sep 19
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 Finnish stocks, typically moving 5.6% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (5.6% average weekly change). Market cap is less than US$100m (€34.9m market cap, or US$41.1m). Reported Earnings • Jul 18
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: €0.02 loss per share (improved from €0.19 loss in 2Q 2024). Revenue: €10.1m (up 43% from 2Q 2024). Net loss: €141.0k (loss narrowed 89% from 2Q 2024). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance. New Risk • May 02
New major risk - Revenue and earnings growth Earnings have declined by 45% per year over the past 5 years. 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 declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 45% per year over the past 5 years. Minor Risk Market cap is less than US$100m (€34.8m market cap, or US$39.4m). Reported Earnings • May 02
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: €0.10 (up from €0.24 loss in 1Q 2024). Revenue: €10.3m (up 66% from 1Q 2024). Net income: €705.0k (up €2.37m from 1Q 2024). Profit margin: 6.8% (up from net loss in 1Q 2024). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 19%. Earnings per share (EPS) also surpassed analyst estimates by 67%. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 100 percentage points per year, which is a significant difference in performance. Aankondiging • Apr 29
Aspocomp Group Plc Announces Board and Committee Appointments Aspocomp Group Plc at its AGM held on April 29, 2025, approved the election of Mr. Ville Vuori as the Chairman of the Board. Ms. Kaisa Kokkonen was elected as the Vice Chairman. The Board of Directors established an Audit Committee. Ms. Jenni Enroth and Ms. Kaisa Kokkonen were elected as members of the Audit Committee. New Risk • Mar 04
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 Finnish stocks, typically moving 6.1% 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. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Market cap is less than US$100m (€32.2m market cap, or US$33.9m). Price Target Changed • Mar 02
Price target increased by 21% to €4.00 Up from €3.30, the current price target is provided by 1 analyst. New target price is 5.9% below last closing price of €4.25. Stock is up 38% over the past year. The company is forecast to post earnings per share of €0.30 next year compared to a net loss per share of €0.51 last year. Reported Earnings • Feb 27
Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2024 results: €0.51 loss per share (further deteriorated from €0.24 loss in FY 2023). Revenue: €27.6m (down 14% from FY 2023). Net loss: €3.48m (loss widened 112% from FY 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 23%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Aankondiging • Dec 20
Aspocomp Group Oyj Appoints Hanna-Leena Keskitalo as HR Director and Member of the Management Team, Effective January 20, 2025 Aspocomp Group Oyj appointed Hanna-Leena Keskitalo (born 1983), M.Sc. (Tech.), as HR Director and a member of the Aspocomp Management Team as of January 20, 2025. She has previous experience in human resources management at, among others, Oulun Energia Oy and Orbis Systems Oy. Aspocomp’S Management Team Includes as of January 20, 2025: Mr. Manu Skyttä, President and CEO, Mr. Antti Ojala, Cco and Deputy CEO, Mr. Pekka Holopainen, COO, Mr. Jouni Kinnunen, CFO Ms. Hanna-Leena Keskitalo, Hr Director, and Mr. Mitri Mattila, CTO. the Members of the Management Team Report to Manu Skyttä, President and CEO. New Risk • Nov 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Finnish stocks, typically moving 6.7% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (6.7% average weekly change). Minor Risk Market cap is less than US$100m (€20.3m market cap, or US$21.3m). Price Target Changed • Oct 25
Price target increased by 10.0% to €3.30 Up from €3.00, the current price target is provided by 1 analyst. New target price is 10.0% above last closing price of €3.00. Stock is down 16% over the past year. The company is forecast to post a net loss per share of €0.61 next year compared to a net loss per share of €0.24 last year. Reported Earnings • Oct 24
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: €0.20 loss per share (further deteriorated from €0.11 loss in 3Q 2023). Revenue: €6.37m (down 21% from 3Q 2023). Net loss: €1.35m (loss widened 73% from 3Q 2023). Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 100%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 7.2% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Aankondiging • Oct 24
Aspocomp Group Oyj, Annual General Meeting, Apr 29, 2025 Aspocomp Group Oyj, Annual General Meeting, Apr 29, 2025, at 11:00 FLE Standard Time. Aankondiging • Sep 17
Aspocomp Group plc Announces Appointments to Shareholders Nomination Board Aspocomp Group Oyj announced that following members have been appointed to Aspocomp’s Shareholders’ Nomination Board: Päivi Marttila, appointed by Etola Group and Erkki Etola, Kyösti Kakkonen, appointed by Joensuun Kauppa ja Kone Oy and Mikko Montonen, Aspocomp’s third largest shareholder. Aspocomp’s Shareholders’ Nomination Board consists of three members who represent the company’s three largest shareholders. In addition, the Chairman of the company’s Board of Directors shall serve as an expert member of the Nomination Board unless he or she is appointed as an ordinary member of the Board. The three largest shareholders are determined annually based on the ownership information registered with the company’s shareholders’ register on the first business day of September. The Shareholder’s Nomination Board is responsible for preparing and presenting to the Annual General Meeting and, where appropriate, to the Extraordinary General Meeting, proposals regarding the number and remuneration of the members of the Board of Directors as well as a proposal regarding its composition. Aankondiging • Aug 29
Aspocomp Group Plc Lowers its Earnings Guidance for the Year 2024 Aspocomp Group Plc lowered its earnings guidance for the year 2024. The company now estimates that its net sales for 2024 will be below the 2023 level, and its operating result for 2024 will be clearly below the 2023 level. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million as compared to previous guidance that the company estimated that its net sales for 2024 would increase from 2023, and its operating result would improve from 2023. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million. The net sales and operating result guidance is lowered due to the delay in increasing the company’s production capacity and the weakening of demand for its PCB brokerage business. In addition to the decrease in net sales, the weakening of the operating result forecast is influenced by the ramp-up of production of new products and the continued emphasis of net sales on lower-margin customer segments. Price Target Changed • Jul 21
Price target decreased by 14% to €3.00 Down from €3.50, the current price target is provided by 1 analyst. New target price is 6.8% below last closing price of €3.22. Stock is down 35% over the past year. The company is forecast to post a net loss per share of €0.27 next year compared to a net loss per share of €0.24 last year. Reported Earnings • Jul 20
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: €0.19 loss per share (down from €0.05 profit in 2Q 2023). Revenue: €7.04m (down 26% from 2Q 2023). Net loss: €1.32m (down 498% from profit in 2Q 2023). Revenue missed analyst estimates by 19%. Earnings per share (EPS) were also behind analyst expectations. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 63 percentage points per year, which is a significant difference in performance. Aankondiging • Jul 19
Aspocomp Group Oyj Provides Sales Guidance for the Year 2024 Aspocomp Group Oyj provided sales guidance for the year 2024. For the year, the company expects net sales will increase from 2023 and its operating result will improve from 2023. Reported Earnings • Apr 18
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: €0.24 loss per share (down from €0.04 profit in 1Q 2023). Revenue: €6.25m (down 30% from 1Q 2023). Net loss: €1.66m (down €1.97m from profit in 1Q 2023). Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 140%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 04
Price target decreased by 17% to €3.50 Down from €4.20, the current price target is provided by 1 analyst. New target price is 9.7% above last closing price of €3.19. Stock is down 51% over the past year. The company is forecast to post earnings per share of €0.07 next year compared to a net loss per share of €0.24 last year. Aankondiging • Mar 14
Aspocomp Group Oyj Proposes Dividend for the Year 2023 Aspocomp Group Oyj announced that the Board of Directors will propose to the Annual General Meeting to be held on April 18, 2024, that no dividend will be paid. Aankondiging • Jan 11
Aspocomp Group Oyj to Report Fiscal Year 2023 Results on Mar 14, 2024 Aspocomp Group Oyj announced that they will report fiscal year 2023 results at 9:00 AM, E. Europe Standard Time on Mar 14, 2024 Aankondiging • Jan 10
Aspocomp Group Oyj Revises Earnings Guidance for the Year 2023 Aspocomp Group Oyj revised earnings guidance for the year 2023. The company is lowering its net sales and operating resultforecast for 2023 due to low net sales, weakened product mix and significantly higher material costs. Material consumption was increased by a temporary production process disruption during the fourth quarter. Material usage is estimated to normalize during the first quarter. The production disruption also affected production volumes and net sales at the end of the year. According to preliminary, unaudited figures, the 2023 net sales are expected to amount to approximately EUR 32.3 million and the 2023 operating result to approximately EUR 1.7–1.9 million negative. In its previous outlook for 2023 (released on October 27, 2023), the company estimated that its net sales for 2023 would be clearly below the 2022 level and its operating result for 2023 would remain negative. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. Aankondiging • Jan 08
Aspocomp Group Oyj Announces Management Changes Aspocomp Group Oyj changes the composition of its Management Team as of January 8, 2024. Member of the Management Team, Chief Operating Officer, and Deputy CEO Antti Ojala has been appointed Chief Commercial Officer as of January 8, 2024. Mr. Ojala will also continue as Deputy CEO. Pekka Holopainen has been appointed Chief Operating Officer, and member of the Aspocomp Management Team as of January 8, 2024. Mr. Holopainen has been working at Aspocomp since 2014, and the most recently he has held the position of Supply Chain Manager. Ari Beilinson leaves his position as Vice President, Sales and Marketing, and member of the Management Team, on January 8, 2024. Aspocomp’s Management Team includes as of January 8, 2024: Mr. Mikko Montonen, President and CEO, Mr. Antti Ojala, CCO and Deputy CEO, Mr. Pekka Holopainen, COO, Mr. Jouni Kinnunen, CFO and Mr. Mitri Mattila, CTO. The members of the Management Team report to Mikko Montonen, President and CEO. Aankondiging • Oct 28
Aspocomp Group Oyj Revises Earnings Guidance for the Year 2023 Aspocomp Group Oyj revised earnings guidance for the year 2023. The financial guidance has been updated due to the slower-than-expected recovery of the Semiconductor segment's cycle, and the slowdown in investments in several of the company’s customer segments, mainly due to the rise in interest rates as well as high inventory levels in different parts of the value chain. These changes in the operating environment will affect the development of Aspocomp’s net sales during the end of 2023. Aspocomp estimates that its net sales for 2023 will be clearly below the 2022 level and its operating result for 2023 is expected to remain negative. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. Aspocomp estimated previously that its net sales for 2023 would be below the 2022 level and its operating result for 2023 would be clearly below the 2022 level. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. Aankondiging • Sep 07
Aspocomp Group plc Appoints Päivi Marttila, Kyösti Kakkonen and Mikko Montonen to the Shareholders’ Nomination Board Aspocomp Group Plc appointed Päivi Marttila (appointed by Etola Group and Erkki Etola), Kyösti Kakkonen (appointed by Joensuun Kauppa ja Kone Oy) and Mikko Montonen (Aspocomp’s third largest shareholder) to the Shareholders’ Nomination Board. Aspocomp’s Shareholders’ Nomination Board consists of three members who represent the company’s three largest shareholders. In addition, the Chairman of the company’s Board of Directors shall serve as an expert member of the Nomination Board unless he or she is appointed as an ordinary member of the Board. The three largest shareholders are determined annually based on the ownership information registered with the company’s shareholders’ register on the first business day of September. The Shareholder’s Nomination Board is responsible for preparing and presenting to the Annual General Meeting and, where appropriate, to the Extraordinary General Meeting, proposals regarding the number and remuneration of the members of the Board of Directors as well as a proposal regarding its composition. Aankondiging • Aug 17
Aspocomp Group Plc Starts Change Negotiations on Possible Temporary Layoffs at its Oulu Plant Aspocomp Group Plc starts change negotiations on possible temporary layoffs at its Oulu plant in Finland. Today, on August 15, 2023, Aspocomp has issued a negotiation proposal in accordance with the Act on Cooperation to start change negotiations for production-related and financial reasons at its Oulu plant. The majority of the Oulu plant’s approximately 120 production blue-collar employees are covered by the negotiations. The change negotiations are estimated to last two weeks, and the possible temporary layoffs would last a maximum of 90 days. With the change negotiations, the company prepares for a possible partial adjustment of production to correspond to temporarily low delivery volumes. Slower-than-expected recovery of the semiconductor cycle and high inventory levels in various parts of the value chain has slowed down net sales. A temporary slowdown in the semiconductor cycle is typical for the industry. The industry's long-term growth prospects are still strong. The cycle of the semiconductor industry is expected to return to growth at the end of the year or the beginning of 2024. Major Estimate Revision • Jul 27
Consensus EPS estimates fall by 56% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €41.5m to €37.6m. EPS estimate also fell from €0.59 per share to €0.26 per share. Net income forecast to grow 62% next year vs 27% growth forecast for Electronic industry in Finland. Consensus price target down from €7.00 to €5.80. Share price fell 3.2% to €4.88 over the past week. New Risk • Jul 21
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: 4.7% Last year net profit margin: 12% 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. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (357% cash payout ratio). Profit margins are more than 30% lower than last year (4.7% net profit margin). Market cap is less than US$100m (€34.5m market cap, or US$38.3m). Reported Earnings • Jul 20
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: €0.05 (down from €0.23 in 2Q 2022). Revenue: €9.46m (down 1.0% from 2Q 2022). Net income: €332.0k (down 79% from 2Q 2022). Profit margin: 3.5% (down from 17% in 2Q 2022). Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 58%. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Aankondiging • Jul 17
Aspocomp Group Oyj Revises Earnings Guidance for the Year 2023 Aspocomp Group Oyj lowers the financial guidance it gave on March 16, 2023, for the year 2023. Company estimates now, that its net sales for 2023 will be below the 2022 level. The operating result is estimated to be clearly below the 2022 level. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. In its previous outlook for 2023 (Financial Statement Release 2022, on March 16, 2023), Aspocomp estimated that its net sales for 2023 would increase from 2022 and its operating result for 2023 would be at the same level as in 2022. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. The updating of the financial guidance is due to the slower-than-expected recovery of the Semiconductor segment's cycle and high inventory levels in different parts of Aspocomp’s value chain. Previously, Aspocomp estimated that the cycle of the Semiconductor Industry would return to growth in the second half of 2023. According to the updated estimate, the turnaround will take place about a quarter or two slower than expected, i.e., at the end of 2023 or the beginning of 2024. A temporary slowdown in the semiconductor cycle is typical for the industry. The industry's long-term growth prospects are still strong. In addition, inflation and interest rates, the risk of recession and the uncertainties posed by Russia’s war of aggression continue to affect the operating environment of Aspocomp and its customers in the financial year 2023. Upcoming Dividend • Apr 14
Upcoming dividend of €0.21 per share at 3.2% yield Eligible shareholders must have bought the stock before 21 April 2023. Payment date: 02 May 2023. Payout ratio is a comfortable 41% and the cash payout ratio is 94%. Trailing yield: 3.2%. Lower than top quartile of Finnish dividend payers (5.1%). Higher than average of industry peers (1.8%). Reported Earnings • Mar 17
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: €0.52 (up from €0.31 in FY 2021). Revenue: €39.1m (up 18% from FY 2021). Net income: €3.55m (up 68% from FY 2021). Profit margin: 9.1% (up from 6.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 31%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 16
Price target increased to €7.40 Up from €6.80, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €7.56. Stock is up 25% over the past year. The company is forecast to post earnings per share of €0.72 for next year compared to €0.31 last year. Reported Earnings • Nov 12
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: €0.20 (up from €0.15 in 3Q 2021). Revenue: €10.4m (up 16% from 3Q 2021). Net income: €1.35m (up 33% from 3Q 2021). Profit margin: 13% (up from 11% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 18%. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Electronic industry in Finland. Over the last 3 years on average, earnings per share has increased by 8% per year and the company’s share price has also increased by 8% per year. Aankondiging • Nov 12
Aspocomp Group Oyj, Annual General Meeting, Apr 20, 2023 Aspocomp Group Oyj, Annual General Meeting, Apr 20, 2023, at 10:00 E. Europe Standard Time. Valuation Update With 7 Day Price Move • Oct 05
Investor sentiment improved over the past week After last week's 16% share price gain to €6.48, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 17x in the Electronic industry in Finland. Total returns to shareholders of 17% over the past three years. Major Estimate Revision • Jul 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast fell from €39.8m to €39.0m. EPS estimate rose from €0.70 to €0.82. Net income forecast to grow 24% next year vs 18% growth forecast for Electronic industry in Finland. Consensus price target up from €6.80 to €7.40. Share price was steady at €6.58 over the past week. Reported Earnings • Jul 21
Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2022 results: EPS: €0.23 (up from €0.06 in 2Q 2021). Net income: €1.60m (up 292% from 2Q 2021). Revenue missed analyst estimates by 6.3%. Earnings per share (EPS) exceeded analyst estimates by 35%. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Aankondiging • Jul 20
Aspocomp Group Oyj Reiterates Earnings Guidance for 2022 Aspocomp Group Oyj reiterated earnings guidance for 2022. For the period the company estimated that its net sales for 2022 will increase and its operating result for 2022 will improve clearly from 2021. In 2021, net salesamounted to EUR 33.2 million and the operating result to EUR 2.2 million. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improved over the past week After last week's 16% share price gain to €6.70, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 20x in the Electronic industry in Finland. Total returns to shareholders of 35% over the past three years. Aankondiging • Jul 14
Aspocomp Group Oyj Provides Earnings Guidance for the Year 2022 Aspocomp Group Oyj provided earnings guidance for the year 2022. For the year, the company estimated that its net sales for 2022 would increase and its operating result for 2022 would improve from 2021. Aspocomp estimates that its net sales for 2022 will increase and its operating result for 2022 will improve clearly from 2021. In 2021, net sales amounted to EUR 33.2 million and the operating result to EUR 2.2 million. Buying Opportunity • Apr 28
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 3.6%. The fair value is estimated to be €7.71, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.5% per annum. Earnings is also forecast to grow by 11% per annum over the same time period. Price Target Changed • Apr 27
Price target increased to €6.80 Up from €6.20, the current price target is provided by 1 analyst. New target price is 6.9% above last closing price of €6.36. Stock is up 42% over the past year. The company is forecast to post earnings per share of €0.71 for next year compared to €0.31 last year.