Aspocomp's Q1 results weakened by pandemic

Printed circuit board manufacturer Aspocomp Group Oyj announced its first-quarter results, which were significantly impacted by supply chain disruptions stemming from the coronavirus pandemic.

The company reported that net sales weakened, and despite a robust recovery in demand by March, it was insufficient to offset the poor profitability at the start of the year. The operating result remained unprofitable.

Aspocomp cited disruptions to customer production, factory closures, and intermittent restrictions in the availability of raw materials and components, alongside slower and more expensive transportation. The European automotive industry is noted as being in a particularly difficult position.

The company enters the second quarter with a solid order book and maintains its full-year outlook. However, significant uncertainties and increased risks related to both customer demand and component availability mean the outlook for 2020 carries a substantially higher risk than normal.

The results briefing was conducted remotely using the Zoom platform, facilitated by Finnish financial analysis firm Inderes.