Aspocomp Group (ACG1V) Q4 2025 earnings summary

Executive summary

• Net sales for 2025 rose 38% year-over-year to EUR 38.2 million, with operating result improving by EUR 4.9 million to EUR 0.9 million from EUR -4.0 million in 2024.

• Oulu plant achieved record delivery volumes despite equipment failures in the second half of the year, supported by efficiency measures.

• Strategic focus shifted toward defense and semiconductor industries, launching a EUR 10+ million investment program to expand Oulu plant capacity by 50%, with phased introduction through 2027.

• Significant geopolitical changes led to renewed demand for European PCB manufacturing and market consolidation, reducing capacity for smaller players.

• Orders received in 2025 totaled EUR 39.3 million, up 6% year-over-year; order book at year-end was EUR 21.1 million, up 6%.

Financial highlights

• Q4 net sales were EUR 8.9 million, up 12% year-over-year; full-year net sales reached EUR 38.2 million, up 38%.

• Q4 operating result was EUR -0.4 million; full-year operating result was EUR 0.9 million (2.4% of net sales).

• Full-year EBITDA was EUR 2.3 million, up from EUR -2.1 million in 2024.

• Earnings per share for Q4 was EUR -0.04; full-year EPS was EUR 0.06, up from EUR -0.51.

• Operative cash flow for the year was EUR 2.7 million, up from EUR -4.7 million; Q4 operative cash flow was EUR -0.3 million.

Outlook and guidance

• Net sales and operating result for 2026 projected to grow compared to 2025, with solid demand expected in defense and semiconductor markets.

• Long-term strategy targets over EUR 100 million in net sales and EBIT margin above 10%.