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Relative profitability remained good but net sales declined by 19% in Q3 y/y driven by weak customer demand and continuing destocking effect. But full year guidance was intact and Scanfil expects Q4 to be the strongest quarter of the year 2024. Scanfil acquired two factories for EUR 23m in October. Acquisition will help Scanfil to reach its full year revenue guidance but its FY EBIT guidance could be challenging to reach we believe. Outlook for Energy & Cleantech segment looks healthy but a bounce back to average revenues seen in 2023 is not in sight. Overall, the demand recovery has proven to be slower than expected but the company sees customer demand stabilizing gradually.
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