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Scanfil: Q3 in-line with consensus, FY guidance unchanged - Nordea

Net sales and operating profit were 1% below consensus (Refinitiv) in Q3.

The company’s profitability remained a very good level in Q3 but uncertainty regarding 2024 has increased. Following a record strong Q2, Scanfil has now witnessed softer demand from several customer segments. China could be one area for which expectations have come down. The strongest positive momentum is in Energy & Cleantech segment where net sales was up by 41% y/y in January-September 2023.

Full year 2023 guidance is same as published on 10 October 2023. However, visibility for 2024 is not good. Volatility in product inventories and end demand could be unpredictable. Christophe Sut started as the new CEO at the beginning of September and the company is working on a strategy update, which will be announced in early 2024.
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