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The downward revision of adjusted operating profit is mainly due to the continuation of challenges in material availability and the worsening of the COVID-19 situation in the company’s operating geographies during the fourth quarter of 2021. These matters have affected negatively productivity and profitability of the factories. In addition, the inventory growth has exposed the company to increasing foreign exchange risk. This has expected to have a higher negative effect during the last quarter of the year than anticipated.
Customer demand has remained strong during the last quarter.
New outlook for 2021:
Scanfil estimates that its turnover for 2021 will be EUR 680–700 million, and its adjusted operating profit will be EUR 38–41 million.
The guidance for the remainder of 2021 involves still uncertainties arising from the potential negative impact of the availability of certain materials, especially semiconductors, and the COVID-19 pandemic on the delivery capability of the supply chain, factories production capabilities as well as customer demand.
The previous outlook for 2021, issued 13 October 2021:
Scanfil estimates that its turnover for 2021 will be EUR 670–710 million, and its adjusted operating profit will be EUR 41–44 million.
