Incap Corporation June 14, 2021 at 11.45 Stock Exchange Release
INCAP CONTINUES TO RUN UP ITS FACTORIES IN INDIA, MOVEMENTPROHIBITION EXTENDED 21.6.2021 UNTIL. INCAP’S PREVIOUSLY ANNOUNCED OUTLOOK FOR 2021 REMAINS UNCHANGED.
On 10 May 2021, Incap announced that it had temporarily closed its Tumkur plant until 24 May 2021. On May 24, 2021, Incap announced that the closure had been extended until June 7, 2021 and that the company had received permission to operate the plants partially. Currently, the Karnataka lockout facility has been extended until June 21, 2021. Incap’s plants in India will continue to operate in accordance with government regulations, and Incap is ready to begin full operations as soon as the restrictions are lifted.
The closure and partial operation of the Indian plants will have no impact on the company’s outlook for 2021 announced on April 21, 2021. Incap’s previously announced outlook for 2021:
Incap estimates that the company’s net sales, adjusted operating profit (EBIT) and operating profit (EBIT) in 2021 will be clearly higher than in 2020.
The increase in the net sales and operating profit forecast is due to the strong development of Incap’s business in India and the introduction of a factory expansion, which has progressed faster than expected. Visibility related to customer forecasts and the company’s business development assessments has also improved.
The estimates are based on the assumption that there will be no significant changes in the coronavirus pandemic situation, exchange rates or availability of components, and are based on both Incap’s customer forecasts and the company’s own assessment of business development..
Otto Pukk, President and CEO, tel. +372 508 0798 (in English)
Murthy Munipalli, CEO of Incap India, tel. +91 98802 31431 (in English)
Nasdaq Helsinki Oy
Company website www.incapcorp.com
INCAP IN BRIEF
Incap Corporation is a global electronics contract manufacturer that provides manufacturing services centrally. As a trusted partner, Incap supports its customers throughout the manufacturing value chain – be it large multinationals, medium-sized companies or small startups. Incap offers the latest technology with a strong entrepreneurial atmosphere and highly skilled staff. The company has operations in Finland, Estonia, India, the United Kingdom, Slovakia and Hong Kong, and employs approximately 1,900 people. Incap’s share has been listed on Nasdaq Helsinki Oy since 1997.