Scanfil - Sound figures
Scanfil reported Q3 revenue slightly on the soft side, however the overall picture seems to remain pretty much unchanged with demand and profitability as previously expected.
- Scanfil Q3 revenue was EUR 141.6m vs the EUR 156.2m/147.6m Evli/consensus estimates. In our view the slight softness was due to Communication and Industrial segments.
- Communication posted EUR 20.7m in revenue, compared to our EUR 27.8m estimate. The softness was due to lower demand for network elements.
- Consumer Applications’ revenue was EUR 21.3m vs our EUR 20.9m estimate. Scanfil reports encouraging signs of demand picking up for the segment.
- Energy & Automation revenue was EUR 28.9m while we expected EUR 30.4m. There was a lot of customer-specific sales variation.
- Industrial recorded EUR 44.7m vs our EUR 50.5m expectation. July and August were slow, but demand improved in September.
- Medtec & Life Science revenue amounted to EUR 26.1m, compared to our EUR 26.6m estimate.
- Scanfil Q3 EBIT stood at EUR 9.9m, compared to the EUR 10.5m/10.3m Evli/consensus estimates. Operating margin was thus 7.0% vs our 6.8% expectation.
- Scanfil guides FY ’20 revenue to land in the EUR 590 – 610m range and EBIT EUR 38 – 40m. The estimate ranges were previously EUR 580 – 620m and EUR 38 – 42m.