Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.
We expected positive organic revenue growth for Q1, but organic growth was flat. A weaker-than-expected EBITA margin also indicates an unfavourable sales mix in the quarter. Moreover, the integration of Lacon in February could have affected profitability...
Incap's Q1 figures we weak and clearly worse than expected, especially due to lower-than-anticipated revenue. However, the company reiterated its guidance, and comments on order book development were exceptionally positive.
Profitability (adj. EBITA margin) was weaker than we expected in Q1. Organic growth was flat in Q1, one reason being component availability problems. But no major problems in logistics or in transportation. Some orders were postponed from Q1 to Q2 but...
Reported growth is set to be very strong for Q1, due to the acquisition of Lacon Group. However, organic growth should also pick up after three negative quarters. Germany has remained a challenging market, but there are some positive signals in the trade...
