Aspocomp Group Oyj lowers the financial guidance it gave on March 16, 2023, for the year 2023. Company estimates now, that its net sales for 2023 will be below the 2022 level. The operating result is estimated to be clearly below the 2022 level.

In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million. In its previous outlook for 2023 (Financial Statement Release 2022, on March 16, 2023), Aspocomp estimated that its net sales for 2023 would increase from 2022 and its operating result for 2023 would be at the same level as in 2022. In 2022, net sales amounted to EUR 39.1 million and the operating result to EUR 4.5 million.

The updating of the financial guidance is due to the slower-than-expected recovery of the Semiconductor segment's cycle and high inventory levels in different parts of Aspocomp’s value chain. Previously, Aspocomp estimated that the cycle of the Semiconductor Industry would return to growth in the second half of 2023. According to the updated estimate, the turnaround will take place about a quarter or two slower than expected, i.e., at the end of 2023 or the beginning of 2024.

A temporary slowdown in the semiconductor cycle is typical for the industry. The industry's long-term growth prospects are still strong. In addition, inflation and interest rates, the risk of recession and the uncertainties posed by Russia’s war of aggression continue to affect the operating environment of Aspocomp and its customers in the financial year 2023.