Aspocomp Group Oyj — Earnings Release 2012

Jul 26, 2012

ASPOCOMP’S INTERIM REPORT JANUARY 1 – JUNE 30, 2012

ASPOCOMP’S INTERIM REPORT JANUARY 1 – JUNE 30, 2012

Espoo, Finland, 2012-07-26 08:00 CEST (GLOBE NEWSWIRE) --
Aspocomp Group Plc, Interim Report, July 26, 2012 at 9:00 a.m.

Key figures 1-6/2012 in brief

• Net sales: EUR 13.1 million (EUR 11.5 million 1-6/2011)
• Operating result before depreciation (EBITDA): EUR 1.9 million (2.3)
• Operating profit (EBIT): EUR 1.2 million (1.6)
• Earnings per share (EPS): EUR 0.19 (0.87*)
• Operational cash flow: EUR 1.2 million (0.0)

*Due to the implementation of a reverse split, the previous quarter is made
comparable by multiplying by ten.

CEO'S REVIEW

“Aspocomp posted better performance in the second quarter of 2012 than in the
first in spite of the uncertain market conditions. Net sales grew to EUR 13.1
million following the acquisition of the Teuva plant. However, due to unstable
demand, capacity utilization was not at a desirable level. Operating profit
amounted to EUR 1.2 million, slightly over nine percent of net sales.

Operational cash flow turned clearly positive, as the acquisition of the Teuva
operations no longer increased the working capital during the second quarter of
the year. In operational terms, the integration of Teuva into Aspocomp has
proceeded according to plans, but the demand has not as yet enabled us to reach
our profitability target.

The near-term market outlook still remains murky and demand fluctuations are
expected to continue. However, we are keeping our full-year outlook unchanged:
we expect that net sales will rise clearly and that the operating result will
be at a good level with respect to the industry sector, but to fall
significantly short of 2011.”

NET SALES AND EARNINGS

Net sales amounted to EUR 13.1 million, a year-on-year increase of 14 percent.
The five largest customers accounted for 70 percent of net sales (81%
1-6/2011). In geographical terms, 95 percent of net sales were generated in
Europe (91%) and 5 percent in Asia (9%). Net sales grew due to the acquisition
of the Teuva plant, which also reduced the share of total net sales accounted
for by the five largest customers.

The operating result was EUR 1.2 million (EUR 1.6 million in 1-6/2011),
representing 9 percent of net sales.

Net financial expenses for the review period amounted to EUR 0.0 million (EUR
-3.2 million). The profit for the period was EUR 1.2 million (EUR 4.7 million)
and earnings per share were EUR 0.19 (EUR 0.87). The profit for the reference
period includes one-time financial income of about EUR 3.7 million.

THE GROUP'S KEY FIGURES

Key indicator 4-6/12 4-6/11 Change 1-6/12 1-6/11 Change
Net sales, M€ 6.7 6.6 2 % 13.1 11.5 13.8 %
EBITDA, M€ 1.1 1.5 -0.4 M€ 1.9 2.3 -0.4 M€
Operating 0.8 1.2 -0.4 M€ 1.2 1.6 -0.4 M€
profit, M€
% of net sales 12% 18% -6.7 ppts 9% 14% -4.9 ppts
Profit/loss for 0.8 4.0 -3.2 M€ 1.2 4.1 -2.9 M€
the period, M€
% of net sales 12% 61% -49.4 ppts 9% 36% -27 ppts
Earnings per 0.12 0.98 -0.9 € 0.19 0.87 -0.7 €
share, €
Investments, M€ 0.6 0.5 0.1 M€ 0.8 0.6 0.2 M€
% of net sales 8.7 % 7.1 % 1.6 ppts 6.1 % 5.1 % 1.0 ppts
Equity ratio, % 66.3 % 50.1 % 16.2 ppts 66.3 % 50.1 % 16.2 ppts
Gearing, % -18.1 % 22.2 % -40.3 ppts -18.1 % 22.2 % -40.3 ppts
Personnel, end 152 106 46 152 106 46 person
of the period s

OUTLOOK FOR THE FUTURE

As Aspocomp's business focuses on prototypes and quick-turn deliveries, it is
difficult to forecast full-year net sales. It is estimated that net sales will
rise substantially in 2012 thanks to the acquisition of the business operations
of Teuva. The operating profit is expected to be at a good level with respect
to the industry sector, but to fall significantly short of 2011.

PUBLICATION OF FINANCIAL RELEASES

Aspocomp has adopted the new disclosure procedure enabled by Standard 5.2b,
which was published by the Finnish Financial Supervision Authority. This stock
exchange release is a summary of the Aspocomp Group's Interim Report January 1
- June 30, 2012 and includes the most relevant information of the report. The
complete report is attached to this release as a pdf file and is also available
on the company's website at www.aspocomp.com.

ADDITIONAL INFORMATION

For further information, please contact Sami Holopainen, CEO, tel. +358 20 775
6860, sami.holopainen(at)aspocomp.com.

ASPOCOMP GROUP PLC
Board of Directors

www.aspocomp.com

Aspocomp: Providing design flexibility

Aspocomp Group Plc sells and manufactures high-tech PCBs. Aspocomp's products
are used in the electronics industry, for instance, in telecommunications
networks, automobiles and many types of industrial applications.

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