Skip to content

My Evli online service will be upgraded on Thursday March 27, 2025 between 7.00 pm. and 9.00 pm. During this time, all online services will be unavailable. We apologize for any inconvenience.

Scanfil - Good results amid the pandemic

Scanfil’s Q1 revenue clearly exceeded our and consensus estimates. Communication, Energy & Automation as well as Industrial segments were stronger than we expected. Scanfil says profitability developed as expected and reaffirms FY ’20 outlook.
  • Q1 top line stood at EUR 144.1m, compared to EUR 133.7m/135.2m Evli/consensus estimates.
  • Communication revenue was EUR 22.4m while we expected EUR 16.1m. Scanfil says 5G network elements were the most important demand driver.
  • Consumer Applications revenue amounted to EUR 18.7m vs our EUR 24.7m estimate. Scanfil says the softness was due to a certain account whose demand begins in Q2 this year. The coronavirus also had an impact on a couple of accounts.
  • Energy & Automation recorded EUR 30.7m compared to our EUR 25.4m estimate. Demand was broad and strengthened during the quarter.
  • Industrial top line was EUR 45.6m vs our EUR 38.6m expectation.
  • Medtec & Life Science revenue amounted to EUR 26.7m, in comparison to our EUR 28.9m estimate.
  • Scanfil’s Q1 EBIT was EUR 8.6m vs EUR 8.7m/8.3m Evli/consensus estimates. The 6.0% operating margin was thus slightly lower than our 6.5% estimate.
  • Scanfil issued annual guidance on Feb 19, 2020 according to which the company saw FY ’20 revenue in the EUR 590-640m range and EBIT at EUR 39-43m. Scanfil said the guidance was subject to exceptional uncertainty due to the coronavirus situation that was evolving in China back then. The company made a certain allowance accordingly. Scanfil now reaffirms the outlook but updates the definition of uncertainties with a reference to potential negative effects of the pandemic.
Open Report