Aspocomp, a contract manufacturer of printed circuit boards, reported weaker-than-expected results for the end of the year. Despite this, the semiconductor market is expected to recover gradually throughout this year, and improvements in consumer demand are anticipated. The company also underwent change negotiations at the beginning of the year, resulting in layoffs and dismissals.
According to preliminary figures, Aspocomp estimates a turnover of approximately EUR 32.3 million for 2023, with an operating loss of about EUR 1.7-1.9 million. Turnover for the last quarter of the year decreased significantly compared to the previous period, leading to an overall decline in earnings per share.
The company’s board proposed to the general meeting that no dividend be distributed for last year, following predictions from analysts that a dividend was unlikely due to the poor performance. Despite these challenges, Aspocomp expects a recovery in demand for its products and an improvement in operating results for the upcoming year.
Aspocomp’s CEO, Mikko Montonen, has announced his resignation and will be replaced by a new CEO who is expected to take over by mid-August. The company saw mixed results in different customer segments, with some industries experiencing increased turnover while others faced challenges due to weak demand. Overall, Aspocomp is optimistic about the future and expects gradual improvement in its performance as it navigates through these challenging times.
In conclusion, despite weaker-than-expected results and changes that led to layoffs and dismissals at Aspocomp earlier this year