Aspocomp Group Oyj · OMXHEX:ACG1V
Aspocomp Group Oyj — Q1 2024 Earnings Presentation
18 slides from Aspocomp Group Oyj's earnings presentation, Apr 18, 2024
Slide 1: Heart of your technology: Q1/2024 Financial Report presentation
Heart of your technology Q1/2024 Financial Report presentation April 18, 2024 Mikko Montonen, President and CEO
Slide 2: Contents
Contents • Q1/2024 in brief • Q1/2024 financial result: – Order book – Net sales – Operating result – Dividend proposal • Overview of customer segments • Outlook • Summary
Slide 3: Q1/2024: Net sales and operating result decreased from the comparison period
Q1/2024: Net sales and operating result decreased from the comparison period • First-quarter net sales EUR 6.2 (8.9) million, decrease of 30% • Operating result EUR -1.6 (0.3) million, -25.9% (3.8% ) of net sales • Earnings per share EUR -0.24 (0.04) • Operative cash flow EUR -2.0 (1.6) million • Eq
Slide 4: Order book amounted to EUR 11.8 million
Order book amounted to EUR 11.8 million Order book (M€), delivery schedule 25 11.8 M€ 20 15 Deliveries next year Deliveries this year 10 5 0 March 31, 2022 March 31, 2023 March 31, 2023 • The order book decreased due to the weakened demand caused by the recession and the customers' higher than usual
Slide 5: Q1/2024 net sales amounted to EUR 6.2 million
Q1/ 2024 net sales amounted to EUR 6.2 million Annual net sales (M€) Quarterly net sales (M€) 45 10 40 35 8 30 25 6 20 4 15 10 2 5 0 0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 2019 2020 2021 2022 2023
Slide 6: Q1/2024 and full year 2023 operating results
Q1/2024 and full year 2023 operating results Operating result, M€ and % Annual operating result, M€ and % 0,6 10% 5 14% 0,3 5% 4 12% 0,0 0% 3 10% Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 2 8% -0,3 -5% -0,6 -10% 1 6% -0,9 -15% 0 4% -1,2 -20% -1 2019 2020 2021 2022 2023 2% -1,5 -25% -2 0% -1,8 -30% -3 -2% -2,1 -
Slide 7: Customer segment comments and net sales Q1/2024
Customer segment comments and net sales Q1/2024 Automotive Industrial Security, Semiconductor Telecommuni- Electronics Defense & Industry cation Aerospace 28% 19% 26% 17% 10%
Slide 8: Automotive: Uncertain market situation slowed down deliveries
Automotive: Uncertain market 28% situation slowed down deliveries • Uncertain market situation slowed down deliveries • Q1 net sales amounted to EUR 1.8 million. Decrease of 10% compared to Q1/2023. Net sales, M€ 2,1 2,0 2,0 1,9 1,9 1,8 1,8 1,7 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24
Slide 9: Industrial Electronics: Net sales increased by 44% compared to Q1/2023
Industrial Electronics: Net sales increased by 44% compared to Q1/2023 19% • Net sales increased due to a slight recovery in demand • Q1 net sales amounted to EUR 1.2 million. Increase of 44% compared to Q1/2023. Net sales, M€ 1,8 1,6 1,4 1,2 1,0 0,8 0,6 0,4 0,2 0,0 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24
Slide 10: Security, Defence & Aerospace: Customer activities at a high level
Security, Defence & Aerospace: Customer activities at a high level 26% • The changing geopolitical environment increases the demand for local manufacturing in Europe. • The active sales work was reflected in the increase of requests for offers and orders. • Net sales increased year-on-year by 14% to
Slide 11: Semiconductor Industry: High inventory levels
17% Semiconductor Industry: High inventory levels • Q1 net sales amounted to EUR 1.1 million. • Demand is expected to recover gradually during 2024. • Growth will start when inventory levels have normalized in the supply chain. Net sales, M€ 4,0 3,5 3,0 2,5 2,0 1,5 1,0 0,5 0,0 Q1/23 Q2/23 Q3/23 Q4/2
Slide 12: Telecommunication: High interest rates limits investments in mobile networks
Telecommunication: High interest rates limits investments in mobile networks 10% • Q1 net sales amounted to EUR 0.6 million. • Weak market reduces R&D activities. • Net sales remained low due to the timing of customers’ product development projects. Net sales, M€ 1,2 1,0 0,8 0,6 0,4 0,2 0,0 Q1/23 Q2
Slide 13: Outlook for 2024
Outlook for 2024 Aspocomp reiterates the guidance that was published on March 14, 2024. • Aspocomp estimates that its net sales for 2024 will increase from 2023 and its operating result will improve from 2023. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR
Slide 14: Q1: Summary
Q1: Summary • First-quarter net sales EUR 6.2 (8.9) million, decrease of 30% • Operating result EUR -1.6 (0.3) million, -25.9% (3.8% ) of net sales • Earnings per share EUR -0.24 (0.04) • Operative cash flow EUR -2.0 (1.6) million • Equity ratio 64.5% (69.4%) • Order book at the end of the review pe
Slide 15: Additional material
Additional material ASPOCOMP Heart of your technology
Slide 16: 10 major shareholders, March 31, 2024
10 major shareholders, March 31, 2024 Shareholder Shares Ownership, % 1 Joensuun Kauppa ja Kone Oy 1,195,722 17.48 2 Etola Group Oy 1,001,004 14.63 3 Montonen Mikko 390,000 5.70 4 Mandatum Life Insurance Company Limited 352,103 5.15 5 Etola Erkki 300,000 4.39 6 Nordea Henkivakuutus Suomi Oy 275,000
Slide 17: Board of Directors
Board of Directors Päivi Marttila Kaarina Muurinen Jukka Huuskonen Anssi Korhonen Chairman Vice Chairman Member Member
Slide 18: Management Team
Management Team Mikko Montonen Antti Ojala Pekka Holopainen Jouni Kinnunen Mitri Mattila President and CEO CCO and Deputy CEO Chief Operating Officer CFO CTO