Estonia, Good for Business, Industry, Technology
International Internet Magazine. Baltic States news & analytics
Tuesday, 10.12.2024, 10:20
Incap boosts Q3 sales 60% to EUR 28.1 mln
Excluding revenue from AWS Electronics Group, a
holding acquired in January 2020, revenue grew organically by 10.7%.
In light of better efficiency in the full-year, Incap has
revised its outlook for 2020. It estimates that revenue in 2020 might be
considerably larger than in 2019 and operating profit (EBIT) in 2020 might be
larger than in 2019. According to the estimate, full-year revenue in 2020 may
reach 105-107 mln euros and operating profit roughly 10.5-11.5 mln euros.
"Following a troublesome second quarter that was
affected by the adverse impacts of the COVID-19 pandemic, the company recovered
in the course of the third quarter," Otto Pukk, president and CEO
of Incap Group, said.
He said that Incap's revenue grew organically by over
10% as its cleared the backlog at its Indian manufacturing unit.
"The COVID-19 pandemic delayed our growth plans for
2020; however, we are completely satisfied that at the moment we are again on
track and have been in a position to announce an improved outlook on our
operating profit, which we estimate might be larger than in 2019," the CEO
said.
As a consequence of sound demand from present and new
clients, Incap is about to further expand its manufacturing unit in
India.
"We expect the enlargement of the manufacturing unit to
be finalized in early 2021, while the subsequent enlargement is due to be
completed by the end of 2021," the CEO added.
Incap is a manufacturer of electronics equipment that
is active in Finland, Estonia, India, Slovakia, the UK and Hong Kong. Finance
and administration, sourcing, sales, IT and communications are coordinated by
the corporate office with headquarters in Finland. Shares of Incap have
been listed on Nasdaq Helsinki stock exchange since 1997.
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