The numbers were so dismal; the operating profit even plunged into negative territory, and all figures were worse than a year ago, even though the comparison period was really weak. The order book had also shrunk.
For my part, it went pretty much as expected. There was still overcapacity in PCBs in January-February, after which it stopped abruptly and a dire chip shortage began. This shortage will likely continue into 2022, and I imagine itâs related to the fact that âCustomer outlook and purchases clearly picked up towards the end of the quarter.â Of course, demand is also affected by the improving global situation.
Even compared to peers, Iâm not that surprised, because in my opinion, Aspocompâs focus on PCB manufacturing differs significantly from âelectronics contract manufacturing,â specifically in a way that inevitably creates a difference in this kind of market environment when there is an oversupply in the (sole) main business. Thereâs no assembly operation to balance things out, etc.
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Here are my fresh comments regarding Aspocomp:
Report published in the morning (requires Premium) and morning review comment, open to everyone.
I guess the main message is that this will turn around. But read and comment! Now I have to rush to other tasks, the earnings season doesnât wait for one analyst.
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Will @Juha_Kinnunen still provide an advance comment before the Q2 report is published on Thursday?
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The earnings preview will be available by Wednesday at the latest 
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The direction is right and the order book is an amazing âŹ10.8 million!
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Greetings to the Aspocomp thread!
In a nutshell, my own view: the expected strong turnaround in revenue didnât materialize yet in Q2, but it was even stronger than anticipated in the order book. My revenue forecast would presumably have been realistic if there hadnât been delays with materials during the summer. And Aspocomp reliably generates profit when volumes (revenue) and sales mix (express deliveries) are in order. So, growth should indeed bring results to the bottom line. Aspocompâs risk profile is always high, as visibility is usually very poor, but now the order book offers a bit more clarity.
Aspocomp has been struggling a bit since the pandemic, but now it seems that the market situation has normalized and there is sufficient demand. Nothing is certain, as significantly more materials will be needed in the latter part of the year, but the growth outlook is still very good right now. Hopefully, the turnaround will now start with real momentum.
Attached is the latest report: Loppuvuonna kasvetaan vauhdilla - Inderes
And if you donât have Premium, hereâs the morning review comment.
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I will also check the development of demand a bit in the spring. We will wait for the result to come in.
The company has also acquired some AS9100D certification. I donât know this scene, what kind of position the certificate has in the industry, but elsewhere in the industry I have personally, as a customer representative, checked (audited) whether these kinds of certificates exist or not. Sometimes they are really significant in business deals!
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An interesting result on Thursday - how will the large order book at the end of Q2 be reflected in revenue, and will there also be a jump in profit? The prerequisites should be there, but itâs difficult to predict.
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We are indeed on the edge of our seats!
In principle, the numbers should be impressive, even excellent. On the other hand, supply chain issues and especially challenges in the automotive industry could significantly overshadow them. Itâs a bit hard to tell from the ânews flowâ; a stock for the regular gambler 
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Result almost entirely as expected, net sales 9 million, operating profit 1 million and EPS 0.15! At first glance, Juhaâs forecasts get a school grade of 10-, not all lines matched one-to-one 
The order book just kept climbing, about 400% (4.1 million in the comparison period)
âDemand continued very strong throughout the third quarter, and the order backlog again rose to a new record of EUR 15.8 million
Positive earnings guidance will be given later
The company maintains its full-year guidance announced on March 10, 2021, unchanged. Aspocompâs 2021 net sales are estimated to grow and operating profit to improve from 2020. In 2020, net sales were EUR 25.6 million and operating profit was EUR -0.1 million.
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This was surprisingly good, actually 
I have to rush to do another company, but later there will be a broadcast from Aspocompâs (Aspocomp) earnings release event, and at the same time we will try to interview the CEO.
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CEO Mikko Montonen was interviewed after a long time:
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Happy Sunday to the Forum!
We have now released a comprehensive report on Aspocomp. Extensive reports are open to everyone, so feel free to check it out even if you donât have Premium 
This is also an interesting investment story; there has been no shortage of twists and turns in recent years. Now it looks exceptionally good, with enough orders for a longer period and strong demand. While Aspocomp may not be considered a company with profitable growth based on recent years, it has been a surprisingly reliable earner when revenue has been at a reasonable level. The challenge here is that it is difficult to assess the development of demand from the outside. We are now at an exceptionally high level, but how long will it last Short-term trends have always been difficult to observe from the outside, even though long-term trends are quite favorable.
No one asked about this, but this is why Aspocomp did not receive an update on Friday as usual after Thursdayâs results. We simply couldnât get the extensive report through reviews by Friday, but on the other hand, it would have been foolish to adjust views on consecutive trading days. Thatâs why there was a slight delay. Hopefully, the more comprehensive package makes up for the wait 
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It turned out to be the last great halo video, as Zoom thought those headphones were also part of my head 
Well, it could happen to anyone.
Hereâs more on Aspocomp:
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As a novice stock investor, Iâd like to spark a discussion about Aspocomp, as there hasnât been much of one.
Is it possible that Aspocompâs largest owners, Kyösti Kakkonen and Erkki Etola, might pull an ace out of their sleeve somedayâfor example, by merging this outfit with other companies in the same industry?
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Did you read the latest extensive report? Juha somewhat painted a picture of what kind of parties might be interested in buying a company like this..
Itâs hard to discuss this, as the ânews flowâ is a bit dry.. There should be a customer or supplier representative discussing this, otherwise everything is easily just âbullerointiaâ (speculation) derived from segment news! I, for one, have very little sensible to say.
Letâs just hold on quietly then, as P. Deryng also seemed to be hinting at a ten-euro price for next year in the Indepod, if I didnât mishear 
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A pretty good result, slightly above forecasts, decent guidance and a return to dividend payments! Order backlog also grew a bit from Q3 figures despite strong sales in Q4.
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Strong Q4 results, even better than high expectations:
The webcast from the earnings release event is about to begin, so those interested in the company should join:
A good opportunity to ask questions from the CEO as well!
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