Scanfil Group’s Interim Report 1 January – 31 March 2020

SCANFIL PLC          INTERIM REPORT               24 APRIL 2020                8.00 A.M.

SCANFIL GROUP’S        INTERIM REPORT   1 JANUARY – 31 MARCH 2020

Q1/2020: A robust start of the year; we keep our outlook for the year

January – March

- Turnover totalled EUR 144.1 million (Q1 2019: 129.9), increase of 10.9%
- Operating profit EUR 8.6 (6.8) million, 6.0% (5.3%) of turnover, increase of 26.1%
- Net profit was EUR 7.5 (4.8) million
- Earnings per share were EUR 0.12 (0.08)
 
Future outlook

Scanfil estimates that its turnover for 2020 will be EUR 590 – 640 million and adjusted operating profit will amount to EUR 39 – 43 million. The estimation is based on our existing understanding of impact of Coronavirus.

Scanfil update its definition of uncertainties related to the future outlook as following: “The 2020 guidance is subject to exceptional uncertainty due to the potential negative effects of the coronavirus pandemic on customer demand, supply chain capacity as well as the safety and operational capability of our own plants and personnel.”

The earlier definition of uncertainties was “The 2020 guidance is subject to exceptional uncertainty due to the potential negative impact of the Coronavirus epidemic on customer demand and, in particular, the situation in China.”

Long Term Target

Scanfil’s long-term target: In 2023, Scanfil is organically aiming for EUR 700 million turnover and 7% operating profit.

In addition, Scanfil is actively exploring acquisitions, especially in the Nordic countries and Central Europe.

	Q1/2020	Q1/2019	Change%	2019
Turnover, EUR million	144.1	129.9	10.9%	579.4
Operating Profit, EUR million	8.6	6.8	26.1%	35.3
Operating Profit, Adjusted, EUR million	8.6	6.8	26.1%	39.4
Operating Profit, %	6.0	5.3		6.1
Operating Profit, Adjusted, %	6.0	5.3		6.8
Net Profit, EUR million	7.5	4.8	55.4%	28.1
Net Profit, Adjusted, EUR million	7.5	4.8	55.4%	32.1
Earnings per Share, EUR	0.12	0.08	53.4%	0.44
Earnings per Share, Adjusted, EUR	0.12	0.08	53.4%	0.50
Return on Equity,  %	17.9	13.0		18.0
Return on Equity, Adjusted, %	17.9	13.0		20.4
Equity Ratio, %	48.8	46.4		49.1
Net Gearing, %	25.0	30.8		27.7
Net Cash Flow from Operations, EUR million	5.9	-0.4		35.9
Employees (Average)	3 522	3 443	2.3%	3 530

The first quarter included no adjustment items.