Finland's Incap Q2 revenue rises on acquisition
Finland's Incap Q2 revenue rises on acquisition
Overview
Finland electronics manufacturer reported Q2 revenue up 34% yr/yr, driven by Lacon acquisition
Comparable EBITA rose 3% yr/yr, but margin declined due to business mix and material challenges
Company raised 2026 revenue and EBITA outlook but expects lower EBITA growth than previously estimated
Outlook
Incap sees 2026 revenue at EUR 270–290 mln, higher than 2025
Company expects 2026 comparable EBITA at EUR 26–29 mln, less growth than previously estimated
Incap expects stronger second half, driven by solid order intake and increased defence sector volumes
Result Drivers
LACON ACQUISITION - Revenue growth in Q2 was mainly driven by the contribution from the Lacon acquisition
MATERIAL AVAILABILITY - Component availability challenges had a slight negative impact on revenue and led to postponed deliveries
BUSINESS MIX AND COSTS - Profitability was affected by changing business mix, foreign exchange rates, and increased personnel-related accruals
Company press release: ID:nMFNrlk4s
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| EUR 74.20 mln |
|
Q2 Net Income |
| EUR 2.90 mln |
|
Q2 EBIT |
| EUR 5.80 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Incap Oyj is €9.00, about 24.5% above its July 29 closing price of €7.23
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago
Reuters Recommended Reads
July 29 - Bel Fuse prelim Q2 sales rise 25% on defense, data demand
July 29 - Benchmark Electronics Q2 results beat estimates, raises FY revenue forecast
July 27 - Sanmina raises fiscal 2026 outlook after Q3 beat
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)